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The line of pink, blue and white laboratory-grown diamonds, which De Beers will sell under a new brand, Lightbox Jewelry, is designed to persuade shoppers to think of synthetic diamonds as a “fun piece of fashion jewelry” instead of a lifelong investment, executives said. Prices will start at as low as $200 to appeal to a new generation of shoppers.
“We see this is as opening up new gifting occasions where perhaps a natural diamond would say too much or, frankly, be too expensive,” said Steve Coe, general manager of Lightbox Jewelry. “This is something you might buy for a best friend or for a Sweet 16.”
The shift to synthetic is an unexpected move for the world’s largest diamond miner, which for decades has relied on the perceived scarcity of mined diamonds to drive up values and has railed against synthetic diamonds as one of the biggest threats to the industry.
But now, after 70 years of telling consumers “a diamond is forever,” De Beers is rethinking its message.
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