FinancialsApr 15, 2026
Kering’s Jewelry Shines in Q1, Gucci’s Struggle ContinuesFinancialsMay 06, 2026
Pandora to Add Carbon Footprint Info to Lab-Grown Diamonds
The company announced the change alongside its Q1 results, which showed that the jewelry brand’s year is off to a shaky start.
“Pandora Brilliance” lab-grown diamond rings. The Danish jewelry giant will now add carbon footprint labeling to its lab-grown diamond jewelry.
Copenhagen, Denmark—Pandora had an underwhelming start to its fiscal year as low consumer sentiment, particularly among lower- and middle-income consumers, weighed on its North American sales.
However, the jewelry company said it is preparing for the next stage of its evolution, with a greater focus on design, evolving its marketing model, and appealing to new and existing markets.
It also is changing how it markets lab-grown diamonds in an effort to generate more interest in the category, which recorded a double-digit drop in sales in Q1.
In a statement released Wednesday alongside its first-quarter results, Pandora said it “over indexed” on its “playful” jewelry aesthetic, noting it’s seen growth in its more underrepresented aesthetics, including “sparkling,” “bold,” and “organic.”
Its “Bridgerton” jewelry collab is the “perfect” example of its new approach, said Pandora, showing clear product differentiation and growth beyond charms.
Pandora also collaborated with musical group Katseye on the “Minis” collection and in July, it will launch “Pandora Wonders,” a multi-year program in which the jewelry company will partner with artistic communities to promote craftsmanship and design.
On the company’s earnings call Wednesday, CEO Berta de Pablos-Barbier said the retailer also will add carbon footprint labeling to its lab-grown diamonds.
“This means that consumers will be able to see the climate impact of every Pandora diamond and compare that with a mined diamond,” she said.
She stated on the call that Pandora’s lab-grown diamonds have a carbon emission “90 percent lower” than a mined diamond of the same size. Pandora likened their carbon footprint to a pair of jeans.
The retailer commissioned its own third-party study but based the 90 percent comparison on a study commissioned by the Diamond Producers Association (now the Natural Diamond Council) in 2019.
That study is now seven years old and, according to Rob Bates of The Jewelry Wire, and was deemed faulty by the U.S. National Advertising Division for not using enough data.
“Pandora is about being accessible, and being accessible is also about being transparent. We do think that this will reshape how the environmentally conscious consumers will be choosing within the category. As a leader, we have to be present, providing the facts,” Pablos-Barbier said on the call.
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However, the jewelry company said it is preparing for the next stage of its evolution, with a greater focus on design, evolving its marketing model, and appealing to new and existing markets.
It also is changing how it markets lab-grown diamonds in an effort to generate more interest in the category, which recorded a double-digit drop in sales in Q1.
In a statement released Wednesday alongside its first-quarter results, Pandora said it “over indexed” on its “playful” jewelry aesthetic, noting it’s seen growth in its more underrepresented aesthetics, including “sparkling,” “bold,” and “organic.”
Its “Bridgerton” jewelry collab is the “perfect” example of its new approach, said Pandora, showing clear product differentiation and growth beyond charms.
Pandora also collaborated with musical group Katseye on the “Minis” collection and in July, it will launch “Pandora Wonders,” a multi-year program in which the jewelry company will partner with artistic communities to promote craftsmanship and design.
On the company’s earnings call Wednesday, CEO Berta de Pablos-Barbier said the retailer also will add carbon footprint labeling to its lab-grown diamonds.
“This means that consumers will be able to see the climate impact of every Pandora diamond and compare that with a mined diamond,” she said.
She stated on the call that Pandora’s lab-grown diamonds have a carbon emission “90 percent lower” than a mined diamond of the same size. Pandora likened their carbon footprint to a pair of jeans.
The retailer commissioned its own third-party study but based the 90 percent comparison on a study commissioned by the Diamond Producers Association (now the Natural Diamond Council) in 2019.
That study is now seven years old and, according to Rob Bates of The Jewelry Wire, and was deemed faulty by the U.S. National Advertising Division for not using enough data.
“Pandora is about being accessible, and being accessible is also about being transparent. We do think that this will reshape how the environmentally conscious consumers will be choosing within the category. As a leader, we have to be present, providing the facts,” Pablos-Barbier said on the call.
Pandora’s first-quarter revenue was down 3 percent year-over-year at actual exchange rates (up 2 percent on an organic basis) to 7.12 billion Danish kroner ($1.1 billion), with like-for-like sales growth flat.
In North America, Pandora saw like-for-like sales dip 2 percent, which the company attributed to the decline in consumer sentiment and slowing store traffic.
“We delivered 2 percent organic growth in the quarter, in line with our expectations, and are advancing our initiatives to re-energize Pandora’s growth engine,” Pablos-Barbier said in the company’s Q1 results news release.
“At the same time, we are expanding into new materials, positioning Pandora as a multi-material jewelry brand over time. We remain focused on executing our strategic plans despite the uncertain economic and geopolitical backdrop.”
The retailer announced in February that it would start selling platinum-plated jewelry to mitigate the impact of volatile gold and silver prices.
It piloted a selection of platinum-plated bracelets in 30 stores across Northern Europe and online in Q1, with plans to launch the selection globally in the second half of the year, with a broad rollout planned for 2027.
By 2027, Pandora said it plans to transition at least 50 percent of its relevant silver jewelry to platinum-plated pieces, with the rest to follow by 2028, with most production in-house.
“Today, over a third of our sales already come from outside silver. Plating today is pretty much a quarter today of our sales,” Pablos-Barbier said on the call.
Pandora’s like-for-like sales were down 1 percent for its core segment, which includes its “Moments” and “Me” collections and its collaborations.
The decline was offset slightly by the strength of its “Talisman” collection. Earlier this year, Foundrae filed a lawsuit against Pandora, alleging the company copied its medallion designs for the “Talisman” collection.
Its “fuel with more” segment, which includes lab-grown diamond jewelry as well as the “Timeless” and “Signature” collections, saw 1 percent like-for-like growth in the quarter.
Sales of its lab-grown diamond jewelry collection totaled 75 million Danish kroner ($11.8 million) in the quarter, meaning the category accounted for about 1 percent of the company’s total sales.
Like-for-like growth down 15 percent year-over-year.
By channel, online sales were down 1 percent in Q1, while like-for-like sales at its physical stores were flat.
Pandora closed net 15 stores and 33 shop-in-shops in Q1, in line with its expectations.
Its store count stands at 2,796, with 2,178 of those stores operated by Pandora.
Pandora said it plans to open 50 to 75 net concept stores, though it will close a net 25 to 50 Pandora operated shop in shops.
Looking ahead, Pandora maintained its forecast of -1 to +2 percent organic growth with an EBIT margin of 21 to 22 percent.
“Pandora remains mindful of the geopolitical environment and the elevated economic uncertainty,” the company said in its release.
In Q2, current trading shows flat like-for-like growth.
Pandora’s Q2 results are set to be released Aug. 13.
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