Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ The world’s largest jewelry brand ditches mine diamonds

The world’s largest jewelry brand ditches mine diamonds

The Copenhagen company said it was instead switching to the use of diamonds created in laboratories, which it stressed have the same “optical, chemical, thermal and physical properties.” The collection, called Pandora Brilliance, is being rolled 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 enduring beauty and stand as a testament to our ongoing and ambitious sustainability agenda,” Pandora CEO Alexander Lacik said in a statement. “Diamonds are not just forever, but for everyone.”


Lab-grown stones have been billed as the ethical, traceable alternative to mine diamonds. Pandora said they were classified on the same “4Cs” as mine diamonds (aka cut, color, clarity and carat) before being sold.

Pandora Brilliance is a new collection that eats sustainable laboratory-created diamonds.

The new collection includes necklaces, earrings and rings. Prices start at around $ 350 and can be “assembled and stored together”, a nod to the previous collection for which it is known.

Pandora’s new collection is also more environmentally friendly because they are made with more than 60% renewable energy on average. It expects that the new diamonds will be manufactured with 100% renewable energy when the collection is launched globally.

Lab-grown stones have a growing appeal among consumers who want to buy products from sustainable supply chains. Pandora announced in June last year that it will only use recycled gold and silver in its products by 2025.

Last year, Tiffany & Co. (TIF). announced a tracking initiative that allows customers to find out the exact country where rocks are cut, polished and set. But the latest move from Pandora marks a major shift.

The company is targeted at ordinary buyers, which means that diamond sales accounted for only 50,000 pieces of jewelery sold last year out of a total of 85 million. Still, it’s still an important step from a bigger player.

Pandora (PANDAS) trying to stay ahead of the curve and noticing a huge growth in demand for laboratory-made stones.

“In the U.S. and especially in China and India, younger consumers say sustainability is part of their decision-making process and can affect whether they buy diamond jewelry,” Bain & Company pointed out in a report released earlier this year.

CNN Business’ Julia Horowitz contributed to this report.

Source link