Pandora, the world’s leading jewelry maker, is making waves in the industry with its bold decision to focus on lab-made diamonds. The company made headlines last year when it announced its decision to stop selling mined diamonds, and now it is taking further steps to launch a collection of jewelry made with unmined gems in North America. This move is part of Pandora’s larger strategy to appeal to younger consumers by offering more affordable and sustainable stones that are guaranteed to be sourced ethically and not from conflict zones.

The eagerly anticipated launch of this new collection will take place in 269 stores across the United States and Canada, as well as online. Building on the success of a pilot launch in Britain last year, Pandora hopes to capture the attention and loyalty of consumers in North America with its lab-created diamonds. Alexander Lacik, Pandora’s CEO, has shared his excitement about these diamonds, emphasizing that they are just as stunning as natural diamonds but with a more accessible price point for a wider range of consumers. Additionally, lab-grown diamonds come with lower carbon emissions, making them a more environmentally-conscious choice.

There is growing demand for lab-made diamonds, which has caused prices to decrease in comparison to their natural counterparts. Bain & Company’s research indicates that the average retail price for lab-created diamonds has dropped to just 30% of the price of natural diamonds. This shift towards lab-grown gems as a viable commercial alternative has prompted other industry giants, including De Beers, Swarovski, and LVMH, to reconsider their traditional policies of avoiding synthetic gems in their jewelry.

Pandora’s lab-made diamonds collection offers a wide variety of products, catering to different budgets and preferences. Customers can choose from a range of items, from a silver ring adorned with a 0.15 carat lab-created diamond priced at $300, to a luxurious solid gold ring priced at $1,950. While it is true that the production of lab-grown diamonds requires a significant amount of energy, Pandora is committed to using only renewable energy in the creation of their diamonds. The process involves heating a hydrocarbon gas mixture to extremely high temperatures, causing carbon atoms to be deposited onto a small seed diamond, resulting in the formation of a crystal layer by layer.

By embracing lab-made diamonds, Pandora is not only capitalizing on a growing market but also reinforcing its dedication to sustainability. This strategic move aligns with the evolving preferences of consumers who are increasingly seeking out ethical and environmentally-friendly options. With its North American launch, Pandora is well-positioned to attract a new generation of conscious consumers who value both style and sustainability.

For more information on lab-grown diamonds, you can visit the following links:
1. GIA – Lab-Grown Diamonds
2. Frost & Sullivan – Market Trends and Growth Opportunities for Lab-Grown Diamonds