Is the goal of Lightbox to lower the price of lab-growns?
No ... the strategic aim is to position the category of product in a sustainable, value-adding way, which is different than a natural diamond’s value proposition. As a result, prices have come down. It’s just the laws of economics. As Chinese production [of LGDs] builds, and you have a technology curve that drops the price, every time you double production, the prices will come down, and they are already dropping pretty rapidly. This should be a cost-plus business, not a rarity business. The price declines are not an end in themselves, but they are what the price should be if you are going to be honest and fair to consumers.
- Steven Lussier, Chair of De Beers consumer products division & DPA, interview with JCK's Rob Bates