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De Beers to Discontinue Lab-Grown Diamond Jewelry Brand Lightbox
ByAinvest
Thursday, May 8, 2025 10:15 am ET1min read
De Beers will shut down its lab-grown diamond jewelry brand, Lightbox. Anglo American, the parent company of De Beers, is a leading mining group with operations in various minerals, including iron ore, copper, diamond, and platinum. The company's sales are distributed across various regions, including the UK, Europe, China, Japan, and South America.
De Beers, a subsidiary of Anglo American plc, has announced that it will shut down its lab-grown diamond jewelry brand, Lightbox. The decision comes amidst a challenging market environment for lab-grown diamonds and a focus on core operations within the mining group.Anglo American, a leading mining company, operates in various mineral sectors, including iron ore, copper, diamond, and platinum. The company's sales are distributed across multiple regions, including the UK, Europe, China, Japan, and South America. The decision to shut down Lightbox is part of a broader strategy to streamline operations and focus on core competencies.
The lab-grown diamond market has faced several challenges, including price volatility and competition from traditional diamond producers. De Beers has been exploring the lab-grown diamond market for some time, but the recent market conditions have made it difficult for the brand to maintain profitability.
Anglo American has stated that the shutdown of Lightbox will not significantly impact its overall financial performance. The company is continuing to invest in its core operations and is focused on maintaining its market position in the diamond industry.
The shutdown of Lightbox is a strategic move by Anglo American to focus on its core strengths and adapt to changing market conditions. The company is committed to continuing its operations in the diamond industry and is exploring new opportunities to grow its business.
References:
[1] https://www.tradingview.com/news/reuters.com,2025:newsml_L4N3RD05N:0-de-beers-chief-says-trump-s-diamond-tariffs-are-of-no-benefit-to-us-jobs-ft/
[2] https://www.nasdaq.com/articles/anglo-american-responds-peabodys-notification-steelmaking-coal-acquisition
[3] https://in.fashionnetwork.com/news/Ivana-jewels-raises-rs-2-crore-from-avinya-ventures-plans-retail-expansion,1725335.html
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