Spotlight Pandora: Charming the World with Jewelry InnovationsJuly 08, 2021
Known globally for its charm bracelets, Pandora is the world’s largest jewelry brand. Founded in 1982 by a Danish goldsmith and his wife, the firm got its start importing products from Thailand to sell in their small Copenhagen shop. By 1989, they were manufacturing their own designs, and in 2000 launched the charm bracelet concept that would lead to Pandora’s international expansion. Today the firm’s “affordable luxury” jewelry is available in more than 100 countries at price points from $35 to $1,500 with most designs coming in under $100.
This Knowledge Leader considers the Pandora brand to be its core intangible asset and the ability to adapt to change key to the brand’s continued leadership. To that end, last month Pandora announced plans to phase out mined diamonds in favor of its new innovation, lab-created gems. Expected to be available next year for a starting price around $350, Pandora says its lab gems are identical to mined diamonds in optical, chemical, thermal and physical characteristics but grown in a laboratory rather than excavated from a mine. The new diamond alternatives are manufactured via a carbon neutral process in accordance with human rights and labor standards.
In addition, Pandora plans to stop using newly mined silver and gold entirely and buy only from recycled sources by 2025. Last year, about 60 percent of the silver and gold it purchased was recycled. In other R&D news, last year during the pandemic, Pandora launched a new Digital Hub in Copenhagen, home office to about 100 software engineers, user experience designers, web and data analysts tasked with boosting Pandora’s digital presence via AI and data analytics. During COVID-19 closures, the team focused on creating safe shopping experiences, which they delivered in the form of a virtual try-on app, for example. Based in Copenhagen, Denmark, Pandora employs 26,000 people worldwide.
As of 6/30/21, Pandora was held in the Knowledge Leaders Strategy.