Lab-Grown

Pandora’s Moving from Natural to Lab-Grown Diamonds

Lab-GrownMay 04, 2021

Pandora’s Moving from Natural to Lab-Grown Diamonds

The company announced the news alongside its first-quarter results, posting strong revenue in the U.S. market.

20210504_Pandora header.jpg
The “Pandora Brilliance” lab-grown diamond collection debuts in the United Kingdom this week before rolling out to other key markets in 2022.
Copenhagen, Denmark—Pandora is moving into the lab-grown diamond jewelry market, starting with the launch of a new collection in the United Kingdom this week.

The company announced Tuesday that it will no longer be using natural diamonds in its jewelry amid its push for “sustainably created” and affordable products.

The “Pandora Brilliance” collection of lab-grown diamond jewelry will be introduced to the U.K. market Thursday and is expected to expand into other markets in 2022.

“They are as much a symbol of innovation and progress as they are of enduring beauty, and stand as a testament to our ongoing and ambitious sustainability agenda,” CEO Alexander Lacik said Tuesday in announcing the new line. “Diamonds are not only forever, but for everyone.”

Pandora Brilliance includes rings, bangles, necklaces and earrings, each featuring a lab-grown diamond hand-set in sterling silver or 14-karat yellow or white gold. The collection’s motif is a take on the infinity symbol.

“The concept is about infinite possibility—that the future is yours to shape,” said Pandora.

Actress Rosario Dawson and model Ashley Graham will promote the line in the U.K., Professional Jeweller reported.

The pieces start at £250 ($346) and each stone ranges from 0.15 to 1 carat.

Pandora has been working toward greater sustainability and recently put a lot of money behind this goal, tying borrowing costs on a new €950 million credit facility to reducing its carbon footprint and using recycled metals. It set goals of becoming carbon neutral in its own operations and using only recycled silver and gold by 2025.

The company said the Pandora Brilliance collection has been certified as a CarbonNeutral product by The Carbon Neutral Protocol, a certification that covers the jewelry as well as packaging and transportation.

Pandora said the diamonds in the Brilliance collection are currently grown with more than 60 percent renewable energy. The collection is expected to be created with 100 percent renewable energy by its global launch.

The news about the lab-grown diamond collection came as the company announced its first-quarter results.

Pandora posted strong first-quarter revenue as online sales surged and select physical stores reopened. 

First-quarter revenue was up 8 percent year-over-year to 4.5 billion Danish kroner ($729.9 million) compared with 4.17 billion Danish kroner ($606.5 million) in the first quarter last year.

Quarterly like-for-like sales were up 36 percent year-over-year. (Like-for-like represents true comparable sales from stores that have been open for at least a year, excluding currency fluctuations.)

 Related stories will be right here … 
“We have had a good start to 2021, not least considering that many of our stores have been closed,” said Lacik in a press release about the results. 

“Performance in the U.S. and online continues to be strong, and we keep investing in building brand desirability, digital capabilities and operational excellence.”

By product category, sales of charms and bracelets both rose 7 percent in the quarter.

Ring sales rose 9 percent while earring sales were up 10 percent. Sales of necklaces and pendants were up 9 percent.

By sales channel, Pandora-owned retail stores, including the online store, brought in 2.96 billion Danish kroner ($478 million) in the first quarter, up 13 percent from the previous year.

Overall traffic into its physical stores was down by around 50 percent year-over-year, though Pandora noted the conversion rate is high.

In the United States and Australia, as physical stores began to reopen, store traffic was positive. It was the same story for its U.K. stores, which reopened in early April.

During the first quarter, around 30 percent of Pandora’s physical stores were temporarily closed due to COVID-19 restrictions, growing nearer to 35 percent by the end of March.

The company operated 2,659 stores as of the first quarter, 87 fewer when compared with the previous first quarter. 

