Copenhagen: Pandora, the jewelery maker best known for its silver charm bracelets, will stop selling mined diamonds and focus on more affordable, durable, laboratory-developed gems, it will be on Tuesday (May 4) said.
“Diamonds are not only forever, but for everyone,” Pandora’s chief executive officer Alexander Lacic said that the Danish company has launched a new collection of man-made stones.
Pandora, which made 85 million pieces of jewelery last year and sold 50,000 diamonds, said it aimed to “replace the market for diamond jewelery with affordable, continuously made products”.
The increasing acceptance of man-made diamonds over the millennia has drawn towards cheaper stones that are guaranteed not to come from conflict zones, prompting companies like De Beers to end the decades-old policy of shiny synthetic gems in their jewelery Huh.
According to a Bain & Company report, diamond prices have fallen in the lab over the past two years after De Beers took a U-turn in 2018 and are now up to 10 times cheaper than mined diamonds.
Pandora’s new collection of lab-developed diamonds will initially be launched in the United Kingdom and will be available in other major markets next year.
Pandora said that this is expected to continue the boom in the diamond market.
Pandora’s lab-grown gems will be made using a technique in which a mixture of hydrocarbon gas is heated to 800 ° C, with atoms of carbon deposited on a small seed diamond, which is layer by layer in the crystal layer. Increases.
Pandora, which has so far taken diamonds mined from KGK Diamonds, said it would get the stones developed in its lab from suppliers in Europe and North America. The diamonds already kept in Pandora stores will still be sold.
Opponents of mined diamonds say that their extraction causes damage to the environment and helps the so-called diamonds fund conflict.
A study conducted by the natural diamond industry in 2019 stated that the diamonds mined were less carbon-dense.