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.
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