They are now up to 10 times cheaper than mined diamonds.
Pandora, the jewelry maker best known for its silver charm bracelets, will stop selling mined diamonds and focus on more affordable, sustainable, lab-grown gems, the company announced Tuesday.
Pandora, which made 85 million pieces of jewelry last year and sold 50,000 diamonds, said it aimed to “transform the market for diamond jewelry with affordable, sustainably created products.”
“Diamonds are not only forever, but for everyone,” Pandora Chief Executive Alexander Lacik said in a statement as the Danish company launched a new collection of man-made stones.
The growing demand for man-made diamonds by millennials attracted to cheaper stones guaranteed not to have come from conflict zones has spurred firms such as De Beers to end its decades-old policy of shunning synthetic gems in its jewelry.