Pandora's Shift from Silver to Platinum Amid Price Surge

Sat Feb 07 2026 00:45:54 GMT+0200 (Eastern European Standard Time)

Pandora plans to reduce its silver offerings and introduce platinum-plated jewellery as silver prices soar, adapting to market changes while maintaining brand integrity.

In response to the doubling price of silver over the past year, Pandora, the renowned jewellery brand, is transitioning from silver to platinum-plating for part of its line-up. The decision, aimed at diversifying its materials and reducing commodity sensitivity, is part of a broader strategy to enhance durability and appeal to consumers. This shift is expected to be completed by 2028, with initial offerings arriving in 2026.

Jeweller Pandora has announced plans to transition from using silver to platinum-plating in select collections following a significant surge in silver prices. The price of silver has more than doubled over the past year, prompting the company's leadership to explore alternatives.

Pandora's chief executive stated that the company's objective is not to eliminate silver entirely, but to reduce its presence to about 25% in its ranges, aiming to shield itself from the recent volatility in metal prices.

The Danish firm, recognized as one of the largest jewellery retailers globally, currently relies predominantly on silver for its products. Although platinum generally carries a higher cost than silver, Pandora asserts that they will be utilizing an alloy to make its use more economical.

Plans are underway to roll out the new platinum-plated jewellery range in 2026, followed by a broader release as the company intends to decrease its dependence on silver over the coming years. In the immediate term, third-party sources will assist in plating the jewellery before Pandora moves production to its facilities in Thailand and Vietnam.

The company aims to complete this transition by 2028. In addition to financial considerations, Pandora noted that platinum's properties would offer improved durability for everyday wear compared to silver, and initial consumer feedback has been positive regarding the change.

Chief executive Berta de Pablos-Barbier expressed her frustration at Pandora being perceived solely as a silver trading entity and is determined for the brand to diversify its material usage.

The increase in silver prices, which saw a peak earlier in the year before slightly receding, has raised concerns about its impact on Pandora's profit margins.

As investors turn to precious metals amid economic uncertainties, Danni Hewson, head of financial analysis at AJ Bell, highlighted the connection between silver demand and global economic health, further complicating future price forecasts for the metal.