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Jewelry brand Pandora eyeing North America push with lab-made diamonds

Jewelry brand Pandora eyeing North America push with lab-made diamonds
Jewelry brand Pandora eyeing North America push with lab-made diamonds

Danish jewelry brand Pandora A/S recently announced that it is betting high on lab-created diamonds, following its last year's statement to stop selling mined diamonds.

To draw in younger customers with less expensive, more sustainable stones that are guaranteed not to have come from war zones, the Copenhagen-based company will introduce a collection utilizing unmined diamonds in North America this month.

Following a smaller experimental launch in Britain last year, around 269 locations will soon open across the United States and Canada, apart from using online channels. Pandora Chief Executive Officer Alexander Lacik stated that lab-created diamonds are just as exceptional as mined diamonds but accessible to more people with lesser carbon emissions.

Although the manufacture of lab-grown diamonds requires a lot of energy, Pandora assured that its diamonds would only be produced with renewable energy to keep up with energy protection.

The jewels will be created using a technique in which a combination of hydrocarbon gases will be heated to 800 degrees Celsius (1,472 degrees Fahrenheit), causing carbon atoms to be attracted to a microscopic seed diamond and deposit themselves there, forming a crystal layer by layer.

According to research experts, the average price of lab-grown diamonds dropped by 30% in comparison to natural prices, and demand for lab-grown diamonds has increased as prices have decreased in comparison to diamonds that are mined naturally.

Several companies like De Beers and Swarovski have changed their long-standing policies against using synthetic stones in jewelry as a viable commercial substitute for real diamonds as a result of the development of lab-created gems. The product category diversifies from a silver ring with a lab-created 0.15-carat diamond worth USD 300 to a pure gold ring that costs USD 1950.

Source Credits:

https://money.usnews.com/investing/news/articles/2022-08-16/jewellery-maker-pandora-goes-big-on-lab-made-diamonds-with-north-american-launch#:~:text=Home-,Jewellery%20Maker%20Pandora%20Goes%20Big%20on%20Lab,Diamonds%20With%20North%20American%20Launch&text=Aug.%2016%2C%202022%2C%20at%201%3A34%20a.m.&text=COPENHAGEN%20(Reuters)%20%2D%20Pandora%2C,to%20stop%20selling%20mined%20diamonds

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Vinisha Joshi

Vinisha Joshi

Despite graduating with an engineering degree in electronics and communication, Vinisha Joshi chose the road less travelled, and decided to pursue her career in content writing . Currently, she pens down articles for cuereport.com and a few other distinguished news platforms, pertaining to business and finance.