Pandora to switch from silver to platinum over price surge

Pandora, a leading jewelry brand, has announced its decision to switch from using silver to platinum in its jewelry designs. This move comes as a response to the significant price surge in the cost of silver. The company cites its desire to reduce its exposure to the fluctuations in the silver market as the primary reason for this change. Platinum, a more expensive precious metal, is expected to provide a more stable and predictable material cost for Pandora's production. The transition will be gradual, with Pandora aiming to phase out silver and fully adopt platinum over time. This strategic decision is part of the company's efforts to adapt to the changing market dynamics and ensure the long-term sustainability of its business. The shift to platinum is likely to impact Pandora's pricing and product offerings, as the increased material cost may be reflected in the final retail prices. However, the company hopes that the stability and perceived value of platinum will offset any potential challenges.