Pandora, the world’s largest jewelry maker, is making a bold move into the world of lab-made diamonds with its North American launch. Following its announcement last year that it would stop selling mined diamonds, the Copenhagen-based company is now forging ahead with its plan to focus on lab-grown gems. This month, Pandora will introduce a collection featuring these unmined diamonds in North America, targeting younger consumers with more affordable and sustainable options that are guaranteed not to be sourced from conflict zones.
The launch will be rolled out across 269 stores in the United States and Canada, as well as being available online. This expansion follows a successful pilot launch in the United Kingdom last year, which highlighted the potential of lab-made diamonds in the market.
CEO Alexander Lacik has expressed his enthusiasm for lab-created diamonds, emphasizing that they are just as beautiful as mined diamonds but are more accessible and have lower carbon emissions. Research by Bain & Company supports this statement, revealing that lab-grown diamonds have seen increasing demand and decreasing prices compared to naturally-mined diamonds. In fact, the average retail price of polished lab-grown diamonds is now approximately 30% of the price of natural diamonds.
The growing commercial viability of lab-made gems has prompted renowned companies like De Beers, Swarovski, and LVMH to change their long-standing policies and embrace synthetic diamonds in their jewelry. Pandora’s collection will feature a range of products, from a silver ring with a 0.15 carat lab-created diamond priced at $300 to a solid gold ring valued at $1,950.
Although the production of lab-grown diamonds does require significant energy, Pandora has taken steps to ensure sustainability. The company has stated that its diamonds will be created using only renewable energy sources. The process involves heating a hydrocarbon gas mixture to 800 degrees Celsius (1,472 degrees Fahrenheit), causing carbon atoms to be deposited onto a small seed diamond. This results in the growth of a crystal layer by layer.
Pandora’s decision to invest in lab-grown diamonds represents a significant shift in the jewelry industry. By offering a more affordable, sustainable, and ethically sourced alternative to traditional diamonds, Pandora is catering to the growing demand for environmentally conscious and socially responsible products. As the company expands its presence in North America, it will be interesting to see how consumers respond to this new collection and whether other jewelry brands will follow suit in embracing lab-made diamonds.
Read more:
1. [The Rise of Lab-Grown Diamonds]()
2. [How Lab-Grown Diamonds are Made]()
