LONDON – Jewelery giant Pandora has said it will no longer sell mined diamonds, instead working exclusively with lab-made diamonds.
Bloomberg reported, citing information provided by the company itself.
Concern for the environment weighed on the decision on the one hand, and the increasingly discussed working conditions and practices of the mining industry on the other. This has led in recent years to a growing search for alternatives to mined diamonds.
Alexander Lacik, CEO of Pandora, told the BBC that the change is part of a strategy towards greater sustainability of the company. “It’s the right thing to do.” On the other hand, making diamonds in the laboratory is also cheaper: “We can essentially achieve the same result as nature, but at a very, very different price”, and clearly without having to dig and mine the earth.
The lab-made diamonds are made in the UK, which will also be the first country they will be sold in. The price of the new diamond jewelery will start from 250 pounds (~ 320 francs). From 2022 onwards, the company intends to open up to other markets.
According to Lacik, the lower prices could lead to an increase in jewelry purchases in everyday use, and no longer just for gifts as in the case of events or ceremonies.