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
CollectionsJul 17, 2025
2026 Winter Olympic Medal Design Symbolizes UnityThe medals feature a split-texture design highlighting the Games’ first time being hosted by two cities and the athletes’ journeys.
Supplier BulletinJul 17, 2025
The INSTORE Jewelry Show 2025: Your Holiday Preparations, All Wrapped Up! Sponsored by The INSTORE Jewelry Show 2025
SurveysJul 17, 2025
The Most Recommended Brands in the World, According to YouGovGlobally, travel and transportation brands reigned, while in the U.S., alcoholic beverage companies and a lingerie brand took the top spots.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
IndependentsJul 17, 2025
Gina Ferranti of GiGi Ferranti Jewelry Dies at 59The Brooklyn-based jewelry designer is remembered as a true artist and a rare talent.
Weekly QuizJul 17, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJul 17, 2025
Rio Tinto Names New CEO, Production Rises at DiavikProduction at the mine in Canada’s Northwest Territories topped 1 million carats in Q2, the third consecutive quarter of growth.
Events & AwardsJul 17, 2025
JA to Hold Learning Workshops This FallA new slate of Learning Workshops will take place in Oklahoma, Mississippi, and Georgia.
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
SurveysJul 16, 2025
Signet Jewelers Falls Lower on NRF’s ‘Top 100’ Retailers ListThe middle class is changing its approach to buying jewelry and affordable luxury goods, the NRF said.
WatchesJul 16, 2025
The Top-Selling Rolex Models of the Last 15 Years, According to Bob’s Watches The reseller’s market trends report, based on its sales data, also shows exactly how much Rolex prices have jumped since 2010.
AuctionsJul 16, 2025
Christie’s To Honor Dinh Van With ExhibitionThe auction house will be hosting a retrospective paying tribute to jeweler Jean Dinh Van and his company’s 60th anniversary.
IndependentsJul 16, 2025
Clyde Duneier Ushers In Fourth GenerationJake Duneier and Danielle Duneier-Goldberg have stepped into the roles of CEO and president, respectively.
CollectionsJul 15, 2025
Boucheron’s New High Jewelry Calls Attention to Nature’s ImpermanenceThe “Impermanence” collection contemplates nature through the Japanese art of Ikebana (flower arranging) and philosophy of wabi-sabi.
MajorsJul 15, 2025
James Avery Expands to 2 More StatesThe Texas-based jewelry retailer has set up shop in Tennessee and Arizona.
Events & AwardsJul 15, 2025
Neiman Marcus Vet Joins Couture as Brand Director Eric Ford will step into the role, bringing with him decades of experience.
MajorsJul 15, 2025
Ben Bridge Jeweler Acquires Olympic ManufacturingIn addition to improved capabilities, the acquisition will allow the jeweler to offer support to other independent jewelers.
CollectionsJul 15, 2025
Guzema Debuts First Colored Gemstone JewelryThe “Celestial Blue” capsule collection campaign features Olympian Kateryna Sadurska.
MajorsJul 14, 2025
Nanis Opens First StoreThe seasonal store, located in Mykonos, Greece, offers exclusive events, personal styling, and curated experiences.
IndependentsJul 14, 2025
It’s the Summer of Love at Long’s JewelersThe New England jeweler is hosting a bridal event for the month of August.
SourcingJul 14, 2025
Ethical Gem Fair Heads to SeattleThe trade-only event will host its debut fair in the Emerald City later this month.
Events & AwardsJul 11, 2025
The Edge’s Annual Conference Returns in SeptemberIts sessions will focus on inventory strategies, staff performance, retention and acquisition, emerging market trends, and more.
CollectionsJul 11, 2025
Piece of the Week: Miseno’s ‘Arco’ EarringsFor its 10th anniversary, Miseno designed the “Arco” earrings based on the Arco Felice, an arch conceptualized in A.D. 95 in Miseno, Italy.
Policies & IssuesJul 11, 2025
James Avery to Donate $1M to Texas Hill Country Relief EffortsThe jewelry company is one of several contributing to relief efforts in the region after the recent floods.
TrendsJul 11, 2025
Kelly Osbourne’s Engagement Ring Is Sweet as HoneyInspired by fiancé Sid Wilson’s nickname for her, the white and yellow diamond ring features a unique honeycomb design.
CollectionsJul 10, 2025
Penny Preville Celebrates 5 Decades of Jewelry DesignThe brand is marking its 50th anniversary with a limited-edition bangle, high jewelry suites, new collections, and more.
IndependentsJul 10, 2025
Steven Goldfarb to Retire, Close Alvin Goldfarb JewelerGoldfarb said changes in the industry, coupled with his age and the updates needed to modernize his business, drove his decision.
MajorsJul 10, 2025
LVMH Names New Chairman, CEO of the AmericasLongtime LVMH executive Michael Burke has stepped into the role.