It has 543 fewer other points of sale year-over-year, fueled by closures in the U.S. and Spain and the termination of 230 accounts with Signet-owned Jared the Galleria of Jewelry.

Wholesale sales in the first quarter were up 3 percent to 1.37 billion Danish kroner ($220.7 million). 

Online sales surged 136 percent year-over-year to 1.42 billion Danish kroner ($229.1 million) and accounted for 31 percent of total revenue.

Pandora invested in driving online traffic, including email marketing and trying out new platforms in the U.S. like TikTok and Twitch, a live streaming video service usually reserved for video games.

In the U.S., Pandora’s largest market accounting for 31 percent of total revenue, sales were strong in the first quarter following Valentine’s Day and a rise in demand for discretionary goods due to stimulus checks.

Quarterly revenue in the U.S. totaled 1.39 billion Danish kroner ($224.9 million), up 49 percent year-over-year.

Looking ahead, Pandora upped its financial guidance for the fiscal year. 

It expects organic revenue growth to top 12 percent, compared to its previous estimate of about 8 percent. 

Guidance for EBIT margin rose to about 22 percent from about 21 percent.

The updated guidance is dependent on 20-25 percent of stores being temporarily closed during the first half of 2021, compared with prior guidance of 25 percent. In the second half of the year, that number is expected to drop to 5-10 percent. 

Temporary store closures are expected to negatively impact organic growth by 6 percent for the full year.

The company does not expect to see any major changes to its overall store network.

Pandora has completed its two-year “Programme” Now turnaround plan, which aimed to stabilize its topline, increase brand relevance and access, and reduce costs.  

It is set to move onto a new strategy, dubbed “Phoenix,” that is focused on sustainable growth. Details of the plan will be shared during its Capital Markets Day in September.

The Latest

Jeweler setting a diamond into a ring
MajorsJul 21, 2025
Rio Grande Expands Personalization Offerings

As demand for custom jewelry grows, the company is expanding its services to support retailers.

National Associate of Jewelry Appraisers Logo
Events & AwardsJul 21, 2025
NAJA’s 2025 ‘Ace It’ Conference To Go Virtual

The mid-year conference for jewelry and watch appraisers is slated for Aug. 9 to 10 on Zoom.

Jacquie Aiche graduated turquoise beaded necklace
TrendsJul 21, 2025
Amanda’s Style File: Graduated With Honors

Graduated stones make for elevated tennis-style pieces and dramatic statement necklaces.

rio-article photo-diamond.jpg
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine Jewelry

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

24th Gem Awards Show Logo
Events & AwardsJul 21, 2025
Gem Awards Now Accepting Nominations for 2026

Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.

Weekly QuizJul 17, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Lewis Heyman
MajorsJul 18, 2025
Lewis Heyman on Sourcing Gemstones, Post-Retirement Plans

He retired last month after 28 years traveling the world to source the very best gemstones for his family’s jewelry business, Oscar Heyman.

CCWW Designs Multiple Shell Charm Necklace
TrendsJul 18, 2025
Piece of the Week: CCWW Designs’ Shell Charm Necklace

The charm necklace features six nautical charms of shells and coral that founder Christina Puchi collected on Florida’s beaches.

an instructor and a student in a bench jewelry classroom
Brought to you by
Investing in the Next Generation of Bench Jewelers

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

The Plumb Club board members
MajorsJul 18, 2025
Plumb Club Elects New Board Members

The organization elected its youngest vice president as it looks to draw in fresh talent.

Jewelry industry veterans Brad Campbell and John Liebler
TechnologyJul 18, 2025
Brad Campbell, John Liebler Join Clientbook’s Executive Team

Campbell joins the company as vice president of business development while Liebler is the new vice president of operations.

