De Beers’ lab-grown diamond jewellery brand Lightbox started selling engagement rings with lab-grown diamonds as a test on its website recently.
De Beers has not made an announcement or issued a press release in advance of this move, but provided an explanation for this three-month test, with marketing limited to three primary markets, namely New York City, Dallas, and Atlanta in the United States.
Lightbox is publicising lab-grown diamond engagement rings on its home page, promising a “stress-free and risk-free” shopping experience. It reads: “Our cutting-edge technology ensures each of our lab-grown diamonds are quality guaranteed,” with the marketing line: “Because great chemistry deserves great chemistry.”
A link takes viewers to a page listing 16 items featuring regular Lightbox lab-grown diamonds, or stones from the brand’s Finest line, which have higher colour and clarity. Rings set with regular Lightbox lab-grown diamonds are priced at the brand’s standard $800 per carat, plus $700 for the 14-karat gold setting. Rings with a halo setting are an additional $300. However, Finest retails at $1,500 per carat. The selection includes white, pink and blue lab-grown diamonds, with prices ranging from $500 for a three-stone ring to $5,000 for 2 carats.
The company said it is maintaining its $1,500 per carat pricing for Finest stones but has not held to a fixed setting price for this test. It is only using this period to better understand consumer reaction to different propositions, according to National Jeweler.
Lightbox CEO Antoine Borde told JCK: “It’s a matter of listening to the consumer. We have a lot of consumers who ask, ‘When are you going to sell engagement rings?’… We are focused on listening to our consumers, because at the end of the day it’s important to answer to their demands.”
28/06/2023
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