Lightbox, De Beers’ lab-grown diamond jewelry brand, may open brick-and-mortar stores in the United States in 2024, according to an Oct. 1 filing with Companies House, the U.K. corporate registry.
“Lightbox is exploring the option of opening one or two own-brand brick-and-mortar stores in the U.S. from 2024 onward in support of building the brand and plans to continue with e-commerce as a focus for the business within the next five years,” it said.
In the past, the brand has erected pop-up stores in New York City, Los Angeles, and Florida.
When asked for comment, De Beers tells JCK: “Since launching Lightbox Jewelry in 2018, we have continued to expand the brand’s offering through new product innovations and retail partnerships and continue to explore a range of potential expansion opportunities for the future.”
The filing added: “New B2B customers for branded Lightbox distribution are being identified both inside and outside of North America, and the business is also looking to add more white label customers in the short-to-medium term.”
The brand has never said who its current “white label” customers are, but sources have told JCK that one is Pandora.
Lightbox’s filing also said that it doesn’t expect to be lowering its $800-a-carat retail price within the next 12 months. But it also notes: “Lightbox continues to keep the competitive environment under regular review and will respond accordingly in this fast-changing sector.”
The financial results in the filing said the brand did $16.3 million in turnover in 2021 and recorded a $17.5 million loss. However, De Beers cautioned that does not reflect the brand’s global business; it reflects only its U.K. entity.
The filing predicts the business will become profitable “at an entity level” in a few years.
Top: Lightbox’s pop-up store at the Aventura Mall near Miami in 2019 (photo courtesy of Lightbox Jewelry)
Follow JCK on Instagram: @jckmagazineFollow JCK on Twitter: @jckmagazine
Follow JCK on Facebook: @jckmagazine
