Pandora Innovates with Platinum-Plated Jewellery Amid Silver Market Volatility

Pandora plans to introduce platinum-plated jewellery to reduce its reliance on silver amid market volatility. The company aims to transition from 60% silver to 20% and shift at least 50% to platinum-plated by 2027. This strategic move is driven by price fluctuations in the silver market.

Pandora, aiming to dissociate itself from the unstable silver market, announced plans to introduce platinum-plated products. The initiative follows a noteworthy rise in silver prices, causing significant fluctuations in the company's stock value, CEO Berta de Pablos-Barbier revealed on Thursday.

Currently the world's largest jewellery brand by number of products sold, Pandora is struggling with limited pricing flexibility as customers cut back on discretionary expenses. Despite achieving a 4% organic revenue growth in the fourth quarter, Pandora anticipates modest revenue growth of up to 2% this year.

The introduction of platinum-plated charm bracelets aims to provide consumers with a luxurious appeal while managing production costs. Pandora targets to significantly reduce its reliance on silver by moving 50% of its products to platinum-plated metals by 2027, responding to silver's recent price volatility.

(With inputs from agencies.)