Financials

Pandora’s Lab-Grown Diamond Line Coming to the US

FinancialsNov 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.

20211103_Pandora Brilliance.jpg
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 … 

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.

The Latest

Saks on Amazon flagship window
MajorsMay 16, 2025
Saks Fifth Avenue, Amazon Partner on Luxury Online Storefront

Plus, parent company Saks Global announces plans to cut ties with up to 600 vendors.

Graphic for My Next Question webinar with guest Peter Smith
Recorded WebinarsMay 16, 2025
Watch: Physical Retail Is Not Dead

Peter Smith joined Michelle Graff to chat about the state of brick-and-mortar stores and share a few book and podcast recommendations.

Tejen Candy Bowl Torque Necklace
CollectionsMay 16, 2025
Piece of the Week: Tejen’s ‘Candy Bowl’ Torque Necklace

The necklace features a candy-colored Australian white opal in 18-karat Fairmined gold, as the brand was named a Fairmined ambassador.

antique_Vegas_2024_by_headshot_stories_9454.jpg
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the Globe

Gain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.

1 Camilla Dietz Bergeron.jpg
Supplier BulletinMay 15, 2025
Treasure Hunting at the Las Vegas Antique Jewelry and Watch Show

Sponsored by the Las Vegas Antique Jewelry and Watch Show

Weekly QuizMay 15, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
The Mediterranean Blue diamond
AuctionsMay 15, 2025
'The Mediterranean Blue' Diamond Sells for $21M at Sotheby’s

A private American collector purchased the 10-carat fancy vivid blue diamond.

Jessica McCormack Fruit Salad Campaign Imagery
CollectionsMay 15, 2025
Jessica McCormack’s ‘Fruit Salad’ Collection Is Fresh for Summer

The designer has taken the appeal of freshly picked fruit and channeled it into a capsule collection of earrings, necklaces, and pendants.

Supplier Spotlight -Recorded-Webinar.png
Brought to you by
Watch: The Winston Red: GIA Examines the Smithsonian’s Newest Addition

Supplier Spotlight Sponsored by GIA

Stock image of diamonds
SourcingMay 15, 2025
Tariffs Take Toll on India’s Gem and Jewelry Industry in April

The country’s gem and jewelry exports fell 5 percent year-over-year last month, while imports declined 18 percent.

Disability advocate Catarina Rivera, JVC ADA compliance guide, circle of hands wearing jewelry
Policies & IssuesMay 15, 2025
State of Retail: How to Better Serve Customers With Disabilities

Around 54 million Americans and counting live with a disability. Here’s how to make your jewelry store and website more accessible.

Sekou Andrews
Events & AwardsMay 15, 2025
Poet Sekou Andrews to Give Closing Keynote at Converge

The event is also accepting poster submissions now through June 16.

Pope Francis
Policies & IssuesMay 14, 2025
Here’s What Happened to Pope Francis’ Ring

Before Pope Leo XIV was elected, a centuries-old procedure regarding the late pontiff’s ring was followed.

1998 Cosmograph Daytona, Ref.16516 Rolex
AuctionsMay 14, 2025
Custom Rolex Pulled From Sotheby’s Sale

The one-of-a-kind platinum Rolex Cosmograph Daytona was estimated to fetch up to $1.7 million.

Jeweler Constance Polamalu at Bloomstone, a store that specializes in lab-grown diamonds
Lab-GrownMay 14, 2025
State of Diamonds: What’s Next for Lab-Grown Diamonds?

While the product has entrenched itself in the market, retailers and consultants are assessing the next phase of the category’s development.

Surveillance footage Tiffany & Co. Seattle robbery
CrimeMay 14, 2025
Seattle Detectives Seek Public’s Help in Tiffany & Co. Robberies

The police are trying to identify the man suspected of robbing two Tiffany & Co. locations in the area.

Jeff Corey, new chairperson of the board for the Jewelers Board of Trade
MajorsMay 14, 2025
Jeff Corey Elected Chair of JBT Board

The well-known Maine jeweler takes over for Brian Fleming and will serve a one-year term.

Foundrae Ingot Pendant
Policies & IssuesMay 14, 2025
Foundrae Donates $11K to Ethical Metalsmiths

The donation was the result of the brand’s annual Earth Day Ingot event.

Eiseman Jewels ribbon cutting ceremony
IndependentsMay 13, 2025
Eiseman Jewels’ Renovated Dallas Store Is Bigger and Better

Located in NorthPark Center, the revamped store is nearly 2,000 square feet larger and includes the first Tudor boutique in Dallas.

Diamond Council of America
MajorsMay 13, 2025
DCA Announces New Learning Platform, Course Updates

The nonprofit has made updates to the content in its beginner and advanced jewelry sales courses.

Malyia McNaughton and Elyssa Jenkins-Pérez
MajorsMay 13, 2025
BIJC Launches New Education Fund

BIJC President Malyia McNaughton will shift roles to lead the new foundation, and Elyssa Jenkins-Pérez will succeed her as president.

Harwell Godfrey Snake Giza Ring, Foundrae Mind, Body Soul Story Necklace, Tiffany & Co. Tiffany Titan By Pharrell Williams Bracelet
TrendsMay 13, 2025
State of Jewelry Design: The Top 10 Jewelry Trends of the Past Decade

As a nod to the theme of JCK Las Vegas 2025, “Decades,” National Jeweler took a look back at the top 10 jewelry trends of the past 10 years.

Lightbox’s Reminiscence Poet earrings in 14-karat white gold with lab-grown diamonds
Lab-GrownMay 12, 2025
Lightbox to Go Dark by Summer, De Beers Says

The company plans to halt all consumer-facing activity this summer, while Lightbox factory operations will cease by the end of the year.

Stock image of shipping containers
Policies & IssuesMay 12, 2025
Tariffs on Chinese Imports Temporarily Slashed as U.S.-China Reach Deal

Following weekend negotiations, the tax on Chinese goods imported into the United States will drop by 115 percent for the next 90 days.

Artists’ Jewelry: From Cubism to Pop, the Diane Venet Collection
Events & AwardsMay 12, 2025
Jewelry By Picasso, Dalí on Display at Florida Art Museum

“Artists’ Jewelry: From Cubism to Pop, the Diane Venet Collection” is on view at the Norton Museum of Art through October.

2025 CASE Award Submission Graphic
Events & AwardsMay 12, 2025
CASE Awards Now Accepting Entries For 2025

The deadline to submit is June 16.

Lugano Diamonds store in Greenwich, Connecticut
IndependentsMay 09, 2025
Lugano Diamonds CEO Resigns Amid Internal Investigation

Moti Ferder stepped down Wednesday and will not receive any severance pay, parent company Compass Diversified said.

Coeur Percé Scapular Necklace and Love Baby Locket
CollectionsMay 09, 2025
Pieces of the Week: Marie Lichtenberg’s Collaborations for Mother’s Day

Lichtenberg partnered with luxury platform Mytheresa on two designs honoring the connection between mothers and daughters.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy