Pandora’s president and CEO Alexander Lacik says the work of its UK operation has been vital in shaping the roll-out of its lab-created diamonds offer for the North American market.

The company announced earlier this week that it finally plans to launch its lab-grown diamond collection into North America under the ‘Diamonds by Pandora’ brand, with further collections due to be added into the larger umbrella concept.

And speaking to analysts in a conference call this week following the publication of its second quarter results, Mr Lacik revealed just how intrinsic the UK has been to developing the offer globally.

Advertisement

It has been selling lab-grown diamond jewellery in the UK since May last year via its ‘Pandora Brilliance’ collection, with management at its corporate HQ keeping a very close watch on how the offer has been received.

“We have generated important learnings from the UK test launch and that truly helped us sharpen the North America launch cloud,” he said. “We’re very excited about this opportunity. Diamond jewellery is a DKK 600 billion (£68 billion) market globally and lab-created diamonds are a growing part of that.

“North America is not only where we have our largest geographical presence, it’s also the largest market for lab-created diamonds. We believe we have a unique position with our retail footprint, brand awareness and understanding of our customer base.”

Diamonds by Pandora will be available in 269 stores in North America from next week, with prices starting from $300 (£250).

The launch marks significant progress on Pandora’s strategic ambition to be a low carbon and circular business.

“The diamonds are grown, cut and polished using only renewable energy and it’s also the first collection set in a 100% recycled silver and gold from Pandora,” said Mr Lacik. “All of this results in a very low carbon footprint. Our diamonds have a carbon footprint for only 5% that of a mined diamond.”

Mr Lacik said that the value of lab-grown diamond market was around DKK 84 billion (£9.5 billion) based on a study by management consultancy firm Bain.

Pandora takes on Big Apple with new Manhattan ‘hub’

Previous articleHot Diamonds arms retailers with new collections for peak season
Next articleBirmingham Jewellery Quarter to foster local business growth with ‘Incubator’ project