Pandora Is Rethinking Silver And Your Bracelets May Change

Pandora, the world’s largest jewelry brand by volume, is changing how some of its most popular products are made as it responds to sharp swings in silver prices and slowing consumer demand.

The Danish company announced it will begin replacing sterling silver in certain best-selling items, including charm bracelets, with a proprietary alloy base coated in platinum. The move is aimed at reducing the company’s reliance on silver, whose price surged to record highs over the past year before falling sharply.

Although platinum is significantly more expensive per ounce than silver, Pandora says it will use much smaller quantities, making the overall production cost lower and more stable. Executives stressed that the jewelry’s appearance and quality will remain unchanged for consumers, even as the underlying materials shift.

The strategy reflects broader pressure on the jewelry industry, where rising costs and cautious consumer spending have limited companies’ ability to raise prices.

Pandora reported modest revenue growth in the most recent quarter and warned that sales growth in 2026 could remain flat or even decline slightly, particularly in the U.S., its largest market.

The company described 2026 as a “transition year” and said it plans to convert at least half of its relevant silver assortment to platinum-plated designs by 2027, ultimately reducing silver jewelry to about a quarter of its overall offering.

Pandora also announced leadership changes in its design team as it seeks to refresh its product lineup and attract new customers while navigating a volatile commodities market.