De Beers Closes Lightbox
De Beers has announced the closure of its lab-grown diamond brand, Lightbox. This decision stems from a strategic shift back to their core business of natural diamonds. The diamond giant faces declining prices for lab-grown diamonds and intensified competition in the market. By refocusing on natural diamonds, De Beers aims to strengthen its position in the industry and cater to traditional diamond buyers.
Impact on the Diamond Market
This closure reflects a broader trend in the diamond industry as consumers weigh their options. The growing popularity of lab-grown diamonds had been a significant challenge for traditional diamond retailers. However, as prices for lab-grown diamonds continue to fall, companies like De Beers are adjusting their strategies. The decision to close Lightbox emphasizes the enduring allure of natural diamonds and the brand’s commitment to heritage and luxury.
