CollectionsOct 03, 2023
Pandora’s New Game of Thrones Collection Is Here MajorsOct 12, 2023
Pandora Eyes Expansion Into ‘New and Underserved’ Markets
The company also plans to open up to 275 new stores in existing markets by 2026.
During Pandora’s recent Capital Markets Day, the company shared its future expansion plans.
Copenhagen, Denmark—Pandora is ready to take on the world, or, at least, a few new markets.
During its recent Capital Markets Day, the company shared updates on its “Phoenix” turnaround strategy and plans for the future, including store openings and expansions into new geographies.
The Phoenix strategy, launched in 2021, focused on sustainable growth and attracting new, younger consumers.
“Looking back at the past few years, we are proud of our achievements. We have fundamentally changed how we work, and the organization is much stronger. It’s clear that Pandora is a very different company today,” said CEO Alexander Lacik.
The company said its investments in the brand, store network, organization, and people are paying off.
The jeweler said the next chapter of its strategy will focus on scaling up investments to accelerate revenue growth.
Looking to gain more ground in the affordable luxury space, the company will boost investments in brand desirability and its store network.
“With a strengthened operating model, Pandora now has the capacity to target growth opportunities across a wider range of geographies,” said the company.
The company said it will be taking the first steps to enter into "new and underserved" markets, including South Korea, Japan, and India.
It has a “small presence” in South Korea and Japan already, said a spokesperson. It does not currently operate in India, though it did years ago in a limited capacity through a partner.
Related stories will be right here …
During its recent Capital Markets Day, the company shared updates on its “Phoenix” turnaround strategy and plans for the future, including store openings and expansions into new geographies.
The Phoenix strategy, launched in 2021, focused on sustainable growth and attracting new, younger consumers.
“Looking back at the past few years, we are proud of our achievements. We have fundamentally changed how we work, and the organization is much stronger. It’s clear that Pandora is a very different company today,” said CEO Alexander Lacik.
The company said its investments in the brand, store network, organization, and people are paying off.
The jeweler said the next chapter of its strategy will focus on scaling up investments to accelerate revenue growth.
Looking to gain more ground in the affordable luxury space, the company will boost investments in brand desirability and its store network.
“With a strengthened operating model, Pandora now has the capacity to target growth opportunities across a wider range of geographies,” said the company.
The company said it will be taking the first steps to enter into "new and underserved" markets, including South Korea, Japan, and India.
It has a “small presence” in South Korea and Japan already, said a spokesperson. It does not currently operate in India, though it did years ago in a limited capacity through a partner.
As for its existing markets, there are 7,000 “viable locations” for new stores in the regions where it already operates, according to Pandora’s analysis, first shared during its 2021 Capital Markets Day.
From 2024 through 2026, Pandora expects 225 to 275 store openings and 175 to 225 shop-in-shop openings.
Last year, Pandora announced it had partnered with Macy’s to open 28 shop-in-shops after a soft launch in 5 stores the previous year.
In 2021, Pandora set a long-term goal of doubling its U.S. revenue from its 2019 level of 4.7 billion kroner ($435 million).
It’s close to reaching that goal, clocking in at 7.9 billion kroner ($731.2 million) in 2022.
Pandora said it expects to surpass its target by 2025 with estimated revenue of 9.4 billion kroner ($870 million).
“Pandora’s market share in the US remains at low single-digit levels and Pandora sees ample growth opportunities in the U.S. beyond 2025,” said the company.
Pandora set a similar long-term goal for China, planning to triple its 2019 revenue numbers, but COVID-19 put a wrench in its plan.
Though it recently relaunched the brand in Shanghai, it expects a tough road ahead.
“Pandora continues to see significant long-term growth potential in China, but building a sizable business in China will be a longer journey than originally anticipated,” the company said.
In countries where Pandora already has a strong market share, like the U.K., Italy, and Australia, it expects like-for-like sales to grow steadily as it continues to build market share.
In markets where it has less of a strong foothold, like the U.S., Germany, and France, it expects to grow its market share and could see higher like-for-like growth.
All new stores will be under the new format, Evoke 2.0, starting in 2024.
The company began testing the new store concept in late 2021 in Milan and London. It incorporates a simplified layout and centers around personalization, offering engraving services, with an emphasis on being able to try on the jewelry.
As two-thirds of its revenue comes from gifting, said Pandora, the stores will also have a “gifting zone.”
More on Majors
The Latest
CollectionsApr 25, 2025
Sylvie Looks to Water in New Sculptural Bridal Collection“Shell Auranova” is the next generation of the brand’s bridal line, featuring half-bezel engagement rings with bold and fluid designs.
FinancialsApr 25, 2025
Kering’s Jewelry Brands Persevere as Q1 Sales Sink 14%Boucheron and Pomellato performed well in an otherwise bleak quarter for Kering amid struggles at Gucci.
