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De Beers said it will no longer sell lab grown engagement rings, after a three-month trial reinforced its belief that they are “unsustainable” as a commercial proposition. “Retailers already need to double the number of LGD carats sold every two years just to maintain a flat absolute gross profit,” the company said. Lightbox, the De Beers lab grown division, dipped its toe into the bridal market in June, with its first ever lab grown engagement rings, carrying the tag line “Because great chemistry deserves great chemistry”.   Most were priced around the $2,500 mark, from a 0.3-ct tw three-stone ring priced at $500 to a $5,000 two-carat round brilliant solitaire engagement ring with a stone graded as colorless/VVS+. Lightbox CEO Antoine Borde said at the time that the company was running a small in-market test of consumer preferences in the lab grown diamond engagement ring segment. He said: “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.” Read more: https://lnkd.in/eQ88QNKt Pic: A model wearing one of the Lightbox lab-grown diamond rings. courtesy Lightbox (De Beers)

De Beers ends lab-grown engagement diamonds foray as prices drop - Diamond Review Africa

De Beers ends lab-grown engagement diamonds foray as prices drop - Diamond Review Africa

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