Price control: Pandora will no longer use diamonds | | Business and Economic Affairs

Pandora, the world’s largest producer of gemstones, opposes the use of diamonds and only those used in labs.

The Pandora A / S, which manufactures more jewelry than any other company in the world, will no longer use the diamonds that have been removed, and will throw another raw material for good quality.

The manufacturer of expensive trinkets has now used diamonds made in laboratories, saying that last year they will stop using the new gold and silver. Although the diamonds removed removed only about 50,000 pieces of Pandora last year – out of about 85 million – this move shows the need for growth.

Pandora from Copenhagen said Tuesday it will roll out its first offerings using lab-based stones in the UK, and head to other markets in 2022.

“Especially for thousands of years, the recognition of lab-based diamonds, is much higher than in previous generations, so it’s a matter of education,” Pandora CEO Alexander Lacik said in a telephone interview. “They are very much concerned with economic stability.”

Despite years of change, the gemstone market continues to be a source of concern over human rights abuses at mines and factories. To address these issues, Tiffany & Co last year began offering customers to customers most of the newly stored diamonds, which look for a stone to return to the mines. Retailers and manufacturers of lab-based diamonds have been on the rise in recent years, offering fixed stones that are even cheaper than mine.

Global diamond sales fell 15% in 2020 due to volatility, travel restrictions and economic uncertainty, according to a report by the Antwerp World Diamond Center and Bain & Co The production of solid diamonds fell 20% in 2020 and prices fell by 11%.

Sales of diamonds – and prices – have increased this year, De Beers is selling more than $ 1.6 billion in hard-core diamonds, most since 2018. According to De Beers, the world’s largest diamond company, young people remain loyal to the gemstones and count about two-thirds. in three of the global importance.

Pandora’s lab-shaped diamonds grow from carbon with a power of more than 60% frequency, a rate that rises to 100% next year.

Hard Stage Bling

Pandora’s promise last year to stop relying on freshly refined gold and silver means that all of its production will use precious metals by 2025, part of the idea that production should not be carbon-free in four years.

Bain’s report shows that the laboratory stone market sees growth of two types, especially young customers especially curious who make a careful production. It also found that sustainability, transparency, and caring for people were “essential elements” for consumers and investors.

Don’t just be customers who are just too focused on stability. The Nordea-based economic watchdog recently said it wants to focus on environmental, cultural and regional security in all its courts.

Pandora also emphasized the price as a reflection on her thoughts. Lab-mined stones damage about one-third of the mines and this change makes more buyers for diamond jewelry.

“We have done a lot of research around the world to make sure that this request can be shared with the customers we have,” Lacik said. “They really like the idea that we make diamonds so they can get them.”

The diamonds made by the lab will have the same shape as the gemstones laid, Pandora said. The new collection also includes rings, bracelets, beads and earrings, she said.

Pandora’s focus on sustainable manufacturing solutions was accompanied by significant growth in its market. Last year alone, the company’s shareholders found that economic profits had more than tripled. And this week, Pandora raised its profit margin to reflect the fastest-growing retail growth.

Shares at the Danish company rose to 7%, with sales 5.6% higher than 12:03 pm in Copenhagen.

(Add comments from CEO starting with paragraph four.)
-I assisted by Kim Bhasin and Thomas Biesheuvel.