Lab-GrownNov 08, 2022
Blue Nile Moves into Lab-Grown DiamondsFinancialsNov 08, 2022
Heading Into Q4, Pandora Raises Prices on Select Items 4%
Announced during its Q3 earnings call, Pandora also spoke on its new lab-grown diamond jewelry line.
Two pieces from “Diamonds by Pandora,” the company’s line of lab-grown diamond jewelry that launched in the United States in August. Executives said Tuesday the line is off to a good start and the brand will begin offering 2-carat lab-grown diamonds for the holiday season. Currently, the largest size available is a 1-carat stone.
Copenhagen, Denmark—Pandora has raised prices an average of 4 percent on one-third of its global inventory and said the launch of its lab-grown diamond line in the United States has been “well received.”
The company made both announcements during its third-quarter earnings call with investors, a quarter that saw the popular Danish bead brand hold the line on sales, sending its stock price up 8 percent in trading Tuesday.
Pandora’s Q3 sales totaled 5.26 billion Danish kroner ($712.4 million), up 1 percent when compared with the third quarter 2021 (3 percent on an organic basis), and a 13 percent increase compared with Q3 2019.
EBIT margin was 18.6 percent, down from 20.2 percent in the third quarter 2021.
In the U.S., Pandora’s sales slowed down as expected due in part to the lack of stimulus money, which supplemented consumers’ disposable income in 2021.
U.S. third-quarter sales sunk 9 percent compared with 2021 (3 percent on an organic basis) but were up 56 percent when compared with 2019.
The U.S. market was the test market for Pandora’s price increases, which were implemented in three stages beginning in the second quarter before going global in early October, CEO Alexander Lacik said on Tuesday’s earnings call.
After several years of cutting back on promotions, Pandora raised prices on items it identified as having a “more favorable elasticity profile;” specifically, gold-plated jewelry as well as jewelry that’s made in collaboration with another brand.
It did not raise prices on its entry-level items or “items of strategic importance.”
When asked by an analyst about the impact of higher prices so far, Lacik said it’s too early to tell.
He did note, however, that while the increases were implemented to drive revenue and profit, the company is wary of alienating customers, particularly potential new customers.
“We know in the past that customers react [to higher prices], and they react with their feet,” he said.
“It’s important that we allow people to come into the brand, then they have the opportunity to choose.”
Related stories will be right here …
The company made both announcements during its third-quarter earnings call with investors, a quarter that saw the popular Danish bead brand hold the line on sales, sending its stock price up 8 percent in trading Tuesday.
Pandora’s Q3 sales totaled 5.26 billion Danish kroner ($712.4 million), up 1 percent when compared with the third quarter 2021 (3 percent on an organic basis), and a 13 percent increase compared with Q3 2019.
EBIT margin was 18.6 percent, down from 20.2 percent in the third quarter 2021.
In the U.S., Pandora’s sales slowed down as expected due in part to the lack of stimulus money, which supplemented consumers’ disposable income in 2021.
U.S. third-quarter sales sunk 9 percent compared with 2021 (3 percent on an organic basis) but were up 56 percent when compared with 2019.
The U.S. market was the test market for Pandora’s price increases, which were implemented in three stages beginning in the second quarter before going global in early October, CEO Alexander Lacik said on Tuesday’s earnings call.
After several years of cutting back on promotions, Pandora raised prices on items it identified as having a “more favorable elasticity profile;” specifically, gold-plated jewelry as well as jewelry that’s made in collaboration with another brand.
It did not raise prices on its entry-level items or “items of strategic importance.”
When asked by an analyst about the impact of higher prices so far, Lacik said it’s too early to tell.
He did note, however, that while the increases were implemented to drive revenue and profit, the company is wary of alienating customers, particularly potential new customers.
“We know in the past that customers react [to higher prices], and they react with their feet,” he said.
“It’s important that we allow people to come into the brand, then they have the opportunity to choose.”
Analysts also had numerous questions about the U.S. introduction of “Diamonds by Pandora,” the company’s new line of lab-grown diamond jewelry.
Lacik said the line has been “well received” in the market two months into its launch. The company will add a 2-carat lab-grown diamond option ahead of the holiday season.
Diamonds by Pandora is sold at 270 stores across North America, as well as online, representing 3 percent of the company’s share of total business in the market. In physical stores offering the collection, it accounts for 5 percent of business.
Lacik noted the Diamonds by Pandora consumer is so far skewing younger in the U.S. than in the United Kingdom.
Millennials and Gen X were the main customers for Pandora’s lab-grown diamond jewelry in the U.K., while millennials and Gen Z are making up the lion’s share of customers so far in the U.S.
He said millennials and Gen Z seem to be “more aware” of lab-grown diamonds and “much more open” to them than older customers.
Editors' Picks
Sponsored by
Looking ahead to the remainder of the fiscal year, Lacik said the company is sticking with its guidance for the fiscal year, which calls for organic revenue growth of 4-6 percent.
“We don’t see a global recession creeping into our numbers yet.”
He said they do expect some financial impact from the fire that swept through its European distribution center in Hamburg, Germany, on Oct. 30, but expects any impact to be “manageable.”
There were no injuries or inventory damage in the blaze, and the team expects to have operations back to normal levels in the next few weeks.
Between these efforts and support from its distribution center in Thailand, Pandora expects to be “well prepared” with inventory for the holiday season.
