The world's largest diamond miner is doing the unthinkable: Selling stones produced in a laboratory.
De Beers launched a new jewelry1
brand last Tuesday that features synthetic2
diamonds, a major reversal for a company that had implored3
consumers to stick with "real" stones.
The brand, called Lightbox, will offer synthetic diamonds at a fraction of the price it charges for stones pulled out of the earth. De Beers framed the move as a response to consumer demands.
"Lightbox will transform the lab-grown diamond sector4
by offering consumers a lab-grown product they have told us they want but aren't getting: affordable5
fashion jewelry that may not be forever, but is perfect for right now," said De Beers CEO Bruce Cleaver6
Jewelry from the brand will go on sale in September. De Beers said prices will start at $200 for a quarter carat, and increase to $800 for a full carat stone. The company's natural stones start at roughly 10 times that amount, depending on their clarity and other attributes.