05/04/2021 | Press release | Distributed by Public on 05/03/2021 23:53
Company aims to make diamond jewellery accessible to a wider audience. Launch marks a new milestone for Pandora as it will no longer be using mined diamonds.
Pandora today announced the launch of Pandora Brilliance, its first lab-created diamond collection. Aiming to transform the market for diamond jewellery with affordable, sustainably created products, Pandora Brilliance is initially introduced in the UK with global launch in other key markets expected in 2022.
Alexander Lacik, Pandora CEO, says: 'Pandora continues its quest to make incredible jewellery available for more people and today I'm proud to announce the introduction of Pandora Brilliance. It's a new collection of beautifully designed jewellery featuring lab-created diamonds. 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. Diamonds are not only forever, but for everyone.'
Consumer demand for lab-created diamonds
The diamond jewellery market is expected to continue to grow, and lab-created diamonds are outpacing the industry's overall growth. Lab-created diamonds are identical to mined diamonds but grown in a laboratory rather than excavated from a mine. They have the same optical, chemical, thermal and physical characteristics and are graded by the same standards known as the 4Cs - cut, colour, clarity and carat - before being set within the Pandora Brilliance collection.
The new collection includes rings, bangles, necklaces and earrings, each featuring a solitary lab-created diamond hand-set within sterling silver, solid 14K yellow gold or solid 14K white gold. Like other Pandora jewellery, the pieces can be collected and layered together, and the collection's motif, a reimagined infinity symbol, is imbued with meaning. The concept is about infinite possibility - that the future is yours to shape - and the creative development is based on extensive consumer research in North America, Europe and China.
Certified carbon neutral
Pandora Brilliance has achieved CarbonNeutral® product certification in accordance with The CarbonNeutral Protocol, a leading global framework for carbon neutrality. The certification covers Pandora Brilliance jewellery, its packaging and transportation. The lab-created diamonds in the collection have been grown with more than 60% renewable energy on average, and greenhouse gas emissions from non-renewable energy are being offset through the CarbonNeutral certification. When Pandora launches the collection globally next year, the diamonds are expected to be made using 100% renewable energy.
Going forward, mined diamonds will no longer be used in Pandora's products.
Pandora Brilliance is available to purchase from 6th May in the UK. The pieces are starting from £250 and each stone ranges from 0.15 to one carat.
For more information, please visit https://pandoragroup.com/products/jewellery-materials/pandora-brilliance
Pandora designs, manufactures and markets hand-finished jewellery made from high-quality materials at affordable prices. Pandora jewellery is sold in more than 100 countries through more than 7,000 points of sale, including around 2,700 concept stores.
Headquartered in Copenhagen, Denmark, Pandora employs 26,000 people worldwide and crafts its jewellery at two LEED certified facilities in Thailand using mainly recycled silver and gold. The company plans to be carbon neutral by 2025 and has joined the Science Based Targets initiative to reduce emissions across its full value chain. Pandora is listed on the Nasdaq Copenhagen stock exchange and generated sales of DKK 19.0 billion (EUR 2.5 billion) in 2020.
For more information, please contact:
Director External Relations
+45 4060 1415
VP, Investor Relations, Tax & Treasury
+45 5356 6909
Kristoffer Aas Malmgren
Investor Relations Director
+45 3050 1174