Lab-Grown

Pandora’s Lab-Grown Diamond Line Heads to the U.S.

Lab-GrownAug 16, 2022

Pandora’s Lab-Grown Diamond Line Heads to the U.S.

The announcement preceded the Danish company’s release of its second-quarter results.

20220816_1-Pandora Brilliance.jpg
Actress Rosario Dawson stars in the new campaign for Pandora’s lab-grown diamond line, “Pandora Brilliance,” which will debut in the United States and Canada on Aug. 25, the company announced Tuesday.
Copenhagen, Denmark—Pandora is bringing its lab-grown diamond jewelry line to the United States next week.

 “Pandora Brilliance,” which enjoyed a successful test run in the U.K., will launch in the U.S. and Canada on Aug. 25.

The announcement preceded the release of the company’s second-quarter results on Tuesday.

Here’s what to know about Pandora Brilliance along with four other key takeaways from the Danish jewelry company’s quarterly results.

Pandora’s lab-grown jewelry line is rolling out in the U.S. and Canada.

20220816_2-Pandora Brilliance.jpg
Pandora’s lab-grown diamond line, “Pandora Brilliance,” is launching in the U.S. and Canada on Aug. 25.

Pandora announced in May 2021 that it would no longer use natural diamonds in its jewelry—a category that represented a small percentage of its overall inventory—stating it wanted to offer “sustainably created” products, a claim that ruffled some industry feathers.

The company concurrently announced plans for a line of lab-grown diamond jewelry, following what it said was a well-received test run in the U.K.

The company began a worldwide rollout of the Pandora Brilliance collection this year, and the next stop is the U.S., as well as Canada.

Actress Rosario Dawson and model Ashley Graham are the faces of the latest collection.

“The future of luxury is here today. Lab-created diamonds are just as beautiful as mined diamonds, but available to more people and with lower carbon emissions,” said CEO Alexander Lacik.

“We are proud to broaden the diamond market and offer innovative jewelry that sets a new standard for how the industry can reduce its impact on the planet.”

The collection also marks Pandora’s first using only recycled silver and gold, in line with its goal of using 100 percent recycled silver and gold by 2025.

The collection’s motif is a take on the infinity symbol.

The 33-piece line includes rings, bangles, necklaces and earrings, each featuring a lab-grown diamond with a clarity of VS and above hand-set in sterling silver or 14-karat yellow or white gold.

The carat weights range from 0.15 carats to 1 carat, with prices starting at $300.

It will be available for purchase across 269 stores in the U.S. and Canada as of Aug. 25.

“Brilliance” will be the first collection under the new “Diamonds by Pandora” category.

Pandora had a strong second quarter, but the U.S. market struggled.

Second-quarter revenue was up 10 percent year-over-year to 5.7 billion Danish kroner ($770 million) compared with 5.2 billion Danish kroner ($702 million) in the second quarter last year.

“When comparing vs. Q2 2021, the performance needs to be interpreted with care as temporary store closures distort the year-over-year performance,” noted Pandora.

It reported organic sales growth of 3 percent year-over-year, compared with 84 percent last year.

Its sell-out growth (sales in Pandora-owned and -operated stores) was up 2 percent year-over-year, compared with 62 percent last year.

“We are very pleased to see our efforts continuing to pay off as we deliver yet another record revenue quarter. We maintained solid growth vs. pre-pandemic levels, despite negative impacts by lockdowns in China and a tough U.S. comparison due to the stimulus checks last year,” said Lacik said.

By sales channel, Pandora-owned retail stores, including the online store, brought in 4.1 billion Danish kroner ($558.5 million) in the second quarter, up 21 percent from 3.4 billion Danish kroner ($462.9 million) the previous year.

Wholesale sales in the second quarter were down 12 percent to 1.4 billion Danish kroner ($191.5 million).

Online sales were down compared with last year, when they rose sharply due to COVID-19 lockdowns, but nearly doubled compared with Q2 2019.

“Across most markets, Pandora sees a greater acceptance of the online store as a path to purchase but is also seeing consumers returning to stores as COVID-19 restrictions are lifted,” said the company.

Sales in the U.S., Pandora’s biggest market, were down 12 percent year-over-year, though still strong when compared with 2019, posting 59 percent organic growth.

The U.S. market’s performance was in line with what Pandora had expected, as it had noted a possible slowdown in the market in its first-quarter results.

