EditorsOct 13, 2021
What’s Next for PandoraFinancialsNov 03, 2021
Pandora’s Lab-Grown Diamond Line Coming to the US
The announcement coincided with the release of Pandora’s third-quarter results, with the brand posting strong growth in the U.S.
The “Pandora Brilliance” lab-grown diamond line will roll out in the United States and other key markets in 2022. Pandora announced the expansion during the release of its third quarter results.
Copenhagen, Denmark—Pandora posted strong third-quarter revenue growth as U.S. sales stayed strong, and once again upped its financial guidance for the year ahead.
The company also announced plans to begin the worldwide roll out of its lab-grown diamond line, “Pandora Brilliance,” in 2022 after a successful test run in the U.K.
The line includes rings, bangles, necklaces and earrings, each featuring a lab-grown diamond hand-set in sterling silver or 14-karat yellow or white gold. The collection’s motif is a take on the infinity symbol.
The Danish jewelry company’s third quarter revenue rose 16 percent to 4.73 billion Danish kroner ($736.2 million), compared with 4.07 billion Danish kroner ($633.7 million) in the third quarter last year.
It reported organic growth of 14 percent compared with 2020, while its sell-out growth (sales in Pandora-owned and -operated stores) of 5 percent year-over-year fell short of analyst expectations of 14 percent.
For the first nine months of the fiscal year, Pandora’s revenue is up 29 percent year-over-year.
“We are very pleased with the strong sell-out growth in the third quarter. [The] U.S., our largest market, continued the outstanding performance, yet again ahead of market growth,” said CEO Alexander Lacik in a press release about the results.
By sales channel, Pandora-owned retail stores, including the online store, brought in 3.09 billion Danish kroner ($482 million) in the third quarter, up 11 percent from the previous year.
During the third quarter 2021, around 5 percent of Pandora’s physical stores were temporarily closed due to COVID-19 restrictions. In the U.S, 1 percent of stores were closed in the quarter.
The company operated 2,616 concept stores as of the third quarter, 14 fewer when compared with the third quarter 2020.
It plans to close 50 of these stores, at the high end of its prior guidance of 25 to 50 closures.
Related stories will be right here …
The company also announced plans to begin the worldwide roll out of its lab-grown diamond line, “Pandora Brilliance,” in 2022 after a successful test run in the U.K.
The line includes rings, bangles, necklaces and earrings, each featuring a lab-grown diamond hand-set in sterling silver or 14-karat yellow or white gold. The collection’s motif is a take on the infinity symbol.
The Danish jewelry company’s third quarter revenue rose 16 percent to 4.73 billion Danish kroner ($736.2 million), compared with 4.07 billion Danish kroner ($633.7 million) in the third quarter last year.
It reported organic growth of 14 percent compared with 2020, while its sell-out growth (sales in Pandora-owned and -operated stores) of 5 percent year-over-year fell short of analyst expectations of 14 percent.
For the first nine months of the fiscal year, Pandora’s revenue is up 29 percent year-over-year.
“We are very pleased with the strong sell-out growth in the third quarter. [The] U.S., our largest market, continued the outstanding performance, yet again ahead of market growth,” said CEO Alexander Lacik in a press release about the results.
By sales channel, Pandora-owned retail stores, including the online store, brought in 3.09 billion Danish kroner ($482 million) in the third quarter, up 11 percent from the previous year.
During the third quarter 2021, around 5 percent of Pandora’s physical stores were temporarily closed due to COVID-19 restrictions. In the U.S, 1 percent of stores were closed in the quarter.
The company operated 2,616 concept stores as of the third quarter, 14 fewer when compared with the third quarter 2020.
It plans to close 50 of these stores, at the high end of its prior guidance of 25 to 50 closures.
Wholesale sales in the third quarter were up 30 percent to 1.45 billion Danish kroner ($225.9 million).
Online sales in the quarter were up 2 percent compared with 2020, and up 94 percent when compared to pre-pandemic 2019.
Pandora’s “click-and-collect” program—its buy online, pickup in store service—accounted for 15 percent of U.S. online sales.
The service rolled out to France, Italy, Germany and Australia in the third quarter.
In the U.S, Pandora’s largest market, sell-out growth was strong in the third quarter, up 29 percent compared with 2020 and up 59 percent compared with 2019. Pandora attributed the growth partly to a boost from the stimulus packages.
The company has cut down on its promotional activity, noting that 98 percent of revenue in the region came from full-price sales.
Sales in Asia-Pacific continued to struggle amid COVID-19 restrictions while key European markets rebounded, including the U.K., Italy, and Germany, as stores began to reopen.
Looking ahead, Pandora upped its financial guidance for the fiscal year again.
It expects organic revenue growth to range between 18 to 20 percent, topping its previous estimate of 16 to 18 percent growth.
Guidance for EBIT margin rose to 24-24.5 percent from 23-24 percent.
The updated guidance is dependent upon there being “no other material COVID-19 restrictions implemented,” said Pandora in its presentation.
The new guidance also presumes that COVID-19 will not have a major negative impact on its production and supply chain.
