PANDORA (PNDORA.CO), the jewellery maker best know for its silver charm bracelets, will stop selling mined diamonds and focus on more affordable, sustainable, lab-grown gems, it said on Tuesday.
“Diamonds are not only forever, but for everyone,” Pandora Chief Executive Alexander Lacik said as the Danish company launched a new collection of man-made stones.
Pandora, which made 85 million pieces of jewellery last year and sold 50,000 diamonds, said it aimed to “transform the market for diamond jewellery with affordable, sustainably created products”.
The growing acceptance of man-made diamonds by millennials attracted to cheaper stones guaranteed not to have come from conflict zones has spurred firms such as De Beers to end its decades-old policy of shunning synthetic gems in its jewellery.
Prices of lab-grown diamonds have fallen over the past two years following the U-turn by De Beers in 2018 and are now up to 10 times cheaper than
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