Pandora is set to launch platinum-plated versions of its best-selling charm bracelets, according to Fashion Network, as the brand responds to a steep rise in silver prices. With the cost of silver—Pandora’s main raw material—more than doubling in 2025, the jewellery giant has had to rethink how it keeps its signature pieces affordable.
The new bracelets will be coated in platinum over Pandora’s existing “Evershine” metal alloy, already used in its gold-plated collections. While the company hasn’t revealed the exact makeup of Evershine, it states the platinum finish is built to last and designed for everyday wear.
CEO Berta de Pablos-Barbier, who joined the brand in January, described the move as a way to manage rising costs without passing hefty price hikes onto shoppers.
This change comes amid broader challenges for Pandora. Rising material costs are only part of the picture; US tariffs and cautious spending from lower-income consumers are also weighing on the brand.
Its silver charm bracelets start at around US$70, and its range includes lab-grown diamond jewellery made in its factories in Thailand, reflecting Pandora’s focus on accessible luxury rather than high-end pricing.
Financially, the picture is cautious. Pandora expects organic revenue growth of up to 2% this year, though a small decline is possible if conditions worsen. Operating margins are forecast to fall to between 21% and 22% in 2026, down from 23.9% last year, with the biggest squeeze expected early in the year before easing later.
Sales growth has already slowed. Fourth-quarter organic sales rose 4%, down from 11% a year earlier, but still in line with analyst expectations. Pandora expects margins to gradually recover through cost controls and new product launches as the year progresses.
The platinum-plated bracelets will initially be made by third-party manufacturers, with more production eventually moving to Pandora’s factories in Thailand and Vietnam.
