De Beers has announced plans to shut down its lab-grown diamond jewellery brand, Lightbox, and shift its focus back to natural diamonds as it contends with falling prices, weak demand, and tariff uncertainties.
“As part of the closure process, De Beers is in discussions with potential buyers regarding the sale of certain assets, including inventory,” the company stated on Thursday.
De Beers first launched Lightbox in September 2018, marking a significant shift from its long-standing practice of using synthetic diamonds solely for industrial purposes. However, in June 2024, the company announced it would cease production of lab-grown diamonds for the brand to concentrate on the higher-value natural diamond market.
Owned by Anglo American, De Beers is also streamlining operations and cutting costs as it prepares to become a standalone entity. Anglo American, currently undergoing a major restructuring, is seeking to exit the diamond sector either by selling or listing the 137-year-old company.