EditorsApr 25, 2025
Piece of the Week: Deborah Meyers Experience’s ‘The Birds’ EarringsDesigner Deborah Meyers created her birds from oxidized sterling silver, rose-cut diamond eyes, and Akoya Keshi pearl feathers.
Brought to you by
Emerging Jewelers Accelerator Program Announces Second Cohort of Aspiring Jewelry Entrepreneurs Six new retail businesses were selected for the 2025 program, which began in January.
SourcingApr 25, 2025
De Beers Sales, Production Fall in Q1 Amid UncertaintyThe company said it expects sightholders to remain “cautious” with their purchasing due to all the unknowns around the U.S. tariffs.
Weekly QuizApr 24, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Supplier BulletinApr 24, 2025
Protect Your Customers and Your BusinessSponsored by the Gemological Institute of America
EditorsApr 24, 2025
Q&A: Wolf’s CEO Talks U.S. ExpansionSimon Wolf shares why the time was right to open a new office here, what he looks for in a retail partner, and why he loves U.S. consumers.
Brought to you by
Protect Your Customers and Your BusinessThe risk of laboratory-grown diamonds being falsely presented as natural diamonds presents a very significant danger to consumer trust.
IndependentsApr 24, 2025
Longtime Iowa Jeweler Herman Ginsberg Dies at 99 A third-generation jeweler, Ginsberg worked at his family’s store, Ginsberg Jewelers, from 1948 until his retirement in 2019.
FinancialsApr 24, 2025
Charles & Colvard Delisted From Nasdaq Due to NoncomplianceThe company failed to file its quarterly reports in a timely manner.
SourcingApr 24, 2025
Young Diamantaires Transition to NonprofitThe organization also announced its board of directors.
TrendsApr 24, 2025
Amanda’s Style File: So CharmingCharms may be tiny but with their small size comes endless layering possibilities, from bracelets to necklaces and earrings.
Events & AwardsApr 23, 2025
PDPaola Creative Director Wins FGI’s ‘Rising Star’ AwardPaola Sasplugas, co-founder of the Barcelona-based jewelry brand, received the Fine Jewelry Award.
AuctionsApr 23, 2025
Rare Custom Rolex Daytona Heads to AuctionA platinum Zenith-powered Daytona commissioned in the late ‘90s will headline Sotheby’s Important Watches sale in Geneva next month.
MajorsApr 22, 2025
Zales’ Rebrand Takes Playful Approach to Fine JewelryThe Signet Jewelers-owned retailer wants to encourage younger shoppers to wear fine jewelry every day, not just on special occasions.
AuctionsApr 22, 2025
Christie’s to Auction JAR Jewelry CollectionThe 21 pieces, all from a private collector, will be offered at its Magnificent Jewels auction next month.
ColumnistsApr 22, 2025
The PR Adviser: Building Buzz Through Word of MouthLilian Raji answers a question from a reader who is looking to grow her jewelry business but has a limited marketing budget.
GradingApr 22, 2025
Avi Levy Is GCAL By Sarine’s New Chief Growth OfficerGCAL by Sarine created the new role to sharpen the company’s focus on strategic partnerships and scalable expansion.
IndependentsApr 22, 2025
Brinker’s Jewelers Acquires Fellow IndependentThe Indiana jeweler has acquired Scottsdale Fine Jewelers in Scottsdale, Arizona.
Events & AwardsApr 21, 2025
An Exhibition Exploring the History of Cartier Is Now on Display“Cartier: Design, Craft, and Legacy” opened earlier this month at the Victoria and Albert Museum in London.
IndependentsApr 21, 2025
New York Jeweler to Close After 111 YearsVan Cott Jewelers in Vestal, New York, is hosting a going-out-of-business sale.
IndependentsApr 21, 2025
IJO Names New Director of Vendor Relations, Merchandise StrategyIndustry veteran Samantha Larson has held leadership roles at Borsheims, McTeigue & McClelland, Stuller, and Long’s Jewelers.
Events & AwardsApr 21, 2025
Jewelers of Louisiana, Mississippi Jewelers Association to Co-Host ConventionThe two organizations will hold the educational event together this fall in Mississippi.
Events & AwardsApr 18, 2025
Daymond John to Give Keynote at JCK Las VegasThe entrepreneur and “Shark Tank” star will share his top tips for success.
CollectionsApr 18, 2025
Piece of the Week: Dukachi’s ‘Easter Bread’ PendantThe Ukrainian brand’s new pendant is modeled after a traditional paska, a pastry often baked for Easter in Eastern European cultures.
IndependentsApr 18, 2025
Bremer Jewelry to Reveal Renovated StoreThe jeweler has announced a grand reopening for its recently remodeled location in Peoria, Illinois.
MajorsApr 18, 2025
Tiffany & Co. Employees Star in Mother’s Day CampaignThe “Strong Like Mom” campaign features moms who work at Tiffany & Co. and their children.
