Are diamonds really forever? South African and British diamonds corporation, De Beers Group announced its decision to close its lab-grown diamonds (LGD) brand, Lightbox in May 2025. This has led to a shift of focus back to the OG natural diamonds within the industry and consumers. While a girl’s got to know all about her diamonds, but if you are living under a rock, LGDs are chemically produced diamonds that look just like naturally mined diamonds but cost a fraction of the latter.
According to Statista (Statista is a global data and business intelligence platform that specialises in compiling, gathering and visualising statistics and market research data), this move by De Beers is in sharp contrast to the lab-grown diamonds industry steadily growing over the past decade. However, in a statement released in their official website the company highlighted that Lightbox’s LGD’s have seen a fall in prices by 90 per cent at wholesale, since the brand’s inception back in 2018. Given this stark drop in prices and the resultant decline in market, the company has decided to discontinue the brand.
This strategic move by the leading diamonds producer now shifts their attention back to natural diamonds. In an official statement by De Beers, it was made clear that this will lead to streamlining the business and concentrating energies towards high-return operations instead.
Given this turn in the industry, NDTV spoke to De Beers Group, industry experts and other brands in the business to understand their take on the fall of lab-grown diamonds and the resultant resurgence of naturally mined diamonds.
De Beers’s Comment On Rolling Back Its Lab Grown Diamond Line, Lightbox
Amit Pratihari, MD, De Beers India, spoke to NDTV, “The proposed closure of the Lightbox business reflects a key executional milestone in De Beers Group’s Origins Strategy, as set out in May 2024, to focus on high-return activities and streamline the business. The closure will enable De Beers Group to reallocate investment to initiatives focused on reinvigorating desire for natural diamonds through category marketing.”
He further said, “As we move towards becoming a standalone company, we continue to optimise our business, reduce costs and build a focused De Beers that is positioned for profitable growth.”
It was conclusively added by the diamonds giant, “The planned closure of Lightbox reflects our commitment to natural diamonds. We are also excited at the growing commercial potential for synthetic diamonds in the technology and industrial space.”
De Beers Group’s Take On Their Strategic Move Towards Focusing On Natural Diamonds
Amit Pratihari highlighted the De Beers Group India’s view, “The De Beers Group’s strategic move to close its lab-grown diamond (“LGD”) jewellery brand, Lightbox, reinforces De Beers Group’s commitment to natural diamonds in the jewellery sector.”
He further told NDTV, “Natural diamonds, in that context, become more than adornment in India. They become symbols of support, of acknowledgment, of love that adapts and evolves. By linking this deeply personal rite of passage to the timelessness of diamonds, we aimed to elevate the moment – and remind people that diamonds can be everyday expressions of meaning, not just occasion-driven luxuries.”
Leave a Reply