Lab-Grown Diamonds Will Be More Popular Than Mined in 10 Years, Says Pandora CEO
- Jewelry company raises guidance a second time in three months
- Pandora’s lab-made diamonds are outpacing other jewelry lines
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Pandora A/S’s chief executive officer expects it will take less than 10 years before consumers buy more lab-grown diamonds than mined stones because they increasingly weigh up costs and climate impact when buying jewelry.
Alexander Lacik, whose company makes more pieces of jewelry than any other in the world, said he estimates that manufactured diamonds currently make up about 20% of the total market, according to interviews with Bloomberg TV and by the phone.