De Beers to market lab-grown diamonds

NEW YORK (FOX5NY) - A famous diamond maker is going to start faking it.  De Beers says it will start marketing lab-grown diamonds.

The move comes after years of resisting artificial diamonds on fears it could undercut some of its business.

Beginning in September, De Beers will launch a company called Lightbox Jewelry.  It will market a brand of laboratory-grown diamond jewelry to consumers.

A statement from the company says Lightbox will offer high-quality, fashion jewelry designs at lower prices than existing lab-grown diamond offerings.

Lightbox diamonds will retail from $200 for a quarter-carat stone to $800 for a one-carat stone.  White, pink and blue diamonds will be available, according to the company.