Following Pandora’s dramatic announcement that it is switching to lab-grown diamonds (LGD) and will no longer purchase natural diamonds, Pandora’s CEO Alexander Lacik insists that the move will not hurt the value of natural diamonds.
The Danish jeweler has launched the Brilliance collection which features rings, bangles, necklaces and earrings set with LGDs of up to 1-carat.
In an interview with Bloomberg quoted by IDEX Online, Lacik said that he does not want or seek to “denigrate the value the industry has built up around diamonds”. According to Lacik, only a tiny minority of Pandora’s pieces have included diamonds until now, and the switch to LGDs will “significantly increase that proportion”. He added that Pandora’s sales reps have been trained to say that some diamonds are sourced through the geological route and others through modern technology, but that “the outcome is exactly the same”.
Pandora’s LGDs collection is currently available only in the UK and will be “rolled out to Pandora’s 7,000 points of sale” by 2022.
