June 19, 2021

Pandora, the world’s largest jewelry brand, clears cut diamonds

The Copenhagen-based company said it was moving towards its use instead Diamonds, created in laboratories It has “optical, chemical, thermal and physical properties”. The collection, called Pandora Brilliance, is coming out in the UK and is expected to launch globally next year.

“They are a symbol of innovation and progress, they are beautiful and they stand as a testament to the agenda of current and ambitious sustainability,” Alexander Lasik, CEO of Pandora, said in a statement. “Diamonds are not just for everyone, but for everyone.”

The protocol for cut diamonds is to charge for laboratory-grown stones as a detectable alternative. Pandora said the cut diamonds (sister cut, color, clarity and carat) were standardized in the same “4Cs” before they were sold.

The new collection includes necklaces, earrings and rings. Prices start at around $ 350 and are “collected and stacked together”, which is named for its previous collection.

Pandora’s new collection is more environmentally friendly because they are made with an average of more than 60% renewable energy. It expects new diamonds to be made with 100% renewable energy when the collection is launched globally.

Laboratory-grown gems are growing among consumers who want to buy products from fixed supply chains. Pandora announced last June that it would use only recycled gold and silver in its products by 2025.

Last year, Tiffany & Co. (TIF). One announced Try to try It allows customers to find the right country where the stones are cut, polished and set. But Pandora’s latest move marks a major change.

The company is targeting major buyers, meaning diamond sales are only 50,000 pieces of jewelry sold for a total of $ 85 million last year. Yet it was a remarkable move from a key player.

Pandora (Pandas) Trying to stay ahead of the curve, noting the huge growth in demand for laboratory-made stones.

“In the United States, and especially in China and India, young consumers, stability is part of their decision-making process and can affect whether they buy diamond jewelry,” Pine & Company pointed out in a statement released earlier this year.

– CNN Business’ Julia Horowitz contributed to this report.