Lab-grown diamonds prove their worth as sales increase at Pandora
Laboratory-grown diamonds were the star of the show as Pandora’s sales growth last year exceeded expectations.
Sales of lab-produced diamonds leapt by 83 per cent in 2023, nearly three years after the world’s largest jewellery retailer abandoned selling mined natural diamonds because of reports of human rights abuses at mines and factories.
Black Friday and Christmas shopping also boosted Pandora’s performance in the final quarter, helping the Danish jeweller to end the year with sales up 8 per cent on a comparable basis to 2022. That exceeded previous growth predictions of 5 per cent to 6 per cent.
Growth was mixed, according to analysts at RBC, with Pandora performing well in the United States and Germany but falling below expectations in Australia and China. Pandora,
