Pandora, the world's largest jewellery brand by volume, reported strong full-year results for 2024, and its lab-grown diamond collection grew by 43% on a comparable basis. The collection generated around DKK 315 million in revenue in 2024.
Where Pandora sells lab-grown diamonds
Pandora launched lab-grown diamond collections in the US, Canada, the UK and Australia in 2023, and they are also available in New Zealand and its home market of Denmark. The US and Canada remain its largest lab-grown markets.
Why this is good news
- Proof of demand. Growth of 43% shows that consumers want accessible diamond jewellery.
- Mainstream acceptance. When a global brand grows a category this fast, other retailers follow.
- Wider reach. Pandora's customers include many first-time diamond buyers, bringing new people into the diamond market.
What it means for independent jewellers
Big brands build awareness; independents win with choice, bespoke design and larger certified stones. A jeweller who can offer a 1.5-carat oval engagement ring or a custom tennis bracelet with laboratory-grown diamonds has something a mass-market collection doesn't.
What it means for Surat
Rising retail demand around the world means steady demand for well-cut laboratory-grown diamonds, and Surat is where most of them are polished.
If you're a jeweller building your own collection, see our price list or talk to us.