Silver, Gold, and Bronze Medals for Italy Olympic Winter Games
CollectionsJul 17, 2025
2026 Winter Olympic Medal Design Symbolizes Unity

The medals feature a split-texture design highlighting the Games’ first time being hosted by two cities and the athletes’ journeys.

vimeo screenshot.png
Supplier BulletinJul 17, 2025
The INSTORE Jewelry Show 2025: Your Holiday Preparations, All Wrapped Up!

Sponsored by The INSTORE Jewelry Show 2025

Guinness
SurveysJul 17, 2025
The Most Recommended Brands in the World, According to YouGov

Globally, travel and transportation brands reigned, while in the U.S., alcoholic beverage companies and a lingerie brand took the top spots.

Gina Ferranti
IndependentsJul 17, 2025
Gina Ferranti of GiGi Ferranti Jewelry Dies at 59

The Brooklyn-based jewelry designer is remembered as a true artist and a rare talent.

Rio Tinto Chief Executive Simon Trott
SourcingJul 17, 2025
Rio Tinto Names New CEO, Production Rises at Diavik

Production at the mine in Canada’s Northwest Territories topped 1 million carats in Q2, the third consecutive quarter of growth.

Jewelers of America Learning Workship Logo
Events & AwardsJul 17, 2025
JA to Hold Learning Workshops This Fall

A new slate of Learning Workshops will take place in Oklahoma, Mississippi, and Georgia.

Gold bracelets and bangles
SurveysJul 16, 2025
Signet Jewelers Falls Lower on NRF’s ‘Top 100’ Retailers List

The middle class is changing its approach to buying jewelry and affordable luxury goods, the NRF said.

Buccellati Opera high jewelry bracelet
FinancialsJul 16, 2025
Richemont’s Jewelry Sales Up 7% in Q1

It marks the third consecutive quarter of growth for Cartier, Van Cleef & Arpels, Buccellati, and Vhernier.

Rolex Datejust ref. 16233
WatchesJul 16, 2025
The Top-Selling Rolex Models of the Last 15 Years, According to Bob’s Watches

The reseller’s market trends report, based on its sales data, also shows exactly how much Rolex prices have jumped since 2010.

Jean Dinh Van Orgue Ring
AuctionsJul 16, 2025
Christie’s To Honor Dinh Van With Exhibition

The auction house will be hosting a retrospective paying tribute to jeweler Jean Dinh Van and his company’s 60th anniversary.

Jake Duneier and Danielle Duneier
IndependentsJul 16, 2025
Clyde Duneier Ushers In Fourth Generation

Jake Duneier and Danielle Duneier-Goldberg have stepped into the roles of CEO and president, respectively.

Boucheron Impermanence Boucheron Dragonfly Earrings and Wisteria Hair Piece
CollectionsJul 15, 2025
Boucheron’s New High Jewelry Calls Attention to Nature’s Impermanence

The “Impermanence” collection contemplates nature through the Japanese art of Ikebana (flower arranging) and philosophy of wabi-sabi.

James Avery Cedar Park
MajorsJul 15, 2025
James Avery Expands to 2 More States

The Texas-based jewelry retailer has set up shop in Tennessee and Arizona.

Eric Ford, Couture’s new brand director and former fine jewelry buyer at Neiman Marcus
Events & AwardsJul 15, 2025
Neiman Marcus Vet Joins Couture as Brand Director

Eric Ford will step into the role, bringing with him decades of experience.

Bench jeweler holding a ring and a tool
MajorsJul 15, 2025
Ben Bridge Jeweler Acquires Olympic Manufacturing

In addition to improved capabilities, the acquisition will allow the jeweler to offer support to other independent jewelers.

Guzema Celestial Blue
CollectionsJul 15, 2025
Guzema Debuts First Colored Gemstone Jewelry

The “Celestial Blue” capsule collection campaign features Olympian Kateryna Sadurska.

Nanis Mykonos Store Exterior and Interior
MajorsJul 14, 2025
Nanis Opens First Store

The seasonal store, located in Mykonos, Greece, offers exclusive events, personal styling, and curated experiences.

×

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