Forecasting an uptick in demand for its jewelry, the company is building up its manufacturing capabilities, planning to build a new facility in Vietnam, and will expand the production capacity of its two facilities in Thailand.
The company plans to expand its manufacturing capacity by around 60 percent, or 80 million pieces of jewelry annually.
Editor's Note: A previous headline for this story said "Pandora Brilliance" would launch in the U.S. in 2022. The rollout will begin in 2022, with launch dates for individual countries to be announced later.
More on Financials
The Latest
CollectionsJun 29, 2026
Briony Raymond’s New Collection Is a ‘Carousel’ of Hard StonesThe new jewelry collection uses a colorful palette of onyx, malachite, tiger’s eye, mother-of-pearl, lapis, turquoise, and coral.
IndependentsJun 29, 2026
Look Inside Lee Michaels’ Revamped Mississippi FlagshipLee Michaels Fine Jewelry is celebrating 30 years in the Ridgeland, Mississippi community.
GradingJun 29, 2026
National Rarities Announces New Gemology ManagerSean Milliner has joined the company.
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.
GradingJun 29, 2026
GIA to Open New London CampusClasses will begin in August at GIA’s new Canary Wharf location.
Weekly QuizJun 25, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsJun 26, 2026
‘Hogback’ Diamond Ring Finds a New Home A ring set with “hogback” diamonds, an early stone cut dating to around the 16th century, sold for more than $20,000 at a U.K. auction.
CollectionsJun 26, 2026
Strength Is Sharpened Into Beauty in Kris Averi’s ‘Prism Thorn’ RingThe rainbow version of the ring, our Piece of the Week, features angel-cut, octahedral lab-grown sapphires designed to be worn as armor.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
MajorsJun 26, 2026
Rembrandt Charms Debuts ‘Charms That Give Back’The new initiative donates a portion of the proceeds from select charms to charitable causes.
TrendsJun 26, 2026
Bernard James Celebrates Knicks’ Win with RingThe Brooklyn-based jeweler created a limited-edition version of its “Aura” eternity band, set with gemstones in the team’s colors.
SourcingJun 25, 2026
ICA Names Brandee Dallow as CEODallow will lead the International Colored Gemstone Association, effective July 6.
EditorsJun 25, 2026
Out & About: How Jewelers Mutual, SCAD Are Tackling the Bench Jeweler ShortageSenior Editor Lenore Fedow headed to Savannah to learn more about the 10-year, $10 million partnership between JM and the art school.
CollectionsJun 25, 2026
Mejuri Experiments With SteelIts new capsule jewelry collection features gold-finished stainless steel pieces designed for a maximalist look without a luxury price tag.
Events & AwardsJun 25, 2026
Watches & Wonders Announces 2027 DatesThe week-long event in Geneva is slated for April 2027.
SourcingJun 25, 2026
Annie Doresca, Mark Smelzer, Sara Yood Join Gem Legacy BoardThe three industry leaders bring financial, communications, and legal expertise to the nonprofit’s board of directors.
ColumnistsJun 24, 2026
The Revenue Hiding Between Your Counter and Your Online CartJewelers are missing out by not offering this one key add-on at the online point of sale, Emmanuel Raheb writes.
CollectionsJun 24, 2026
Greenwich St. Jewelers, Jewel Boxing’s Latest Drop Is On-TrendThe fourth collaborative collection from the retailer and jewelry content creator focuses on gemstone charms and strands of colorful beads.
Events & AwardsJun 24, 2026
AGTA Accepting Entries for Spectrum 2026This year’s AGTA Spectrum & Cutting Edge Awards will feature two new categories.
SourcingJun 24, 2026
Columbia Gem House To Offer Alexandrite Melee OnlineThe collection features traceable alexandrite from Brazil in calibrated sizes that is sorted by grade.
MajorsJun 24, 2026
CaratLane Names New Chief Sales OfficerDhaval Raja has been appointed to the role.
CollectionsJun 23, 2026
Francesca Villa Goes ‘On the Road’The capsule collection looks to vintage trunk pins that echo the spirit of speed, freedom, and the mythology of the American road trip.
SourcingJun 23, 2026
New Paraíba Tourmaline Source Reportedly Discovered in EthiopiaSSEF issued a notice about the potential new source of the sought-after gemstone, citing “credible reports” from trade sources.
MajorsJun 23, 2026
Etsy Says ‘Shop Other Jeffs’ This Prime DayAs Amazon Prime Day kicks off, Etsy is encouraging shoppers to support small businesses.
Events & AwardsJun 23, 2026
AGA Announces 2026 Scholarship WinnerCole Winward is the recipient of 2026 AGA Gemological Scholarship.
EditorsJun 22, 2026
15 Pieces of Jewelry That Brought Us Joy in Vegas Whether they evoked nostalgia, wonder, or laughter, these jewels put a smile on our faces.
Events & AwardsJun 22, 2026
Plans Announced for New Trade Show in BaselScheduled for April 2027, Basilia will be the first watch and jewelry trade show held in Basel since the collapse of Baselworld in 2020.
Events & AwardsJun 22, 2026
Gem Awards Opens 2027 Nomination PeriodSubmissions for the milestone 25th annual Gem Awards will be accepted across three categories from now through July 31.
