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Fortune
Fortune
Orianna Rosa Royle

Gen Z and millennials only buy lab-grown diamonds for design and affordability, says Pandora's CEO, and he'll be 'dead' before they shop for sustainability

Photo of Selena Gomez (Credit: Courtesy of Pandora/ Backgrid)
  • Lab-grown diamonds have grown in popularity among Gen Z and millennial consumers. Some say it's because they're more "sustainable" but Pandora's CEO told Fortune the gem size, design, and price are the real reasons these stones are all the rage

More than 75 years ago mining giant De Beers began promising enamored young couples that “a diamond is forever.” Since then the market has grown into a $96 billion behemoth—but it turns out the buyers of today are more bothered about price tags than provenance.

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