Pandora produces more jewelry than any other company in the world. And on Tuesday, it announced a major change: It won't use any more mined diamonds in its products.
The Copenhagen-based company said it's instead shifting toward the use of diamonds created in labs, which it emphasized have the same "optical, chemical, thermal and physical characteristics." The collection, called Pandora Brilliance, is rolling out in the United Kingdom and expected to launch globally next year.
"They are as much a symbol of innovation and progress as they are of enduring beauty and stand as a testament to our ongoing and ambitious sustainability agenda," said Pandora CEO Alexander Lacik said in a statement. "Diamonds are not only forever, but for everyone."
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Pandora announced last June that it will only use recycled gold and silver in its products by 2025.
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The company targets mainstream buyers, which means diamond sales accounted for just 50,000 pieces of jewelry sold last year out of a total of 85 million. Yet it's still a significant move from a major player.
The future of gemstones and jewelry
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The future of gemstones and jewelry
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- LawBeefaroni
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Re: The future of gemstones and jewelry
All their diamonds will be NFTs by 2030 anyway.
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Re: The future of gemstones and jewelry
All just rocks out of the ground to me.
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Re: The future of gemstones and jewelry
Might be time to invest in non-diamond precious gems...
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Re: The future of gemstones and jewelry
I have a lot of gravel in my driveway. I value them like diamonds. So if anyone wants in on the ground floor I will sell as many as you can afford. Ill even toss in free shipping for the first 50. Worldwide. In nice bubble envelopes. Gift wrapping extra of course.
The first 100 to order in 10 minutes get enrolled in my rock of the month club. Ill send you a new gemgravel each month for a low low price. You can leave the club anytime you like after 5 years.
The first 100 to order in 10 minutes get enrolled in my rock of the month club. Ill send you a new gemgravel each month for a low low price. You can leave the club anytime you like after 5 years.
--------------------------------------------
I am Dyslexic of Borg, prepare to have your ass laminated.
I guess Ray Butts has ate his last pancake.
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"Has high IQ. Refuses to apply it"
I am Dyslexic of Borg, prepare to have your ass laminated.
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Re: The future of gemstones and jewelry
I like the move and hope others follow suit.
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Re: The future of gemstones and jewelry
I expect a DeBeers "Real diamond" campaign to be launched shortly.
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Re: The future of gemstones and jewelry
They have read the signs and portents correctly
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Re: The future of gemstones and jewelry
WWD
During last week’s Fairchild Media Group’s sustainability summit, “Sustainability Now: The Pressure Grows,” Sourcing Journal’s Kate Nishimura interviewed Pat Dambe, De Beers Group’s vice president, market outreach, natural diamonds, to share insights into how the company is promoting ethical and sustainable diamond mining. During the session, titled, “Building Forever: Blueprint for a Better Future,” Dambe discussed the origins of the Kimberley Process, the role of transparency and the implementation of its Provenance Solution and Tracr blockchain technology.
In 2003, De Beers and other diamond producers partnered with the U.N. to establish the Kimberley Process, which the organization notes is the process of uniting “administrations, civil societies and industry in reducing the flow of conflict diamonds — ‘rough diamonds used to finance wars against governments’ — around the world.”
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