Jewellery maker Pandora goes big on lab-made diamonds with North American launch


COPENHAGEN, Aug 16 (Reuters)Pandora PNDORA.CO, the world’s largest jewelry maker, mentioned on Tuesday it will transfer forward with its wager on lab-made diamonds, following its announcement final 12 months to cease promoting mined diamonds.

Copenhagen-based Pandora will launch a set utilizing unmined gems in North America this month, because it hopes to draw youthful buyers with cheaper and extra sustainable stones assured to not have come from battle zones.

The launch of 269 shops throughout the United States and Canada in addition to on-line comes after a smaller pilot launch in Britain final 12 months.

“Lab-created diamonds are just as beautiful as mined diamonds, but available to more people and with lower carbon emissions,” Chief Executive Officer Alexander Lacik mentioned in a press release.

Lab-grown diamonds have seen demand development and value decreases relative to natural-mined diamonds, in keeping with Bain & Company analysis, which confirmed the typical polished lab-grown retail value declined to 30% of pure costs.

The transition of lab-made gems in direction of being a viable industrial different to actual diamonds has spurred companies comparable to De Beers and Swarovski to finish their decades-old coverage of shunning artificial gems of their jewelry, whereas luxurious group LVMH LVMH.PA is also exploring the class.

The merchandise vary from a silver ring with a 0.15 carat lab-created diamond value $300 to a stable gold ring which prices $1950.

While manufacturing of lab-grown diamonds is energy-intensive, Pandora mentioned its diamonds could be made utilizing solely renewable power.

The gems can be made utilizing a know-how by which a hydrocarbon fuel combination is heated to 800 Celsius (1,472 Fahrenheit), spurring carbon atoms to be deposited on a small seed diamond, rising right into a crystal layer by layer.

(Reporting by Stine Jacobsen Editing by Bernadette Baum)

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