Pandora has confirmed the arrival of its lab-created diamond jewellery in Australia with the launch of three new collections.
In August of last year, Pandora launched its first exclusive lab-created diamond collection in the US – Diamonds by Pandora. The company released a lab-created diamond collection in the UK for the first time in 2021.
Now, Australians will have access to Pandora Nova, featuring round brilliant or princess cut diamonds with a proprietary four-prong setting.
Pandora Era is a collection with an emphasis on ‘timeless and classic styles’, while Pandora Infinite is jewellery featuring the infinity symbol.
“As the third market to launch Pandora lab-grown diamonds, our aim is to make exceptional diamond jewellery affordable and accessible to all Australians and in doing so, fuel the category and Pandora’s growth in the market,” general manager of Pacific Greater Asia David Allen said.
“Our launch plan will introduce three collections in close to 50 stores across the country including online, with expansion to the majority of the network in late October in time for Christmas.”
Each collection features excellent cut VS+ clarity lab-created diamonds available between 0.1 to one-carat stones set in 14-carat white gold, 14-carat yellow gold, and sterling silver.
The new collections will be introduced to consumers through a campaign that features a cast of ‘cultural icons’ to be revealed on 29 August.
“Consumers in the US and the UK have welcomed our lab-grown diamonds and we will continue to make them accessible to more people around the world by expanding our collections and distribution,” CEO Alexander Lacik said.
“We have big ambitions for this category, aligned to our mission of providing high-quality, affordable jewellery at a very high level of craftsmanship.”
The new collection will be available in selected stores and online in Australia from 31 August. Prices start at AUD $500.
Optimistic outlook
Pandora has also published its second-quarter financial report, detailing a five per cent increase in sales between April and June.
Global sales reached Kr.5,894 ($AU1.34 billion) guided by improved performance in the US and China. For the first half, Pandora has achieved sales of Kr.11,745 ($AU2.67 billion), a three per cent increase on a year-on-year comparison.
“We are pleased with delivering yet another solid quarter against a backdrop of macroeconomic uncertainty. We have consistently demonstrated that the foundations built under the Phoenix strategy are yielding positive results,” Lacik said.
“Given our solid performance so far, our updated guidance now sees another year of positive organic growth”.
Pandora has raised its expected organic sales outlook to an increase of between two and five per cent, which was previously forecast at between two and three per cent.
Sales declined by five per cent in Australia specifically, which the report attributing this decline to weak consumer demand. Pandora’s owned-and-operated concept stores outperformed the wholesale channel.
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