Pandora, the world’s biggest jeweler by volume, mentioned on Tuesday that it’s going to no longer use mined diamonds for any new designs, and is switching to man-made stones produced in laboratories as a substitute.
The Copenhagen-based firm mentioned it might launch its first assortment to make use of artificial stones in Britain this 12 months earlier than turning to different markets in 2022. The vary of rings, bangles and earrings will characteristic stones from 0.15 to 1 carat in measurement. Pandora’s chief govt, Alexander Lacik, mentioned in an announcement Tuesday that diamonds must be reasonably priced in addition to sustainable.
Lab-grown diamonds are physically, chemically and optically identical to mined diamonds, and proponents say that their manufacturing ends in much less environmental harm than conventional mining practices, and in addition doesn’t have the identical associations with human rights abuses. Costs of synthetic diamonds have fallen over the previous two years after the miner De Beers started offering synthetic stones in 2018, and they’re now as much as 10 instances cheaper than mined diamonds, in line with a report by Bain & Firm.
Whereas mined diamonds went into about 50,000 Pandora items of knickknack out of a complete of 85 million objects made final 12 months, that means the shift required inside the firm provide chain will likely be negligible, the announcement by Pandora is the most recent by a significant trade participant trying to tackle rising moral issues held by shoppers in regards to the jewellery enterprise. The jeweler has already mentioned it’ll solely use recycled gold and silver starting 2025.