Pandora Cuts Silver Use, Expands Platinum-Plated Jewellery Line

Global jewellery giant Pandora has announced a major shift in its metal strategy, revealing plans to gradually reduce the amount of silver used in its jewellery collections and increase the use of platinum-plated pieces. The decision comes after a sharp and sustained rise in silver prices, which have more than doubled over the past year and put pressure on the company’s profit margins.

Silver has traditionally been Pandora’s primary raw material, with the majority of its well-known charm bracelets, rings, and necklaces crafted from the metal. However, recent price volatility has forced the Danish brand to rethink its dependency on silver, which executives say has exposed the company to unpredictable cost swings.

Pandora’s chief executive, Berta de Pablos-Barbier, said the company does not plan to replace silver entirely but aims to reduce its share to roughly 25% of total offerings over the coming years. The strategy is designed to balance affordability with durability while protecting the brand from sudden commodity price spikes.

Although platinum is generally more expensive per ounce than silver, Pandora intends to use a specially developed alloy to lower production costs. The company will also rely on platinum-plating techniques rather than solid platinum, making the finished jewellery more accessible to everyday consumers. This approach mirrors the brand’s existing use of its proprietary metal blend known as “Evershine,” which is already applied to its gold-plated ranges.

Industry experts say the move is both practical and strategic. Jewellery historian Vivienne Becker noted that platinum carries a premium and luxurious image among buyers, even when used in plated form. According to her, customers often associate platinum with prestige and durability, which may help Pandora maintain a sense of value despite changes in material composition.

At the same time, broader consumer trends are also influencing the decision. As gold prices continue to climb, many shoppers have begun gravitating toward white metals such as silver and platinum. This shift in preference has created new opportunities for brands willing to adapt their product lines.

Pandora plans to introduce its first platinum-plated collections in 2026, with a broader rollout expected in subsequent years. In the early stages, the company will outsource platinum plating to third-party partners before eventually transferring the process to its own manufacturing facilities in Thailand and Vietnam. Executives say this phased transition will allow better cost control and improved quality management over time.

The company aims to complete the pivot toward platinum by 2028. According to internal testing, consumers have shown strong acceptance of platinum-plated jewellery, particularly due to its resistance to tarnish and scratches compared to traditional silver. Pandora believes the enhanced durability will appeal to customers seeking everyday wear pieces that maintain their shine longer.

Recent financial results revealed that surging silver prices had a temporary but noticeable impact on earnings. The company admitted that rising raw material costs have eaten into profits, reinforcing the need for a more diversified metal strategy. De Pablos-Barbier also expressed frustration that Pandora is often viewed primarily as a silver-based brand rather than a broader jewellery house, emphasizing her intention to reshape that perception.

Pandora remains globally recognized for its charm bracelets, a product category that has helped define the brand for decades. Its stores are commonly found in premium shopping malls across Europe, Asia, and North America, catering to a wide customer base seeking affordable luxury.

The rise in precious metal prices is not limited to silver. Gold and platinum have also seen significant rallies as investors increasingly turn to safe-haven assets during periods of geopolitical and economic uncertainty. However, silver differs from other precious metals because its price is heavily influenced by industrial demand. The metal is widely used in electronics, solar panels, batteries, and medical equipment, meaning fluctuations in global manufacturing and technology sectors can quickly affect supply and pricing.

Market analysts point out that silver’s designation as a critical mineral in the United States and tighter export controls from major producers have further complicated the supply landscape. These factors have contributed to price surges and added pressure on companies that rely heavily on the metal.

By gradually shifting toward platinum-plated jewellery and reducing its silver exposure, Pandora hopes to stabilize costs, improve product durability, and strengthen its brand image in the competitive global jewellery market. The move signals a long-term transformation rather than a short-term adjustment, reflecting both economic realities and evolving consumer preferences.