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
MajorsJan 09, 2026
Kendra Scott Taps Activewear Exec as CEO Chris Blakeslee has experience at Athleta and Alo Yoga. Kendra Scott will remain on board as executive chair and chief visionary officer.
SurveysJan 09, 2026
U.S. Holiday Retail Sales Up 4%, Visa, Mastercard SayThe credit card companies’ surveys examined where consumers shopped, what they bought, and what they valued this holiday season.
AuctionsJan 09, 2026
Christie’s Names New Global Managing Director for LuxuryKimberly Miller has been promoted to the role.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
CollectionsJan 09, 2026
Piece of the Week: Lionheart’s ‘Serenity’ Opal CharmThe “Serenity” charm set with 13 opals is a modern amulet offering protection, guidance, and intention, the brand said.
Weekly QuizJan 08, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJan 08, 2026
Pandora’s New ‘Bridgerton’ Jewels Celebrate Bees, Bows, and Blooms“Bridgerton” actresses Hannah Dodd and Claudia Jessie star in the brand’s “Rules to Love By” campaign.
Events & AwardsJan 08, 2026
Ana Khouri To Receive 2026 Gem Award for High Jewelry ExcellenceFounded by jeweler and sculptor Ana Khouri, the brand is “expanding the boundaries of what high jewelry can be.”
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
TrendsJan 08, 2026
Stuller’s Color of the Year Is a Stark Contrast to Pantone’s WhiteThe jewelry manufacturer and supplier is going with a fiery shade it says symbolizes power and transformation.
CollectionsJan 08, 2026
Gracie Abrams To Front New Chanel Jewelry CampaignThe singer-songwriter will make her debut as the French luxury brand’s new ambassador in a campaign for its “Coco Crush” jewelry line.
MajorsJan 08, 2026
Diamond Council of America Names New Board DirectorsThe nonprofit’s new president and CEO, Annie Doresca, also began her role this month.
ColumnistsJan 07, 2026
Peter Smith: Physical Retail—The Beginning or the End?As the shopping mall model evolves and online retail grows, Smith shares his predictions for the future of physical stores.
Events & AwardsJan 07, 2026
Melee Adds 13 New Designers to NYC ShowThe trade show is slated for Jan. 31-Feb. 2 at The Lighthouse in New York City's Chelsea neighborhood.
TrendsJan 07, 2026
Amanda’s Style File: Go for GarnetJanuary’s birthstone comes in a rainbow of colors, from the traditional red to orange, purple, and green.
SourcingJan 07, 2026
Diamonds Do Good Releases 2025 Impact ReportThe annual report highlights how it supported communities in areas where natural diamonds are mined, crafted, and sold.
CrimeJan 06, 2026
2 Jewelers Arrested After TraxNYC Diamond District BrawlFootage of a fight breaking out in the NYC Diamond District was viewed millions of times on Instagram and Facebook.
MajorsJan 06, 2026
Rio Grande Says These Are the Top Personalization Tools for 2026The supplier has a curated list of must-have tools for jewelers doing in-house custom work this year.
MajorsJan 06, 2026
Zales Tests Out A New LookThe Signet Jewelers-owned store, which turned 100 last year, calls its new concept stores “The Edit.”
MajorsJan 06, 2026
LeachGarner Appoints New Director of SalesLinda Coutu is rejoining the precious metals provider as its director of sales.
SourcingJan 06, 2026
AGA Announces 2026 BoardThe governing board welcomed two new members, Claire Scragg and Susan Eisen.
TrendsJan 05, 2026
Amanda’s Style File: New Year’s EditionSparkle with festive diamond jewelry as we celebrate the beginning of 2026.
IndependentsJan 05, 2026
Jeweler Ben Nighthorse Campbell Dies at 92The master jeweler, Olympian, former senator, and Korean War veteran founded the brand Nighthorse Jewelry.
TrendsJan 05, 2026
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
MajorsJan 02, 2026
Marc Metrick Out as CEO of Saks Global Executive Chairman Richard Baker will take over the role as rumors swirl that a bankruptcy filing is imminent for the troubled retailer.
Events & AwardsJan 02, 2026
Jan Mohr, Couture’s ‘North Star,’ Dies at 71Mohr had just retired in June after more than two decades as Couture’s retailer liaison.
SourcingJan 02, 2026
IDCA Elects New President, Board of DirectorsShekhar Shah of Real Gems Inc. will serve as president of the Indian Diamond & Colorstone Association in 2026.
CollectionsJan 02, 2026
Lalaounis’ 2026 Good Luck Charm Speaks to ResilienceThis year’s good luck charm features the mythical horse Pegasus, and is our first Piece of the Week of the new year.
