Lightbox, De Beers’ lab-grown diamond brand, has called off its trial of engagement rings, citing a lack of business prospects.

“Through the test, the company deepened its understanding of LGDs [lab-grown diamonds] and evaluate the changing landscape and consumer perceptions associated with them,” De Beers said in a statement Wednesday. “Lightbox will continue to focus on where it sees the most promising future opportunities in the sector — in fashion jewelry and in loose stones at accessible price points — and will not sell [lab-grown diamond] engagement rings.”

Lightbox quietly introduced a small line of engagement rings in June. The industry reacted with a mixture of anger and, in some cases, a lack of surprise, since the company had gradually been rolling back some of the claims it made about synthetics when Lightbox launched in 2018.

The test reinforced De Beers’ view that the “commercial proposition for many [lab-grown] engagement ring offers is likely unsustainable,” it added. Retailers already need to double the number of synthetic-diamond carats sold every two years to maintain a flat absolute gross profit, management explained.

A recent De Beers consumer survey found that the primary motivation for buying lab-grown was price, the miner continued.

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