De Beers Group has announced the launch of a new company called Lightbox Jewelry that will begin marketing a new brand of laboratory-grown diamond jewellery in September. \u00a0\r\n\r\nLightbox lab-grown diamonds will retail from $200 (\u00a3150) for a quarter-carat stone to $800 (\u00a3603) for a one-carat stone. The line will feature pink, blue and white lab-grown diamonds in a selection of accessibly-priced earring and necklace designs.\r\n\r\nBruce Cleaver, CEO of De Beers Group, said: \u201cLightbox will transform the lab-grown diamond sector by offering consumers a lab-grown product they have told us they want but aren\u2019t getting: affordable fashion jewelry that may not be forever, but is perfect for right now. \r\n\r\n\u201cOur extensive research tells us this is how consumers regard lab-grown diamonds \u2013 as a fun, pretty product that shouldn\u2019t cost that much \u2013 so we see an opportunity here that\u2019s been missed by lab-grown diamond producers. \r\n\r\n\u201cAfter decades of R&D investment, we\u2019re able to offer consumers a better price today. While it will be a small business compared with our core diamond business, we think the Lightbox brand will resonate with consumers and provide a new, complementary commercial opportunity for De Beers Group.\u201d\r\n\r\nLightbox will launch in the US and will initially be available to US-based consumers through the Lightbox e-commerce website, with retail partnerships to be announced in due course.\r\n\r\nSteve Coe, general manager at Lightbox Jewelry, added: \u201cLightbox Jewelry offers consumers something new: sparkle and colors, at a very accessible price. In addition to a deep understanding of what consumers want, Lightbox brings innovation and a commitment to transparency to the lab-grown diamond sector.\r\n\r\n\u201cWe\u2019ve learned from our research that there is a lot of confusion about lab-grown diamonds \u2013 what they are, how they differ from diamonds, and how they are valued. Lightbox will be clear with consumers about what lab-grown diamonds are and will offer straightforward pricing that is consistent with the true cost of production.\u201d\r\n\r\nA subsidiary of De Beers Group, Lightbox will be the only jewellery brand to source lab-grown diamonds from De Beers Group\u2019s Element Six business.