Ben Bridge Is Selling Its Pandora Franchise Stores Back to the Brand
Plus, a look at how Pandora fared in 2021.
![Ben Bridge will return ownership of its 37 Pandora stores to Pandora to focus on its core business. (Image courtesy of Ben Bridge Jeweler's website) 20220112_Ben Bridge.jpg](https://uploads.nationaljeweler.com/uploads/73cfdc324cd9637a40c508fc5bec64ad.jpg)
The stores will be returned to Pandora in early March, according to a press release about the change of ownership.
“The cornerstone of our business is building customers for life, and that is why we first fell in love with Pandora,” said Ben Bridge CEO Lisa Bridge.
“This has been an important and successful chapter in our history, and we know our team will be in excellent hands as a part of the broader Pandora organization. This pivot will give us greater focus and enable us to innovate and grow in new ways.”
The two companies first teamed up in the spring of 2010.
Today, Ben Bridge’s Pandora store network spans five states as well as British Columbia, Canada. The 110-year-old jeweler is Pandora’s largest franchisee in North America.
Ben Bridge said the sale of its franchise stores back to Pandora will give it time to create even more growth opportunities after marking 2021 as its “most successful” year yet.
It is the second time in recent months Ben Bridge has cut back its store count. Watches of Switzerland acquired Ben Bridge’s Mall of America store outside of Minneapolis-St. Paul, one of five stores the retailer scooped up in late 2021.
Ben Bridge will continue to stock Pandora jewelry in its own stores and on its website.
Pandora has bought back a number of franchise stores in the United States in recent years, including 18 stores across New England run by Laws Management in 2017 and 14 stores previously owned by Hannoush Jewelers in 2014.
Globally, the number of Pandora franchise stores has fallen 18 percent between fiscal 2020 and 2016, while the number of Pandora-owned stores has more than doubled, up 131 percent, in that same period.
In 2016, Pandora operated 2,138 concept stores, including 598 owned by Pandora and 976 owned by franchisees, and had 564 third-party distributors.
By Q4 of fiscal 2020, Pandora operated 2,690 concept stores, including 1,382 owned by Pandora and 797 owned by franchisees, and had 511 third-party distributors.
Prior to Ben Bridge’s announcement, Pandora reported its preliminary annual results, which exceed its fiscal guidance with fourth-quarter and full-year revenue hitting record levels.
Fourth-quarter revenue was up 14 percent year-over-year to 9 billion Danish kroner ($1.37 billion) compared with 7.89 billion kroner ($921.6 million) in the fourth quarter last year, and up 13 percent when compared with Q4 2019.
Full-year revenue was up 23 percent year-over-year to 23.4 billion Danish kroner ($3.57 billion) compared with 19.01 billion Danish kroner ($2.2 billion) in the previous year, and up 7 percent compared with 2019.
In the U.S., quarterly revenue was up 26 percent while full-year revenue was up 55 percent.
Prior to the release of its interim results, a memo from Pandora had predicted that “the unusual strong growth” in the U.S. may “ease off” in the fourth quarter, adding there was uncertainty around overall U.S. market development in 2022.
“Pandora is confident that whatever direction the overall U.S. market will go in 2022, we believe we have enough ammunition in the plans to perform better than the overall U.S. market, like we have done in 2021,” said the company.
Overall organic growth reached 23 percent, exceeding its guidance of 18 to 20 percent, while the EBIT margin was 25 percent, surpassing its 24 to 24.5 percent guidance.
A low single digit percentage of physical stores were temporarily closed during the fourth quarter due to COVID-19, said Pandora, noting that stores in several of its markets were hurt, particularly in China.
“The recent escalation of COVID-19 continues to drive some uncertainty with regards to financial performance in 2022,” said the company.
Pandora will release its official full-year results on Feb. 9.
The Latest
![These “Double Loop” earrings feature a drop-cut amethyst sitting atop the lower hoop, totaling 1.60 carats between both earrings. The hoops are made of silver covered in “pistacchio” colored enamel, while 9-karat yellow gold holds the stones in place and connect the two hoops behind the earlobe ($1,770). Bea Bongiasca’s Double Loop Earrings](https://uploads.nationaljeweler.com/uploads/f338ef6b4603be3c97765f833b831ca0.jpg)
Commemorate “brat summer” with these green hoops.
![The skyline of downtown Providence, Rhode Island. Jewelers of America held one of its Multifacted Learning Workshops there on July 17 and National Jeweler Editor-in-Chief Michelle Graff tagged along. Stock image of Providence, Rhode Island, skyline](https://uploads.nationaljeweler.com/uploads/4ec5b02d4cbaaaa2283bdcf6820950a4.jpg)
Editor-in-Chief Michelle Graff returns from Rhode Island with thoughts about in-store shopping and a trends report.