In delivering his closing remarks on Tuesday’s call, Lacik noted he’s been asked by multiple journalists about what the future holds in light of the current uncertain macroeconomic and political climate.
He did not have an answer for them.
“I do not have a crystal ball,” he said. “As much as we wish we knew, we don’t know what the future holds for us, but we are ready to go.”
More on Financials
The Latest
EditorsJul 16, 2026
Q&A: Guzema’s Co-Owners On Its US Expansion, 10-Year AnniversaryValeriya Guzema and Mariana Lenha look back on the last decade and discuss the Ukrainian brand’s first U.S. store.
SourcingJul 16, 2026
Ekati to Close, Leaving Canada With One Diamond Mine The diamond mine, which opened nearly 30 years ago in Canada’s Northwest Territories, is expected to shut down by mid-August.
Events & AwardsJul 16, 2026
MJSA Mentor & Apprenticeship Program Certifies First Advanced Apprentice GraduateThe graduate, Grace Barden, credited the program with helping her secure a job as a bench jeweler.
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.
Events & AwardsJul 16, 2026
Jewelers of Louisiana to Host 80th ConventionThe event, scheduled for next month in New Orleans, will include dinner, a custom jewelry design contest, and education sessions.
Weekly QuizJul 16, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJul 15, 2026
1,305-Carat Diamond Recovered from Mine in BotswanaThe yet-to-be named stone is the 10th diamond weighing more than 1,000 carats to come out of Lucara’s Karowe mine.
IndependentsJul 15, 2026
New Jersey Jeweler Barry Berman Dies at 81The founder of Fords Jewelers, Berman is remembered for his love of connecting with his community.
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.
Events & AwardsJul 15, 2026
Hamptons Jewelry Show to Return in JulyThe open-to-the-public luxury jewelry and timepiece show, in its second year, is slated for July 23-26.
CollectionsJul 15, 2026
Pomellato’s New High Jewelry Is LiberatingBold color, expressive gem-setting, and sculptural form define the three chapters that make up “Stile Libero.”
IndependentsJul 14, 2026
Foundrae Opens First Standalone Store Outside USThe New York-based jewelry brand has expanded overseas, opening a store in London’s Mayfair district.
ColumnistsJul 14, 2026
Sherry Smith: What Today’s Jewelry Consumer Is Telling Us Rising revenue does not automatically mean a healthy business, particularly in the current economic landscape, Smith writes.
TrendsJul 14, 2026
Amanda’s Style File: Shoulder Dusters These long, fluid drop earrings are sure to catch the eye.
CrimeJul 14, 2026
Man Charged in $1M Jewelry Store Heist Lands on FBI Most Wanted ListAlberto Perez-Elias is one of four men charged with robbing a Cape Coral, Florida, jewelry store and is the only one still at large.
Events & AwardsJul 14, 2026
Conference on Mining, Sustainability Kicks Off in NYCInitiatives in Art and Culture is hosting its 16th annual Gold and Diamond Conference, with the theme of “Resilience.”
Lab-GrownJul 13, 2026
Stephanie Gottlieb Changes Her Mind on Lab-Grown DiamondsThe designer, who once said she’d never sell lab-grown diamonds, debuted two capsule collections designed to be fun and easy to wear.
SourcingJul 13, 2026
De Beers Announces Potential Layoffs, 2-Year Production Pause at VenetiaThe diamond miner and marketer is undergoing another round of cost-cutting measures ahead of its sale by Anglo American.
Events & AwardsJul 13, 2026
Registration Opens for JIS Fall 2026 ShowThe annual trade-only buying event is slated for Oct. 16-19 in Miami Beach, Florida.
Events & AwardsJul 13, 2026
AGTA Accepting Entries for Spectrum 2026AGTA also has announced the lineup of judges for the colored gemstone cutting and jewelry design contest’s various categories.
TechnologyJul 10, 2026
There’s a New Blind Box for Luxury Watches Collectibles platform Arena Club’s new Time Boxes could contain a Rolex or Patek Philippe watch.
TrendsJul 10, 2026
Jade Trau Creates a Constellation of DiamondsThe “Constellation Plié” collar, our Piece of the Week, features diamonds arranged in a constellation of shining stars.
SourcingJul 10, 2026
CFO of De Beers’ Consumer-Facing Division Leaves Company Shaun Wills joined the company in 2024 and was chief financial officer of the De Beers Brands and Consumer Markets division.
WatchesJul 10, 2026
Brilliant Earth Expands Into WatchesIn honor of its 20th anniversary, the jewelry brand has released a limited-edition collection of Swiss-made timepieces.
CollectionsJul 09, 2026
Boucheron’s New High Jewelry Collection Is an Ode to the Human Touch“Human Being” highlights the similarities and differences between us through five sets of jewelry that celebrate fine craftsmanship.
WatchesJul 09, 2026
Damiani Group Finalizes Acquisition of Baume & MercierRichemont will continue to provide operational services for the watch brand for a period while the group prepares to integrate it.
AuctionsJul 09, 2026
Pharrell Williams’ Joopiter Hires Former Bonhams Exec to Head New Watch DivisionNate Borgelt will lead the digital auction house and content platform’s new division as head of watches.
Events & AwardsJul 09, 2026
Halstead Names 2026 Grant WinnerEnoch Platero, founder and designer behind Enoch Michael, is the first Native American jeweler to win the award.
