Prices have also been falling, and man-made gems are now up to 10 times cheaper than mined diamonds, making them more accessible to a wider range of price-sensitive consumers, the report noted. The market for lab-grown diamonds currently enjoys double-digit growth, according to the latest report from the Antwerp World Diamond Centre and the consulting firm Bain & Company. The lab-created diamonds have been grown with more than 60% renewable energy on average, a figure that is expected to rise to 100% when the collection launches globally.ĭemand for man-made diamonds has been steadily growing, particularly among younger customers, who are eager to identify gems that are guaranteed to be conflict-free and easier on their wallets.
The pieces will start from £250 ($347) and each stone ranges from 0.15 to one carat, the company said. with plans to launch in other key markets next year. It will initially be introduced in the U.K. Read: For Engagement Rings, Are Natural Diamonds on the Way Out?
The company said the new collection aimed to “transform the market for diamond jewelry with affordable, sustainably created products.” The stock has risen more than 10.25% in the year to date, according to FactSet.Ĭopenhagen-based Pandora used mined diamonds in about 50,000 pieces last year out of a total of around 85 million pieces of jewelry. Rose 5.78% in early European trading on Tuesday.
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