Pandora Posts Strong Q2 as US Sales Surge
Plus, the company shares how its lab-grown diamond line, “Pandora Brilliance,” performed.

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.
The Latest

It will quit assigning the stones specific color and clarity grades in favor of applying “new descriptive terminology.”

From design trends to sustainability, here’s a roundup of can’t-miss education sessions at JCK Las Vegas.

The Jewelers’ Security Alliance offers advice for those attending the annual trade shows.

When investing in your jewelry business, it's important not to overlook the most crucial element of success: the sales associates.

Her new role is director of strategic initiatives.


The entrepreneur and “Shark Tank” star will share his top tips for success.

The designer is embracing bold pieces with weight to them in “AU79,” a collection she celebrated with a creative launch party.

More shoppers are walking out without buying. Here’s how smart jewelers can bring them back—and the tool they need to do it right.

The index partially rebounded after months of decline, due in part to the U.S.-China deal to temporarily reduce import tariffs.

The actress stars in the latest campaign set in Venice, Italy, and is set to participate in other creative initiatives for the jeweler.

The company has joined other labs, including GIA and Lotus Gemology, in adopting the Chinese term for "jadeite jade."

The large stone will be offered at its June sale along with a selection of secondary-type rubies from a new area of the Montepuez mine.

Located in Bangkok, the laboratory is Gemological Science International’s 14th location worldwide.

Those born in June have a myriad of options for their birthstone jewelry.

The diamond industry veteran has been named its senior sales executive.

Between tariffs and the sky-high cost of gold, designers enter this year’s Las Vegas shows with a lot of questions and few answers.

Designed by founder Renato and his daughter Serena Cipullo, it showcases a flame motif representing unity and the power of gathering.

However, the tariffs remain in effect in the short term, as an appeals court has stayed the U.S. Court of International Trade’s decision.

The pop icon is one step closer to launching her “B Tiny” jewelry collection, a collection she first began posting about last fall.

Sponsored by Stuller

It was featured in the miner’s latest sale, which brought in $24.8 million.

GemText AI uses artificial intelligence to generate tailored product titles, descriptions, and tags with jewelry-specific language.

The 3,300-square foot location is the jeweler's largest store in North America.

Aging and with myriad health issues, none will serve time for their roles in robbing the billionaire celebrity at gunpoint in 2016.

The WNBA team received rings imbued with meaning, from leaf motifs and its Liberty torch to the number of diamonds used.

A longtime executive at RDI Diamonds, Rickard has served on the JBT board for the past five years.

The two organizations have signed an affiliation agreement that’s expected to be finalized in the coming weeks.