Alexander Lacik, CEO of Pandora, has forecasted that lab-grown diamonds will dominate the market within the next decade. Speaking to Bloomberg TV last week, Lacik predicted that lab-grown diamonds will make up the majority of diamond sales in ten years.
Pandora stirred controversy in May 2021 by declaring that lab-grown diamonds were more ethical and announcing its decision to stop using mined diamonds. Lacik commented on the significant shift in the industry, attributing it to a technological revolution.
In the interview, Lacik emphasized that consumer choices are driven by two main factors: the appeal of the design and the cost. He noted that while sustainability is a consideration, affordability remains a major motivator for purchasing lab-grown diamonds.