Sponsored by Gemological Institute of America
![Untitled design.jpg](https://uploads.nationaljeweler.com/uploads/583fbcb2bb839782810080debef35d3c.jpg)
As the demand for lab-grown diamond jewelry may still be increasing, the most notable change we are likely to see is price stabilization.
![Earlier this month, online giant Amazon and the Better Business Bureau filed a joint federal lawsuit against ReviewServiceUSA.com for allegedly selling fake reviews, both positive and negative. Amazon package outside door](https://uploads.nationaljeweler.com/uploads/27fce4225a38900d54a5536ce523a22d.jpg)
They claim ReviewServiceUSA.com was selling both positive and negative reviews of products and businesses.
![](https://uploads.nationaljeweler.com/uploads/99a46b30cc354962ac2e29ecd113587a.jpg)
![A shot of the Venetia diamond mine in South Africa, owned by De Beers Group. The diamond miner and marketer saw revenue drop 21 percent and rough diamond sales decline 20 percent in a “weak” market for diamonds. De Beers’ Venetia diamond mine](https://uploads.nationaljeweler.com/uploads/a1f16ceaaba662e80385166060d192a7.jpg)
Lab-grown diamond sales in the United States and ongoing economic challenges in China are impacting natural diamond demand.
A longtime member of IJO, she’s remembered for her passion for design, learning, and environmentalism.
![1872 x 1052 Gemolite.jpg](https://uploads.nationaljeweler.com/uploads/9d60901b44425a53b9010301897a3bbc.jpg)
GIA®’s most advanced microscope has new features to optimize greater precision and comfort.
![A malachite and diamond bracelet from Pomellato’s “Pom Pom Dot” collection, launched earlier this year. Pomellato and Boucheron were bright spots for Kering in an otherwise underwhelming first half of the year. Pomellato Malachite Pom Pom Dot bracelet](https://uploads.nationaljeweler.com/uploads/3c237b62e009742fc52487097daf3c5a.jpg)
The gains come amid a tough time for parent company Kering, which saw sales slide 11 percent in the first half of the year.
![A shot from the advertising campaign for LVMH-owned Bulgari’s “Eden the Garden of Wonders” high jewelry collection. LVMH’s jewelry and watch sales slipped in the first half of the fiscal year. Bulgari high jewelry campaign](https://uploads.nationaljeweler.com/uploads/c24eb75ca8cea44d2e9859648f4a98ee.jpg)
Tiffany & Co. is focusing on its “iconic” collections while the company has made changes at the top at TAG Heuer and Hublot.
![Chaumet, a Parisian jeweler owned by LVMH, has designed the Olympic and Paralympic Games medals. Chaumet Paris 2024 Olympics medals](https://uploads.nationaljeweler.com/uploads/7831b3a738baddfc7d783e6df0fbf796.jpg)
The Parisian brand is the first jewelry company in the history of the Olympic and Paralympic Games to design the medals.
![The acquisition of Union Life & Casualty by Jewelers Mutual will help strengthen both the pawn market and the insurance industry, said JM. Jewelers Mutual and Union Life and Casualty logos](https://uploads.nationaljeweler.com/uploads/195925667226ecfc51b4e1bb09607143.jpg)
Union Life & Casualty will join JM Insurance Agency Partners, expanding the provider’s pawnbroker coverage.
![The winner of this year’s Lonia Tate scholarship, Bradlei Smith will receive the opportunity to earn her Graduate Gemologist diploma from GIA and, following graduation, an internship at Ben Bridge Jeweler in Seattle. Bradlei Smith](https://uploads.nationaljeweler.com/uploads/996834935ae30a7a1195db8b9db6cb7d.jpg)
Los Angeles-based Bradlei Smith was selected for this year’s award.
![Peter Smith is an industry consultant, speaker, sales trainer, and author. He can be reached via email at TheRetailSmiths@gmail.com. National Jeweler columnist Peter Smith](https://uploads.nationaljeweler.com/uploads/bec7295a7f478778b1c196e6d81e7cd9.jpg)
In his latest column, Smith shares multiple reasons why people who look at the glass as being hall full often make better salespeople.
![De Beers Group mined 6.4 million carats of diamonds in the second quarter of 2024, down from 7.6 million in the same period last year. (©De Beers Group/Photo credit: Ben Perry @ Armoury Films) De Beers rough diamond display](https://uploads.nationaljeweler.com/uploads/80cd02b1c8384f4b2efda0bcdf6a75e1.jpg)
The company also reported the $150 million sale of an iron ore royalty right, part of its ongoing effort to divest “non-core” assets.
![In honor of its summer bridal event, Long’s Jewelers is partnering with Wequassett Resort and Golf Club on Cape Cod in Massachusetts, and jewelry brand JB Star on a vacation giveaway. Long’s Jewelers giveaway promo](https://uploads.nationaljeweler.com/uploads/4e7a90944c4e8875a4f3818dbe26b28b.jpg)
The giveaway is part of the New England jeweler’s summer bridal event.
