(qlmbusinessnews.com . Sun 8th Feb, 2026) London, UK —
Silver's Skyrocketing Cost Pushes Pandora Towards Platinum-Plated Collections
Pandora, the esteemed jewellery brand, has announced a significant shift in its manufacturing process, opting to embrace platinum-plating for some of its collections, in response to the soaring costs of silver.
In recent times, the price of silver has witnessed an unprecedented rise, doubling over the last year, with other precious metals like gold also experiencing a surge in value. Berta de Pablos-Barbier, the Chief Executive of Pandora, stated that the strategic move to incorporate platinum plating is not intended to overhaul all jewellery items but aims to reduce the reliance on silver, which will now constitute approximately 20% of their products. This decision is driven by the need to mitigate the impact of silver's fluctuating prices on the company.
Predominantly, Pandora has relied on silver for the creation of its vast array of jewellery pieces, with the metal accounting for about 60% of its business portfolio. Famous for its captivating charm bracelets, the Danish jewellery giant is among the largest retailers globally in its sector.
Despite platinum's higher market price compared to silver per ounce, Pandora plans to employ platinum plating over an alloy, a method that is projected to be more cost-effective. Consequently, the company assures that this shift will not influence the pricing of the final jewellery pieces for consumers.
Vivienne Becker, a renowned jewellery historian, highlighted that platinum's elite status would continue to offer consumers a sense of luxury and value. Moreover, Becker pointed out that the consumer trend is increasingly leaning towards white metals, especially after the hike in gold prices, marking Pandora's strategy as a smart marketing move that targets the upscale market segment.
Echoing this sentiment, Pandora revealed consumer insights that position platinum as the second most valued white metal after solid white gold. The company is set to launch a select range of its top-selling bracelets in platinum-plated versions, initially available across thirty stores in northern Europe and online, with plans for a global expansion in the latter half of 2026.
In the interim, Pandora will rely on external partners for the platinum plating process before transitioning to its own facilities in Thailand and Vietnam, with the complete shift slated for completion by 2028.
Addressing the volatility of silver prices and its repercussions on the company, de Pablos-Barbier expressed to CNBC the necessity for Pandora to detach itself from the unpredictability associated with silver trading.
With silver prices reaching over $100 per ounce at the start of the year and although they have somewhat reduced, they remain significantly higher than the previous year, impacting Pandora's financial performance temporarily.
The surge in the prices of precious metals is partly attributed to their appeal as “safe haven” assets among investors amidst global geopolitical tensions and economic uncertainties.
Danni Hewson, AJ Bell's head of financial analysis, remarked on the intrinsic link between silver and the global economy, noting its extensive use in various industries, which causes its demand to fluctuate based on the world's economic growth rate.
This strategic pivot by Pandora signifies a momentous adaptation in the jewellery industry, as the brand seeks to navigate through the challenges posed by the volatile precious metals market while continuing to offer high-value products to its clientele.
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