{"id":1535399,"date":"2025-05-11T13:55:00","date_gmt":"2025-05-11T17:55:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1535399"},"modified":"2025-05-11T13:55:00","modified_gmt":"2025-05-11T17:55:00","slug":"debeers-shutting-down-its-lab-grown-diamond-brand","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/debeers-shutting-down-its-lab-grown-diamond-brand\/1535399\/","title":{"rendered":"DeBeers Shutting Down Its Lab-Grown Diamond Brand"},"content":{"rendered":"<p><span class=\"field field--name-title field--type-string field--label-hidden\">DeBeers Shutting Down Its Lab-Grown Diamond Brand<\/span><\/p>\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p>De Beers, the world\u2019s largest diamond producer by value, is shutting down its lab-grown diamond jewelery brand, Lightbox, marking a strategic retreat from selling synthetic gems to consumers, according to a report from <a href=\"https:\/\/www.mining.com\/de-beers-to-shut-down-lab-grown-diamond-brand-lightbox\/?amp=1\">mining.com<\/a>.<\/p>\n<p>This move aligns with De Beers\u2019 renewed commitment to natural diamonds, a return to the philosophy behind its iconic \u201cDiamonds are Forever\u201d slogan, the report says.<\/p>\n<p>The decision also follows parent company Anglo American\u2019s efforts to streamline operations as part of a broader restructuring. Anglo American, which put De Beers up for sale last year, continues to evaluate options for the 137-year-old business.<\/p>\n<p>The mining.com <a href=\"https:\/\/www.mining.com\/de-beers-to-shut-down-lab-grown-diamond-brand-lightbox\/?amp=1\">report<\/a> says that\u00a0De Beers entered the lab-grown jewelery market in 2018, reversing its long-held policy of limiting synthetic stones to industrial uses.<\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/diamond_3.jpg?itok=qGsAzZPa\"><\/a><\/p>\n<p>However, in June last year, it announced a production halt for Lightbox as part of a five-year plan to simplify its operations and reassert its leadership in the natural diamond and diamond jewelery market.<\/p>\n<p>Element Six, De Beers\u2019 synthetic diamond division that previously supplied Lightbox, will now concentrate exclusively on industrial markets.<\/p>\n<p>\u201cElement Six is well-positioned to seize the rapidly growing potential for synthetic diamond applications across a range of future-facing technologies,\u201d the company stated.<\/p>\n<p>This exit from the synthetic jewelery space comes amid significant turbulence in the diamond market. Weak demand from China and an oversupply of lab-grown diamonds have depressed prices, complicating Anglo American\u2019s plans to divest.<\/p>\n<p>After recording a $1.6 billion writedown last year, Anglo American further slashed De Beers\u2019 valuation by $2.9 billion in February. At that time, CEO Duncan Wanblad noted that De Beers could remain part of the group until 2026, depending on market conditions.<\/p>\n<\/div>\n<p>      <span class=\"field field--name-uid field--type-entity-reference field--label-hidden\"><a title=\"View user profile.\" href=\"https:\/\/cms.zerohedge.com\/users\/tyler-durden\" class=\"username\">Tyler Durden<\/a><\/span><br \/>\n<span class=\"field field--name-created field--type-created field--label-hidden\">Sun, 05\/11\/2025 &#8211; 09:55<\/span><\/p>\n<p>\u200b<a href=\"https:\/\/www.zerohedge.com\/markets\/debeers-shutting-down-its-lab-grown-diamond-brand\" target=\"_blank\" class=\"\">https:\/\/www.zerohedge.com\/markets\/debeers-shutting-down-its-lab-grown-diamond-brand<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DeBeers Shutting Down Its Lab-Grown Diamond Brand De Beers, the world\u2019s largest diamond producer by value, is shutting down its lab-grown diamond jewelery brand, Lightbox,&#8230;<\/p>\n","protected":false},"author":0,"featured_media":1535400,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1535399","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-6rqv","jetpack_featured_media_url":"https:\/\/bugaluu.com\/news\/wp-content\/uploads\/sites\/3\/2025\/05\/diamond_3-8IC8lP.jpg","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1535399","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1535399"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1535399\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1535400"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1535399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1535399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1535399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}