Pandora attributed the market’s performance to the absence of stimulus checks this year.

“The stimulus checks were initiated in March 2021 and Q2 2021 was the strongest quarter in Pandora US last year, with an organic growth of 80 percent vs, 2019 thereby representing an elevated comparison base,” the company said.

Pandora’s long-term goal is to double its U.S. business compared with 2019.

The company noted revenue growth of an additional 4 percent after integrating its acquired franchise partners, including Ben Bridge.

The company is also struggling in China, impacted by the COVID-19 lockdowns. Store traffic in the region is down 60 percent compared with 2021.

Looking to the year ahead, Pandora’s guidance remains unchanged in the face of “elevated uncertainty.”

Its second-quarter results were in line with the company’s expectations.

The company expects to see organic growth of 4 to 6 percent and an EBIT margin of 25 to 25.5 percent.

 Related stories will be right here … 

Pandora is growing its retail footprint.

Pandora is expanding its network, opening a net 15 concept stores in Q2 2022 vs. Q1 2022, mainly in the U.S. and China.

In the second quarter, 25 Pandora owned shop-in-shops were opened in Latin America.

In July, Pandora acquired the Portuguese distributor Visão do Tempo, taking over 25 concept stores and nine shop-in shops, converting them to Pandora-owned stores.

There were 2,447 concept stores as of the second quarter, including 1,500 owned by Pandora.

Pandora is also opening a New York hub in September as it looks to attract talent to the brand.

A temporary space in fall will be followed by a permanent space in the summer of 2023. The office will be the home base for 150 full-time corporate employees.

Pandora’s core “Moments” collection and its Marvel jewelry put on strong performances.

Pandora’s offerings have expanded far beyond its iconic charm bracelet, but customers still like the classics.

Its “Moments” collection, which includes the bracelet and its charms, did well in the second quarter.

Its “Collabs,” or collaborations, also resonated with customers, particularly the Marvel collection.

The company launched an Avengers collection in February, including 11 pieces inspired by characters like Iron Man, Black Panther, The Hulk, and Captain America.

The Moments and Collabs category posted 13 percent growth year-over-year.

However, sales in its new Diamonds by Pandora category, which includes the lab-grown collection, fell 44 percent year-over-year.

Pandora is also looking to reach a newer, fuzzier demographic, offering a line of pet products, including collars and engravable tags.

Pandora is upping its manufacturing capacity.

Pandora has a new manufacturing facility in the works.

The company recently outlined plans to build a $100 million manufacturing facility in Vietnam, its third factory and first outside Thailand.

The Pandora factory will be located in the Binh Duong Province, which is about 25 miles north of Ho Chi Minh City.

The company said construction is set to begin in early 2023, with the facility slated to start producing jewelry by the end of 2024.

The factory will employ 6,000 craftspeople, said Pandora.
Lenore Fedowis the senior editor, news at National Jeweler, covering the retail beat and the business side of jewelry.

The Latest

Graphic for What Do We Mean When We Say “Recycled” Gold webinar
Recorded WebinarsMar 31, 2025
Watch: What Do We Mean When We Say ‘Recycled’ Gold?

Three industry experts dive into the complexities of the material often marketed as an “ethical” alternative for metal in jewelry.

Mindi Mond Clarity Earrings
TrendsMar 31, 2025
Amanda’s Style File: Dripping in Diamonds

Diamonds are not only one of the most prominent gemstones, but the birthstone for those born in April.

Lashbrook ring
MajorsMar 31, 2025
Lashbrook Expands Into Luxury Golf Gifts With Acquisition

The Utah-based company known for making wedding bands has acquired Doubloon Golf.

bench jeweler 1872x1052.png
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They Deserve

Bench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.

Bulgari and LVMH Watches CEO Jean-Christophe Babin
WatchesMar 31, 2025
Bulgari CEO Jean-Christophe Babin Will Also Head LVMH Watches

The longtime luxury executive led one of LVMH’s watch brands, TAG Heuer, for 12 years before taking over Bulgari in 2013.

Weekly QuizMar 27, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Surveillance footage of robbery
CrimeMar 28, 2025
2 Suspects Arrested in $1.7M Smash-and-Grab Robbery of NY Jewelry Store

Authorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.

Nephrite and Jadeite by Heinrich Fischer, Richard W. Hughes
SourcingMar 28, 2025
19th-Century Jade Book Now Available in English

Lotus Gemology founder Richard W. Hughes has translated Heinrich Fischer’s 1880 book “Nephrit und Jadeit” from its original German.

