JCPenney Offering Lab-Grown “Ex-Change” for Valentine’s Singles

By Rob Bates | January 27, 2026

If you’re single and have a piece of jewelry in your drawer with some bad memories (or people) attached, JCPenney will let you trade it in for a half-carat lab-grown diamond necklace, set in 14k gold over silver. (A comparable item sells for $375.)

The JCPenney Ex-Change will be offered to the first 100 customers who show up with a used item on Valentine’s Day at the Garden City, N.Y., store. Penney is also offering 50 trade-ins at 10 other locations.

Jillian Roig, vice president and divisional merchandise manager of fine jewelry at JCPenney, tells JCK the company wants to attract customers who may not be feeling the love on Valentine’s Day.

“Most [retailers] focus on couples and the classic Valentine’s Day romance,” she says. “At JCPenney we are too—but there are people who are excluded from that holiday, and we love to be inclusive. So whether they’re single, post-breakup, or entering a new chapter, we thought this is something great for them.”

The trade-ins will be done with “no appraisals, no fees, no questions,” Roig says. “Everyone is offered the same necklace.… The goal is to help customers move on from that piece and create something new in their lives.”

Beyond the promotion, Roig says the department store remains bullish on lab-grown diamonds.

“We were industry leaders in bringing in lab-grown when it first came on the market,” she says. “I think that’s given us a competitive advantage. A large portion of our assortment has transitioned to lab-grown. We have not seen any customer resistance to it. It allows us to carry that full breadth of assortment and design aesthetic, as accessible luxury. I think that is a winning combination for JCPenney.”

The declining price of lab-grown diamonds has helped in a lot of ways, Roig adds.

“It makes them more affordable for our customer base,” she says. “When we talk about ‘democratizing’ luxury, the fact that we can offer this quality at these designs, at these attainable prices, gives us an edge in the market.… I think customers are seeing the opportunity to get pieces they only ever dreamed of, in lab-grown.”

Roig notes that Penney shoppers generally favor lab-growns of 2 cts. and up.

(Photo courtesy of JCPenney)