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.
Editors' Picks
Sponsored by
More on Financials
The Latest
AuctionsMay 15, 2026
American Collector Ponies Up Almost $17K for John Wayne’s RingThe Western star’s 14-karat gold signet ring sold for six times its low estimate following a bidding war at U.K. auction house Elmwood’s.
Events & AwardsMay 15, 2026
JA, MJSA To Sponsor Roundtable at TJSThe discussion, "Rebuilding the Jewelry Workforce," will take place on Saturday, May 16, in Troy, Michigan.
SourcingMay 15, 2026
State of Diamonds: The Way Forward for Natural DiamondsThe jewelry industry is reassessing its positioning as Gen Z reshapes the retail landscape and lab grown continues to gain market share.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
AuctionsMay 14, 2026
White Diamonds Lead Sotheby’s Auction, Blue Diamond Does Not SellA matching pair of 18.38-carat, D-color diamonds from Botswana’s Jwaneng mine sold for $3.3 million, the top lot of the jewelry auction.
Weekly QuizMay 14, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Supplier BulletinMay 14, 2026
A Diamond Is Forever Continues Desert Diamonds – Bridal ReinvigoratedSponsored by A Diamond Is Forever
SourcingMay 14, 2026
State of Colored Stones: The Spirit of Young American Gemstone CuttersThe next generation of lapidarists are entrepreneurial, engaged online, and see the craft as a means for artistic expression.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
AuctionsMay 14, 2026
‘Ocean Dream’ Makes Waves at Christie’s, Fetching $17MIt was the second auction appearance for the fancy vivid blue-green diamond, which sold for $7.8 million at Christie’s Geneva 12 years ago.
CrimeMay 14, 2026
Second Man Arrested in Florida Pawn Shop Shooting Members of the U.S. Marshals Task Force took a 22-year-old man into custody. He was charged with tampering with evidence.
CrimeMay 13, 2026
JSA’s 2025 Crime Report Shows ‘Concerning’ Rise in ViolenceWhile the overall number of crimes was down, there were more incidences in which robbers pulled out guns, mace, or rammed cars into stores.
IndependentsMay 13, 2026
New Orleans Jeweler Closing Canal Place StoreJack Sutton Fine Jewelry is closing its store inside the downtown shopping center after 40 years in business.
SourcingMay 13, 2026
Smithsonian Acquires ‘Winston Red’ Diamond PaintingReena Ahluwalia’s painting of the rare red diamond is the first contemporary painting to join the National Gem Collection.
TrendsMay 13, 2026
State of Design: Only the Innovative Will SurviveThe price of gold has risen, affecting the number of pieces designers make, the materials they use, and how they position themselves.
ColumnistsMay 12, 2026
It’s Official: We’re Getting ‘Brain Rot’ From Watching Short-Form Videos Peter Smith gives tips on leading meetings, developing marketing, and making trade show appointments in the age of short attention spans.
CollectionsMay 12, 2026
Jessica McCormack Debuts Antique Coin-Inspired Medallions for SummerThe 11-piece “Medallions” capsule collection features five motifs: a crying eye, a heart on fire, a spiral, a flower, and a swallow.
IndependentsMay 12, 2026
State of Retail: 6 Things Retailers Should Know About Consumers TodayFrom Gen Z’s view of luxury to “doom spending,” these are the six consumer trends to note this year.
Events & AwardsMay 12, 2026
The Tiffany & Co. x CFDA Jewelry Designer Award Is BackThe partners have announced the second cycle of the program, which has expanded to include a $25,000 student scholarship.
IndependentsMay 11, 2026
Kansas Jeweler Closing After 70 YearsThe owners of Staats Jewelers are heading into retirement.
TrendsMay 11, 2026
Former Macy’s CEO Joins Signet Jewelers BoardJeffrey Gennette, who retired in 2024 after 41 years with Macy’s, is the newest member of the jewelry retailer’s board of directors.
TrendsMay 11, 2026
Amanda’s Style File: Lucky May May babies are lucky to have emeralds, a gemstone admired for centuries, as their birthstone, writes Amanda Gizzi.
TechnologyMay 11, 2026
Clientbook’s New Tool Helps Jewelers Plan In-Store EventsThe new module allows retailers to plan, promote, and measure the success of events from a single dashboard.
Lab-GrownMay 08, 2026
NDC Publicly Criticizes Pandora Over ‘Misleading’ Natural Diamond ClaimsNDC said in an open letter that Pandora’s statements about the carbon footprint of lab grown versus natural diamonds are inaccurate.
SourcingMay 08, 2026
Ronnie VanderLinden Takes Over as WDC President The diamantaire and industry leader succeeds Feriel Zerouki and said he will focus on being a “champion” for natural diamonds.
TrendsMay 08, 2026
Rihanna Chooses ‘Desert Diamonds’ for 2026 Met GalaShe wore our Piece of the Week, Glenn Spiro’s “Old Moghul Golconda” earrings, featuring fancy brown-yellow diamonds totaling 51.90 carats.
Events & AwardsMay 08, 2026
JA Announces 2026 CASE Award WinnersTwo pieces were named “Best in Show,” one from the retail category and one from the supplier category.
AuctionsMay 07, 2026
‘Spectacular’ Kashmir Sapphire Headlines Heritage Spring Jewelry SaleLed by the 6.59-carat sapphire, the sale garnered $9.7 million, a record total for a Heritage jewelry auction.
