Pandora will launch platinum-plated versions of its bestselling bracelets this year.<\/p>\n
Pandora will launch platinum-plated versions of its bestselling bracelets this year. IDA MARIE ODGAARD\/Ritzau Scanpix\/AFP via Getty Images<\/p>\n
Pandora will launch platinum-plated versions of its bestselling bracelets this year. IDA MARIE ODGAARD\/Ritzau Scanpix\/AFP via Getty Images<\/p>\n
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Pandora, which is known for its iconic silver bracelets, is betting on a different precious metal in 2026 \u2014 platinum.<\/p>\n
The Danish jewelry brand will introduce platinum-plated versions of some of its best-selling bracelets this year to reduce its exposure to price-volatile silver, it said in a Wednesday press release.<\/p>\n
The platinum-plated range will extend to its charm selection in the second half of the year, it added.<\/p>\n
The company said in the press release that this decision was made after “the price of silver and gold has skyrocketed over the past year.”<\/p>\n
“By introducing platinum-plated products, Pandora will reduce its reliance on sterling silver while continuing to offer consumers high\u2011quality, desirable jewellery at accessible price points,” the press release said.<\/p>\n
Pandora, which was founded in Copenhagen in 1982, now has about 2,400 stores in more than 100 countries, according to its website. Its stock price is down about 63% in the past year.<\/p>\n
Representatives for Pandora did not respond to requests for comment from Business Insider.<\/p>\n
Pandora’s pivot<\/p>\n
Pandora’s move “showcases a business undergoing a significant recalibration of its product offer, customer proposition, and supply chain,” Jefferies analysts wrote on Wednesday.<\/p>\n
The shift also underscores how jewelry makers are being forced to rethink materials and pricing as precious-metal markets turn increasingly volatile, after a year of historic gains.<\/p>\n
Pandora is not the only luxury jewelry brand moving away from silver. LVMH executives said in a January earnings call that it is directing Tiffany & Co. to reduce its reliance on silver and move toward gold and fine jewelry.<\/p>\n
Silver has been on a blistering rally, with prices surging as much as 70% in January following a roughly 170% jump last year, driven by a combination of tight supply, heavy investment demand, strong industrial use, and speculation.<\/p>\n
Spot prices hit a record high above $121 troy ounce last week before crashing as much as 36% on Friday in the white metal’s worst single-day drop since 1980.<\/p>\n
Prices have since clawed back some losses, but analysts continue to warn that volatility is likely to remain elevated.<\/p>\n
Spot silver was trading around $77 per troy ounce at 9:49 p.m. ET on Wednesday, still up about 25% year to date. Spot gold, meanwhile, is around $4,862 per ounce.<\/p>\n
Platinum prices have also climbed sharply alongside silver and gold. The metal rose about 165% last year and is up roughly 8.4% so far this year, reinforcing the cost pressures that jewelry makers face.<\/p>\n
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