Pandora Expands Lab-Grown Diamonds to European Market

Pandora has launched its synthetic-diamond jewelry in the EU for the first time, choosing its home country of Denmark for the debut.

The Danish jeweler introduced its four lab-grown collections to the country last week: Pandora Talisman, Pandora Infinite, Pandora Nova and Pandora Era. They include necklaces, rings and earrings, with prices starting at DKK 1,899 ($275).

Along with the lab-grown debut, Pandora opened its first flagship last week. The two-story shop on Copenhagen’s main pedestrian street is the company’s largest space to date.

“Our lab-grown diamonds represent the future of luxury,” said Pandora CEO Alexander Lacik. “They combine beauty and responsibility, and we are incredibly excited to bring them to Denmark. As a Danish company, it is particularly meaningful for us to introduce this innovation to our home market.”

Pandora first launched lab-grown diamonds in stores and online at the end of August 2023 throughout the UK, the US, Canada and Australia. In October, it broadened the offering to include Mexico and Brazil.

Last month, the jeweler raised its revenue forecast for the full year following stronger sales than expected. It now believes revenue for 2024 will grow by 8% to 10%, up from the 6% to 9% it reported at the start of the year. Pandora attributed the spike in sales to high demand for its synthetics collections. In the first quarter, revenue climbed 17% year on year to DKK 6.83 billion ($986.3 million).

Image: Lab-grown diamond rings. (Pandora)