The popular jewelry company, Pandora, will no longer source real diamonds and will exclusively use lab grown diamonds instead.
A combination of low cost and sustainability strategies are driving this change to make beautiful jewelry that is more affordable, accessible, and sustainable. Pandora’s decision follows a larger market trend that has seen the production of lab-grown diamonds increase to approximately six or seven million carats in 2020, while mined diamonds saw demand drop.
- Lab-made diamonds are forever: Pandora drops mined gems (May 4, 2021, CGTN Europe)
This post is based on the CNN article, Pandora says laboratory-made diamonds are forever, by Jonathan Josephs, May 4, 2021; CBS News article, Pandora, world’s largest jewelry marker, will no longer use mined diamonds, by Sophie Lewis, May 7, 2021; and the YouTube video in the Spotlight. Image source: Tetra Images/Alamy
1. How does the move to lab-grown diamonds fit with Pandora’s operations strategies?
Guidance: CEO Alexander Lacik says that low cost is a prime driver of the move to using more lab-grown diamonds. While Pandora’s jewelry is recognized for good quality and attractive design, its design and price point are Continue reading