At the start of October, both Bloomingdale's and Reeds Jewelers will be making De Beers' Lightbox lab-grown diamonds and jewelry available at their retail locations. During this small trial, Reeds Jewelers will be selling Lightbox diamond jewelry at thirty locations at shopping malls found in the Southeastern portion of the United States, while Bloomingdale's will take on the new inventory at their 59th Street flagship in New York City as well as its location in San Fransisco. The reason for the partnership between the department store giant and independent and family-run business is to determine the market demand for these lab-grown stones that sell for $800 per carat.
Reeds and Bloomingdale's will be offering a varying selection of lab-grown jewels and pieces like pendant necklaces, bracelets, stacking rings, stud earrings and more, set with pink, blue, and white diamonds all grown from inside a laboratory.
Lightbox's CEO Steve Coe spoke of the trial running up to six months. “If we get the positive response we are expecting from consumers we are looking forward to further expanding distribution soon after that,” he said. Coe, in a statement given to Forbes, spoke on the positives of the differences between the two chosen retailers, saying that “Both will provide the opportunity to gain insight into different audience segments and acquire a better understanding, from in-store transactional experiences, of the range of customers buying Lightbox jewelry, how they shop and which styles resonate.”
During Lightbox's September 2018 launch, the lab-grown jewelry and diamonds were primarily sold in the United States through a rare pop-up location or through an online purchase on their site. Coe said that this initial run had piqued the interest of consumers, allowing them to “see, touch and feel the product and to have an opportunity for dialog.” He continued. “It has always been our plan to move forward into bricks and mortar distribution in due course. Over the last year, we have learned a lot regarding consumer preferences for our jewelry, from both our eCommerce retail and the series of pop-up stores we have run. Based on this learning we are now in a good place to push forward with these bricks and mortar trials.”
Information originally sourced from Forbes.