De Beers Group’s lab-grown diamond brand Lightbox has announced it has lowered the retail price of its lab-grown diamonds by up to 40%.
The brand’s colourless DEF stones, featuring an excellent cut and VS clarity, are now $900 (£716.7) a carat, down 40% from $1,500 (£1194.6). The price of lab-grown IJ colour stones has been reduced by 37.5% from $800 to $500 (£637.1 to £398.2) , and GH colour stones are $600 (£477.8) a carat, representing a 25% reduction.
The move comes in response to changes in the fast-paced lab-grown diamond jewellery industry and Lightbox’s continuing commitment to provide its customers with transparent and competitive pricing for its high-quality, 100% renewable energy grown lab-grown diamonds.
To provide “enhanced value and confidence for buyers”, Lightbox – which launched in 2018 – will provide independent and “high-quality” verification of all the brand’s lab-grown diamonds through the GIA, the Gemological Institute of America. Established in 1931, the GIA has become synonymous with standards and quality in gemology.
The quality verification approach with GIA provides independent third-party assessment of Lightbox laboratory-grown diamonds using a random sampling process. Starting with its DEF white round brilliant loose stones, a statistically significant sample in each production run will be graded to ensure the stones meet GIA’s stringent quality criteria for colour, clarity and cut, allowing for the entire batch to be verified and sold as Lightbox stones.
A downloadable GIA quality verification card will be available for each loose stone purchase, providing additional assurance that the lab-grown diamond has been produced to Lightbox’s exacting quality standards. Stones will continue to carry the Lightbox inscription, invisible to the naked eye, to show they are Lightbox laboratory-grown diamonds.
Antoine Borde, Lightbox CEO, said: “Lightbox led the lab-grown diamond jewellery sector six years ago with its $800 (£637.1) a carat linear pricing, and, today, we are pleased to introduce even lower prices that more closely align with current jewellery industry dynamics.
“Equally, we’re very proud to be working with the GIA to verify the quality and consistency of our stones, which supports purchase confidence and allows us to continue our mission of providing clarity, transparency and value to our customers.”
