October was good for De Beer’s-owned lab-grown diamond brand, Lightbox. They did not just complete a partnership with the Blue Nile, an online jewelry retailer, but also confirmed that their 60,000 square feet lab in Gresham, Oregon, just outside Portland, is ready.
The facility is estimated to be worth $94 million and was designed by Sheehan Nagle Hartray, a Chicago-based architecture firm. Its design resembles diamond facets and has labs, offices, production floor and conference rooms.
Although the lab is complete, it is expected to begin full production towards the end of the first quarter in 2021.
Source: Professional Jeweler
Lightbox seeks to increase their production using the lab by producing 200,000 carats of diamonds each year. The facility will employ 60 engineers and technician on fulltime basis.
De Beers recently partnered with Blue Nile to launch an exclusive jewelry collection on the retailer’s website. It is the first time in 21 years that it will be selling lab-grown diamonds to its customers. With the new facility and the partnership with the giant online jewelry retailer, a huge opportunity for business expansion and revenue growth has been created.