MajorsJun 30, 2021
Former Tiffany Exec to Lead Pandora’s North American DivisionFinancialsAug 17, 2021
Pandora Posts Strong Q2 as US Sales Surge
Plus, the company shares how its lab-grown diamond line, “Pandora Brilliance,” performed.
Pandora saw revenue climb 79 percent in the second quarter, bolstered by strong U.S. sales.
Copenhagen, Denmark—Pandora posted strong second-quarter revenue due in part to strong U.S. sales, upping its financial guidance for the year ahead.
The Danish jewelry company’s second quarter revenue rose 79 percent to 5.16 billion Danish kroner ($815.7 million), compared with 2.88 billion Danish kroner ($455.1 million) in the second quarter last year.
“Our strong momentum continued in the second quarter of 2021, and we are pleased that we delivered solid growth compared to 2019,” said CEO Alexander Lacik in a press release about the results.
“Performance in the U.S. and online continued to be strong, and in Europe most of our stores have now reopened.”
The company is continuing to test its lab-grown diamond line, “Pandora Brilliance,” in the U.K. and will make a decision on a global launch in late 2021.
The collection generated 18 million Danish Kroner ($2.85 million) in the second quarter, accounting for 3 percent of U.K. revenue.
By sales channel, Pandora-owned retail stores, including the online store, brought in 3.39 billion Danish kroner ($537.9 million) in the second quarter, up 37 percent from the previous year.
Related stories will be right here …
The Danish jewelry company’s second quarter revenue rose 79 percent to 5.16 billion Danish kroner ($815.7 million), compared with 2.88 billion Danish kroner ($455.1 million) in the second quarter last year.
“Our strong momentum continued in the second quarter of 2021, and we are pleased that we delivered solid growth compared to 2019,” said CEO Alexander Lacik in a press release about the results.
“Performance in the U.S. and online continued to be strong, and in Europe most of our stores have now reopened.”
The company is continuing to test its lab-grown diamond line, “Pandora Brilliance,” in the U.K. and will make a decision on a global launch in late 2021.
The collection generated 18 million Danish Kroner ($2.85 million) in the second quarter, accounting for 3 percent of U.K. revenue.
By sales channel, Pandora-owned retail stores, including the online store, brought in 3.39 billion Danish kroner ($537.9 million) in the second quarter, up 37 percent from the previous year.
During the second quarter 2021, around 15 percent of Pandora’s physical stores were temporarily closed due to COVID-19 restrictions. In the U.S., that number was about 6 percent.
The company operated 2,630 concept stores as of the second quarter, 84 fewer when compared with the second quarter 2020.
Wholesale sales in the second quarter were nearly five times higher than the previous year, up 375 percent to 1.59 billion Danish kroner ($253 million).
Online sales in the quarter slipped 16 percent compared with 2020, but nearly tripled when compared to pre-pandemic 2019, up 179 percent year-over-year.
Pandora’s “click-and-collect” program—its buy online, pickup in store service—gained traction in the U.S., accounting for 13 percent of U.S. online sales.
Pandora has invested in driving online traffic, including email marketing and trying out new platforms in the U.S. like TikTok and Twitch, a live-streaming video service usually reserved for video games.
Around one-third of all Google searches for branded jewelry is for Pandora, said the company.
In the U.S., Pandora’s largest market accounting for 34 percent of total revenue, sales were strong in the second quarter, boosted by the stimulus packages.
The U.S. posted organic growth of 179 percent, with revenue totaling 1.77 billion Danish kroner ($280.2 million).
Looking ahead, Pandora once again upped its financial guidance for the fiscal year.
It expects organic revenue growth to range between 16 and 18 percent, topping its previous estimate of more than 12 percent growth.
Guidance for EBIT margin rose to 23-24 percent from above 22 percent.
The updated guidance is dependent upon only 5 percent of stores being temporarily closed during the second half of 2021, compared with prior guidance of 5-10 percent.
Currently, about 8 percent of Pandora’s stores are temporarily closed or “severely impacted” due to COVID-19.
The new guidance also presumes that COVID-19 will not have a major negative impact on its production and supply chain.
Pandora has completed its two-year “Programme Now” turnaround plan, which aimed to stabilize its topline, increase brand relevance and access, and reduce costs.
It is in the middle of a new strategy, dubbed “Phoenix,” that is focused on sustainable growth. Details of the plan will be shared during its Capital Markets Day in September.
More on Financials
The Latest
TechnologyAug 10, 2026
Colorado Jeweler Launches Customization Tool He Built HimselfHonest Hands Ring Co. Founder Benjamin Bosworth shared his thoughts on jewelry technology and why AI can never replace the human element.
