In 2018, De Beers launched Lightbox Jewelry, a lab-grown-set jewelry collection with an unstated primary goal of disrupting the lab-grown market through devaluation and separation. Divide and conquer is an age-old battle strategy, but in this case, it didn’t work as well as hoped for. Surprisingly, not only is the natural diamond industry seeing its fears materialize. So also is the lab-grown industry. Following is the sum of all their fears.

After two very buoyant years, the softening everyone knew would hit has finally arrived. It’s not just the slowdown in China, the second largest consumer market, but the US is feeling it as well.