De Beers, the world’s largest diamond producer by value, plans to shut down its lab-grown diamond jewellery brand Lightbox, marking a retreat from synthetic gems sold to consumers.
The move comes as parent company Anglo American (LON: AAL), which put De Beers up for sale last year, seeks to streamline operations amid broader restructuring.
The decision reflects De Beers’ renewed focus on natural diamonds, a return to the strategy behind its iconic “Diamonds are Forever” slogan.
Element Six, De Beers’ synthetic diamond arm that once supplied Lightbox, will now focus solely on industrial applications. “Element Six is well-positioned to seize the rapidly growing potential for synthetic diamond applications across a range of future-facing technologies,” the company said.
De Beers first entered the lab-grown jewellery market in 2018, reversing a longstanding policy of restricting…