MajorsAug 10, 2026
QVC Exits Chapter 11 Bankruptcy, Names New Interim CEOQVC Group President and CEO David Rawlinson is temporarily being replaced by a familiar face, former QVC CEO Mike George.
CollectionsAug 10, 2026
State Property Puts a Ripple in the ‘The Voyager’ CollectionThe brand also added two one-of-a-kind brown diamond pieces to the “Sanssouci” series of its “Gardens” collection.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
MajorsAug 10, 2026
And IJO’s 2026 Vendor of the Year Is … Ostbye took home top vendor honors at the Independent Jewelers Organization’s show, held last month in Kentucky.
Weekly QuizAug 07, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Supplier BulletinAug 07, 2026
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsSponsored by Stratus Estate Buyers
MajorsAug 07, 2026
Retail Veteran Pam Cloud Appointed President of Blue NileCloud, who will officially join Blue Nile on Monday, spent 26 years at Tiffany & Co. and founded jewelry brand Roseate.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
MajorsAug 07, 2026
Pandora Appoints Paulo Garcia as New CFO Garcia will take over from the company’s current CFO, Anders Boyer, who is retiring at the end of November.
MajorsAug 07, 2026
Etsy to Lay Off 12% of WorkforceEtsy CEO Kruti Patel Goyal explained why the company is letting go more than 200 employees as its performance improves.
TrendsAug 07, 2026
Look Ahead with Syna’s Binoculars PendantThe “Star Gazer” pendant, our Piece of the Week, is Syna’s tribute to curiosity and the discovery of something new.
CrimeAug 06, 2026
Lalique Museum to Remain Closed Following $5M HeistMuseum officials are looking to the public to help cover the “exceptional” costs involved in recovering from the July 5 smash-and-grab.
MajorsAug 06, 2026
Claire’s Revamps Piercing Services for Second Time in Three Years The overhaul includes enhanced employee safety training and trendy earring styles, including lab-grown diamond studs.
TrendsAug 06, 2026
New Book on Handcrafted American Objects Highlights Jewelry“Handwork: Handcrafted Objects that Made America” features historic and contemporary works, including a Diné squash blossom necklace.
MajorsAug 06, 2026
AJA East Coast Names Ani Khachian as First Female President-ElectThe Armenian Jewelers Association’s East Coast chapter has also elected its 2026–2027 board of directors.
MajorsAug 05, 2026
Private Equity Firm Wants to Buy 100+ JCPenney StoresOnyx Partners has submitted a second offer to buy the department stores after its first offer fell through last year.
IndependentsAug 05, 2026
Atlanta Jeweler Introduces $10K MartiniSolomon Brothers Jewelers has partnered with local cocktail bar Roaring Social on a new martini garnished with a tennis necklace.
IndependentsAug 05, 2026
Another Member of the Siegel Family Joins Hamilton Jewelers Benjamin Siegel, son of President and CEO Hank Siegel, started working for the family business this week.
MajorsAug 05, 2026
Bulgari Opens Store in San DiegoThe new space features a modern design that blends Bulgari’s Roman heritage with San Diego’s coastal spirit.
CrimeAug 04, 2026
Crew of Thieves Break Into Indiana Jeweler’s HomeFour men were charged in connection with the break-in and accused of stealing $365,000 in cash, jewelry, and designer goods.
MajorsAug 04, 2026
Pandora Hires Former Signet Board Member to Lead North American MarketAndré Branch has more than 25 years of experience with various brands, most recently serving as CEO of Ariana Grande’s cosmetics company.
MajorsAug 04, 2026
Sasha Primak Acquires GemlokNew York-based atelier Gemlok is best known for creating the innovative “bridge” setting that became popular in the bridal market.
CollectionsAug 04, 2026
Musician Carlos Santana Launches Jewelry BrandSantana Now's debut collection, “Unidad,” features symbolic motifs as well as pieces of wood from the Woodstock stage.
CrimeAug 03, 2026
Florida Man Gets 15 Years in Trio of Jewelry Store RobberiesThe 50-year-old man pleaded guilty earlier this year to robbing two jewelry stores and a pawn shop of more than $700,000 in merchandise.
WatchesAug 03, 2026
Citizen's New Spider-Man Watch Is a Collector’s DreamThe watch’s dial features an original design by Marvel comics illustrator Adam Kubert.
Lab-GrownAug 03, 2026
Chatham Releases First Men’s CollectionThe new collection of lab-grown diamond and colored gemstone jewelry provides a “fresh perspective” on the category, Chatham said.
TrendsAug 03, 2026
Amanda’s Style File: Spinel vs. Peridot While some August babies are team peridot, the month's time-honored birthstone, others are team spinel, the newer alternative.
