Johannesburg - Pandora, the world’s largest jewellery brand, announced on Tuesday that it will be launching lab-created diamond jewellery in the US. and Canada.
The introduction marks a milestone for the world’s largest diamond market, where an increasing number of consumers will now be able to buy diamond jewellery.
“The future of luxury is here today, and lab-created diamonds are just as beautiful as mined diamonds, but available to more people and with lower carbon emissions,” Pandora CEO Alexander Lacik said in a press release.
“We are proud to broaden the diamond market and offer innovative jewellery that sets a new standard for how the industry can reduce its impact on the planet.”
The global diamond jewellery market is estimated at $84 billion (R1.42 trillion), and is expected to continue to grow as lab-created diamonds are outpacing the industry's overall growth, with America being the world’s largest diamond jewellery market.
Lacik explained that lab-created diamonds are identical to mined diamonds, but they are grown in a laboratory rather than excavated from a mine. These diamonds have the same optical, chemical, thermal and physical characteristics and are graded by the same standards known as the 4Cs – cut, colour, clarity and carat.
“Pandora’s lab-created diamonds are grown, cut and polished using 100% renewable energy and have a carbon footprint of only 8.17 kg CO2e per carat – five percent of that of a mined diamond,” said Lacik.
“These lab-created diamonds are grown in the US and point to a future of low-carbon diamonds for jewellery and industrial use.”
Lacik explained that for perspective, if all diamonds were mined with the same low carbon footprint as Pandora’s lab-created diamonds, it would save more than six million tons of CO2e annually – this is similar to replacing all cars in New York City with electric vehicles.”
To further reduce the climate impact of the jewellery, it is the first Pandora collection crafted with 100% recycled silver and gold. “This brings greenhouse gas emissions of the collection’s entry product – a silver ring with a 0.15-carat lab-created diamond (US$300) – down to 2.7 kg CO2e, which is equal to the average emissions of a t-shirt,” said Lacik.
“The flagship product – a one-carat lab-created diamond set in a 14k solid gold ring ($1950) – has a footprint of 10.4kg CO2e, which is less than the average emissions of a pair of jeans.”
The new Pandora diamond collection is a significant breakthrough for the jewellery giants, as the company has committed to crafting all its jewellery from recycled silver and gold by 2025.
The 33-piece collection is named Pandora Brilliance and includes rings, bangles, necklaces and earrings, each featuring a solitary, VS+ clarity lab-created diamond handset within sterling silver, solid 14K yellow gold or solid 14K white gold. The collection will be available to purchase from Thursday (August 25) across 269 Pandora stores in the US and Canada, as well as from their website.