![L.A.-based flower designer, Sophia Moreno-Bunge models Guzema’s “Hidden Beauty” collection in front of a garden in Rustic Canyon in Santa Monica, California. Sophia Moreno-Bunge of Isa Isa modeling Guzema’s Hidden Beauty collection](https://uploads.nationaljeweler.com/uploads/6f3822623eb7fd2f6468f82825194cb1.jpg)
The ad features three celebrity florists creating floral sculptures while wearing jewelry by Guzema.
![The Entrepreneurship Grants program supports winners with financial aid to scale their businesses and increase their societal impact, said Diamonds Do Good. Pictured here are three of the 13 winners, top right is Tresia Shituula, and bottom row left to right, are Monkgogi Moshaga and Mohamed Samu. Tresia Shituula, Monkgogi Moshaga, Mohamed Samu](https://uploads.nationaljeweler.com/uploads/a7c9b87301b76a9446f6522747ce5b95.jpg)
The grant provided a total of $100,000 to support 13 entrepreneurs from diamond communities in Africa and India.
![Ghazi Osta, better known as Gus, was the owner and president of Volusia Gold & Diamond, a store he and his wife, Leigh Osta, opened in 1986. He was shot and killed inside the store Friday afternoon after a brief argument with a regular customer. (Photo courtesy of Volusia Gold & Diamond Facebook page) Ghazi “Gus” Michel Osta](https://uploads.nationaljeweler.com/uploads/c8c1fa3df746cbd364915a98dcac9d21.jpg)
Ghazi Michel Osta, or “Gus,” was killed Friday by an 83-year-old man said to be a frequent customer at his store, Volusia Gold & Diamond.
![Elyssa Jenkins-Pérez (left) is the Responsible Jewellery Council’s new head of North American development, and Effie Marinos is its new specialist advisor for technical standards. Elyssa Jenkins-Perez and Effie Marinos](https://uploads.nationaljeweler.com/uploads/94332af0c7a776e7a8c36fabf76baa5f.jpg)
The organization also announced Effie Marinos as its new specialist advisor for technical standards, as well as four other appointments.
![Karen Rentmeesters, who joined the Antwerp World Diamond Centre in 2010, will take on the role of CEO. Karen Rentmeesters](https://uploads.nationaljeweler.com/uploads/3256fcc71cd43a399055c61f68486269.jpg)
Rentmeesters has served as interim CEO since April following former CEO Ari Epstein’s resignation.
![Longtime Washington, D.C., jeweler Brian Mann (right) with his wife Jessie Mann, an artist who custom-paints porcelain Limoges Boxes, at a 2016 Jewelers of America member event. Mann, the longtime co-owner of David Mann Jewelers, died June 21 at age 70. Brian and Jessie Mann](https://uploads.nationaljeweler.com/uploads/be4debc6e0b3198943a66ef0e2197c2c.jpg)
Mann, whose family’s jewelry store was located inside the Pentagon, is remembered for being a thoughtful champion of the industry.
![The 1916 Company recently opened a new Tudor boutique in Denver’s Cherry Creek Shopping Center. Tudor store in Denver](https://uploads.nationaljeweler.com/uploads/9f8600ea53ed731963331ebd28a10d16.jpg)
The 500-square-foot boutique is located in Denver’s Cherry Creek Shopping Center.
![This necklace from Messika’s “So Move Max” set is made of yellow gold with 19.18-carats of brilliant-cut diamonds and designed with circle motifs that move within the links (price upon request). Messika’s So Move Max Necklace](https://uploads.nationaljeweler.com/uploads/14c78af4a4e8c6b996a81bbb5a5bc69f.jpg)
Dance all night long with the “So Move Max” set’s necklace.
![On Sept. 1, Julien Tornare (left), current CEO of TAG Heuer, will become CEO of Hublot. Antoine Pin, now the general manager of Bulgari’s watch business, will take over Tornare’s role as CEO of TAG Heuer. (Images courtesy of LinkedIn) Julien Tornare and Antoine Pin](https://uploads.nationaljeweler.com/uploads/b24627b34ece895ddd254bae22751fb8.jpg)
Luxury giant LVMH is reshuffling the leadership in its watches division.
![A rendering of a billboard from Etsy’s new campaign. The campaign is designed to highlight the platform’s creators and how their products are made. Etsy billboard rendering in NYC](https://uploads.nationaljeweler.com/uploads/9a94f394f326b90dc1c9da6a711c5e09.jpg)
Sellers and shoppers have spoken out against a rise in mass-produced merchandise on the platform meant to highlight handmade goods.
![Ariana Grande said she cannot wait “to inspire others to embrace their own unique sparkle,” as Swarovski’s brand ambassador. (Photo credited to Mert Alas and Marcus Piggot for Swarovski) Ariana Grande Modeling in Swarovski Jewelry](https://uploads.nationaljeweler.com/uploads/adaa79dce0741a275427155078691611.jpg)
The celebrity will star in Swarovski’s holiday campaign.