De Beers’ Lightbox ‘tests the market’ with first range of lab-grown engagement rings
Lightbox has launched its first range of lab-grown diamond engagement rings to ‘test’ the market before deciding whether or not it’s worth taking a deep dive into the sector.
The De Beers lab grown division, which was launched in May 2018, is taking the significant step by expanding into the bridal market with a range of 16 engagement rings priced around £1,951 ($2,500).
Lightbox CEO Antoine Borde said the company is running a number of small ‘in-market’ tests of consumer preferences around lab-grown diamond engagement rings before analysing the findings and taking the ‘next steps’.
Since its launch, Lightbox has only sold loose lab-grown stones, and never ready-made engagement rings as part of its own distribution. Now this is the first foray into the category for the company, which was certified carbon neutral earlier this month.
The new range features items with stones from one to two carats and come in settings from simple gold bands to halo styles set alongside smaller pavé lab-grown stones.
The most expensive piece in the range is a £3,902 ($5,000) two-carat round brilliant solitaire engagement ring with a stone graded as colorless/VVS+.
Lightbox CEO Antoine Borde said: “As part of Lightbox’s promise to bring transparency to lab-grown diamonds, we are running a small in-market test of consumer preferences in the lab-grown diamond engagement ring segment. Throughout the test the Lightbox proposition will remain consistent to what it has always been — a high-quality product that is accessibly priced, with clear information that supports consumer confidence.
“We are undertaking the test now to better understand more about consumer interest in lab-grown diamond engagement rings, and to better understand how Lightbox’s offering of clear information and accessible prices resonates in this segment. Once the test is complete, we will analyse the learnings before deciding on next steps.”
The new range comes with the tag line, “Because great chemistry deserves great chemistry”.