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
MajorsApr 02, 2026
Pandora Opens New Canadian Distribution Center Amid Tariff ConcernsThe new facility was also designed to better serve its growing customer base in Canada.
TrendsApr 02, 2026
Michelle Yeoh Fronts New Mikimoto Campaign The campaign is a tribute to the year 1893, when Kokichi Mikimoto created the world’s first cultured pearl.
GradingApr 02, 2026
GIA Debuts New Campus in TaiwanIt is the only GIA school to offer the GIA Graduate Gemologist program in Chinese.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
MajorsApr 02, 2026
DCA Launches ‘Second Spark’ Workforce InitiativeThe initiative connects veterans and parents returning to the workforce with careers in jewelry retail.
Weekly QuizMar 26, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsApr 02, 2026
Hoover & Strong Names New National Sales RepresentativeThe wholesale manufacturer and precious metals refiner has appointed Michael Angelo as its new national sales representative.
MajorsApr 01, 2026
Foundrae Sues Pandora for Allegedly Copying Its Medallion DesignsFoundrae also accused the jewelry giant of copying its mood board style of marketing.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
AuctionsApr 01, 2026
John Jacob Astor IV’s Titanic Pocket Watch Heads to AuctionA Patek Philippe for Tiffany & Co. timepiece owned by the American businessman who died on the Titanic will be offered at Freeman's Chicago.
SurveysApr 01, 2026
Consumers’ Outlook Improves Again in MarchThe Conference Board’s Consumer Confidence Index edged up, with optimism about the present outweighing worries about the future.
IndependentsApr 01, 2026
Zachary’s Jewelers’ Constance Polamalu to Release Children’s BookThe retailer’s Zach Bear gift comes to life in “Zach Bear and the Window Necklace,” which centers on curiosity, bravery, and helping.
Events & AwardsApr 01, 2026
AGA Opens 2026 Gemological Scholarship, Research Grant ApplicationsApplications are open for the AGA Gemological Scholarship Program through May 15, and until June 2027 for the Gemological Research Grant.
ColumnistsMar 31, 2026
Q1 Clues That Reveal Where Your Jewelry Store’s Sales Are Heading These customer behavior patterns say a lot about how successful your jewelry store is going to be this year, Emmanuel Raheb writes.
CollectionsMar 31, 2026
Mejuri Adds Silver to ‘Puzzle’ CollectionMejuri’s popular collection of 18-karat yellow gold vermeil rings debuted in sterling silver alongside new “Puzzle” slider charms.
CollectionsMar 31, 2026
Buddha Mama, Ashley Longshore to Host Pop-Up in DallasThe Miami-based jewelry brand and the NYC-based artist will be in Dallas from April 9-11.
SourcingMar 31, 2026
NDC Designates April 8 as 'World Diamond Day'The initiative invites those in the industry to share stories on social media highlighting the meaning and impact of natural diamonds.
SourcingMar 31, 2026
GIA VP Jillian Wolk to Take Over at Tracr Wolk’s first day on the job as CEO of Tracr, De Beers Group’s blockchain platform, will be May 1.
EditorsMar 30, 2026
Tom Moses Looks Back on His Decades at GIA Moses, who will leave the lab in May after nearly 50 years, discusses his start in the business, gemstones that stand out, and what’s next.
TrendsMar 30, 2026
Oscar Heyman Debuts First Spring CatalogThe new catalog, which showcases 35 one-of-a-kind pieces of jewelry, is a compliment to the company’s popular holiday catalog.
SourcingMar 30, 2026
Rio Tinto Hauls Last Load from DiavikProduction has ceased at the Canadian diamond mine, which has yielded more than 150 million carats of rough diamonds in its 23-year run.
MajorsMar 30, 2026
Tanishq Opens First New England LocationThe store opening marks the 10th United States location for the India-based jewelry retailer.
MajorsMar 27, 2026
Saks Global Has Changed Its Mind About Closing These 3 StoresTwo Saks Fifth Avenue locations, one in Florida and one in California, and one Neiman Marcus store are off the chopping block.
IndependentsMar 27, 2026
Jimmy West, Longtime LJG Executive Director, Dies at 72West, who started in the art department at the Leading Jewelers Guild in 1979, is remembered for his patience, kindness, and dedication.
CollectionsMar 27, 2026
Itä’s ‘Yarí Whirl’ Ring Tells Every Side of the StoryIn the “Tesoro” version of the ring, our Piece of the Week, each side of the gold hexagonal nugget has a unique colored gemstone design.
WatchesMar 26, 2026
Q&A: Citizen Watch America President Jeffrey Cohen on Eco-Drive’s 50th AnniversaryCohen discusses the evolution of Citizen’s light-powered technology, the brand’s cross-generational appeal, and tariffs.
IndependentsMar 26, 2026
Peter Smith Pens Book on Human Behavior in Sales“Essentially Human: On Sales and Salespeople" reveals the underlying human traits and behaviors of the most successful sales professionals.
CollectionsMar 26, 2026
Lionheart Celebrates 13 Years of ‘Cassandane’The collection features symbols of love, luck, and light, based on the story of Queen Cassandane and Cyrus the Great of Persia.
