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.