Pandora stated in the announcement that as the world's largest jewelry brand, the company will "continue to break industry traditions and firmly believe that diamonds should be worn by more people in more occasions".
▲ Image source: Pandora's official website
These three series include:
Pandora Nova (featuring round bright cut or princess square cut diamonds with four pronged inlay)
Pandora Era (interpreting timeless classic style)
Pandora Talisman (includes five pendant designs inspired by the Charm bracelet collection)
All series of products will use Excellent cut, nearly colorless, VS or above purity grade cultivated diamonds, with a bare diamond weight of 0.15-1.00 carats and inlaid materials of 14K white gold, 14K gold or silver, with an initial unit price of $290.
We have already launched diamond jewelry cultivation in the UK, USA, and Canada. Now we plan to expand our territory to Australia, Mexico, and Brazil
Alexander Lacik, the CEO of the company, believes that the North American and UK markets welcome Pandora's cultivation of diamond products, so the company has great hope for such products.
The promotion time for the three new series mentioned above is expected to start on August 29th, with over 700 stores (and online stores) located in the UK, the US, Canada, and Australia being the first to be launched on August 31st. Some products will be launched in stores in Mexico and Brazil by the end of October, and all products are expected to be launched in the first quarter of 2024.
In addition, Pandora also emphasized in the second half of the announcement that cultivated diamonds and natural diamonds have the same visual, chemical, thermodynamic, and physical properties, and are graded according to the same criteria and 4C. Pandora's cultivated diamonds since August 2022 have been grown and ground using 100% clean energy, with a carbon footprint of approximately 5% of that of natural diamonds of the same size.
▲ Image source: Pandora's official website
Pandora released its financial report for the second quarter of 2023, which includes:
The sales of cultivated diamond products reached 32 million Danish kroner (approximately $4.69 million), an increase of 291% compared to the same period last year.
In the first half of this year (January June), the total sales of cultivated diamond products reached 66 million Danish kroner (approximately 9.68 million US dollars), an increase of 268% compared to the same period last year. (As shown in the above figure)