The world's largest jewelry brand is ditching mined diamonds
May 4, 2021. Summarized by summa-bot.
Compression ratio: 29.4%. 1 min read.
Pedestrians pass a Pandora A/S store in Copenhagen, Denmark, on Monday, Aug. 19, 2019. Pandora, a Danish jewelry company that spent much of last year under attack by hedge funds as it tries to relaunch its brand, reported a smaller decline in operating profit than expected but said its efforts to turn the business around will entail additional costs. Photographer: Carsten Snejbjerg/Bloomberg
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.
New York (CNN Business)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.
Pandora said they're graded on the same "4Cs" as mined diamonds (a. k. a. cut, color, clarity and carat) before they're sold.
It expects that the new diamonds will be made with 100% renewable energy when the collection launches globally.