Pandora Shifts to Platinum-Plated Jewellery Amid Silver Market Volatility

Pandora is transitioning to platinum-plated jewellery to mitigate risks associated with the volatile silver market. The move aims to reduce reliance on silver, with plans for over 50% of the silver assortment to shift to platinum-plated by 2027, following major silver price fluctuations.

Pandora, the renowned jewellery brand, is making a strategic shift to platinum-plated products in response to the unpredictable silver market. This significant move comes after a historic surge in silver prices, prompting the new CEO to act decisively.

The brand's stock value has shown high sensitivity to silver price changes, with a recent selloff in silver leading to a rise in Pandora's shares. CEO Berta de Pablos-Barbier emphasized the need to decouple the company's performance from commodity fluctuations, stating, "We are a jewellery brand, not a silver trader."

Pandora plans to introduce platinum-plated versions of its popular bracelets to reduce production costs and dependency on silver. Eventually, the company aims to decrease its silver usage from 60% to around 20%, with a target of transitioning at least 50% of its silver items to platinum-plated by 2027.

(With inputs from agencies.)