Facets-of-Fire-Difference-You-Can-See.jpg
Brought to you by
Natural Diamonds Should Mean More

Natural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.

LÖF The Valentine Ring
CollectionsMar 28, 2025
Piece of the Week: Löf’s ‘The Valentine’ Ring

The ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.

Eggs on a shelf
SurveysMar 27, 2025
Consumer Confidence Falls in March Amid ‘Gloomy’ Outlook

The Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.

Richard Rainsford memorial ring
AuctionsMar 27, 2025
300-Year-Old Ring Linked to Witch Trial Judge Goes Unsold at Auction

However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.

Austin Butler
WatchesMar 27, 2025
Austin Butler Joins Breitling as Brand Ambassador

The Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.

ICA Congress Brazil 2025
SourcingMar 27, 2025
Susan Jacques, Gaetano Cavalieri to Headline 2025 ICA Congress

The Congress is scheduled to take place May 19-22 in Brasilia, Brazil.

Bailey’s Fine Jewelry storefront
IndependentsMar 26, 2025
Bailey’s Fine Jewelry Acquires Fellow NC Independent Jeweler

The family-owned retailer is the new owner of Morrison Smith Jewelers in Charlotte, North Carolina.

Bulova 150 Art Deco Miss America Watch, 150 Art Deco Pocket Watch
WatchesMar 26, 2025
Bulova Celebrates 150th Anniversary With Art Deco Watches

The “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.

Alex Wellen
MajorsMar 26, 2025
QVC Group Appoints New President

Alex Wellen, formerly CEO and president of MotorTrend Group, has taken on the role.

Jewelers of America’s new logo
Events & AwardsMar 26, 2025
Jewelers of America Announces New Funding Initiative

The Impact Initiative is part of the nonprofit association’s new three-year strategic plan.

Christies regent kashmir sapphire and regal Burmese ruby
AuctionsMar 25, 2025
Christie’s To Auction 35-Carat Sapphire, 13-Carat Ruby

The ruby and the sapphire, which Christie’s calls a “once-in-a-generation masterpiece,” are part of the upcoming Hong Kong jewelry auction.

Diamond earrings held in gloved hand
CrimeMar 25, 2025
Tiffany & Co. Earrings Swallowed Following Grab-and-Run Theft Recovered

The two pairs of earrings, snatched from a Tiffany & Co. store in Orlando, Florida, are valued at a combined $769,500.

Emmanuel Raheb CEO of Smart Age Solutions
ColumnistsMar 25, 2025
The Smart Lab: Using Short-Form Videos to Sell More Jewelry

The time to start experimenting with video content is now, writes columnist Emmanuel Raheb.

Pomellato Nudo High Jewelry Campaign
CollectionsMar 24, 2025
Pomellato’s Latest ‘Nudo’ Collections Revamp its Classic Design

From striking high jewelry to miniature fine jewelry, the new chapter continues to highlight gemstones featuring its signature 57-facet cut.

Jamie Singleton, Bill Brace, Rebecca Wooters, Bill Luth
MajorsMar 24, 2025
4 Top Executives to Depart Signet Jewelers Amid Turnaround

The jewelry giant is reducing its senior leadership by 30 percent as part of its new turnaround strategy.

Sothebys Watchcheck
WatchesMar 24, 2025
Sotheby's Now Offers Watch Repair Services

The auction house's partnership with online watch servicing platform WatchCheck makes repairs convenient and accessible, it said.

Swarovski lab-grown diamond Galaxy earrings
FinancialsMar 21, 2025
Swarovski Says Its Lab-Grown Diamond Sales Doubled in 2024

The company also noted record sales in the United States and a strong performance in its jewelry category.

Branko Gems
SourcingMar 21, 2025
BrankoGems To Hold Conference in Montana

The event, set for June 13-15, will feature educational presentations and guided visits to the state’s sapphire mines.

Til Death Ring by Marrow Fine
TrendsMar 21, 2025
Piece of the Week: Marrow Fine’s ‘Til Death’ Ring

After the black enamel band became a best-seller for the brand, it has now launched an enamel ring personalization program.

Korman Fine Jewelry Austin store
IndependentsMar 20, 2025
Korman Fine Jewelry’s New Store Is Double the Size

The Austin, Texas, jeweler’s new 11,000-square-foot store is set to open this summer.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy