Pandora, the world’s largest jewelry brand, abandons mined diamonds – fr

Pandora, the world’s largest jewelry brand, abandons mined diamonds – fr

The Copenhagen-based company said it was turning instead to using diamonds created in laboratories, which it said have the same “optical, chemical, thermal and physical characteristics.” The collection, called Pandora Brilliance, is now rolling out in the UK and is expected to launch globally next year.

“They are as much a symbol of innovation and progress as they are of enduring beauty and a testament to our ongoing and ambitious sustainability agenda,” said Alexander Lacik, CEO of Pandora, in a statement. “Diamonds are not only forever, but for everyone. “

Laboratory stones have been touted as the ethical and traceable alternative to mined diamonds. Pandora said they were graded to the same “4Cs” as mined diamonds (ie size, color, clarity and carat) before being sold.

The new collection includes necklaces, earrings and rings. Prices start at around $ 350 and can be “collected and layered,” a nod to his previous collection he’s known for.

Pandora’s new collection is also more environmentally friendly, as it is made with over 60% renewable energy on average. He expects the new diamonds to be made with 100% renewable energy when the collection launches worldwide.
Laboratory-grown stones are increasingly attractive to consumers looking to purchase products from sustainable supply chains. Pandora announced last June that it would only use recycled gold and silver in its products by 2025.

Last year, Tiffany and company (TIF). announced a tracing initiative that allows customers to discover the exact country where the stones are cut, polished and set. But Pandora’s latest move marks a bigger change.

The company targets traditional buyers, which means diamond sales were just 50,000 pieces of jewelry sold last year out of a total of 85 million. However, it is still an important gesture on the part of a major player.

Pandora (PANDAS) tries to stay one step ahead, noting huge growth in demand for lab stones.

“In the United States, and particularly in China and India, young consumers are saying that sustainability is part of their decision-making process and could influence the purchase of diamond jewelry,” Bain & Company noted in a commentary. report released earlier this year.

– Julia Horowitz of CNN Business contributed to this report.


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