Upon the announcement of De-Beers Lightbox, a fashion-jewelry using synthetic diamonds, GJEPC expected in a press statement De Beers to drive product categorization and differentiation between Synthetics and Natural Diamonds.
De Beers will introduce Lightbox, a label selling fashion jewellery at lower prices than existing lab grown diamond offerings in September 2018.
Introduction of the Lab created Diamond jewellery by Lightbox will position synthetics appropriately – “non-precious accessories”, which is a small and distinct market. Branded synthetic diamonds have been used in non-precious jewellery by brands such as Swarovski and are sold as a non-precious fashion product.
According to GJEPC customers and owners of real diamonds across the world will be able to differentiate the synthetic diamonds from the Naturals. Synthetic or laboratory grown diamonds are a completely different product and can't be compared to natural diamonds which derive their value from being natural, being precious, and being rare. A natural diamond stands for the most precious emotions and is a luxury product with a timeless appeal. It is expected that this will also position the Real Natural Diamonds as Unique, Premium and Luxury.
