Majors

Pandora Eyes Expansion Into ‘New and Underserved’ Markets

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.

Pandora store
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 … 

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.”

The Latest

Image of Winona Ryder and Iman from Pandora’s Be Love marketing campaign
FinancialsAug 15, 2025
In Q2 Results, Pandora Talks Tariffs, Q4 Plans

The company had a solid second quarter, with sales of non-charm jewelry outpacing sales of pieces in its core collections.

Taylor Swift Etho Maria ruby earrings The Life of a Showgirl TS12
EditorsAug 15, 2025
Piece of the Week: Etho Maria’s Showgirl-Approved Ruby Drop Earrings

Taylor Swift dons the vibrant pair in new promotional imagery for her upcoming album, “The Life of a Showgirl,” set to release in October.

Audemars Piguet Starwheel Watch
WatchesAug 15, 2025
Audemars Piguet Acquires Majority Stake in Manufacturer

Its investment in micromechanics expert Inhotec will preserve skills essential to the watchmaking industry as a whole, said the company.

rio-article photo-diamond.jpg
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine Jewelry

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

Pippa Small Myanmar Fish Cluster
CollectionsAug 14, 2025
In Midst of ‘Sardine Girl Summer,’ Pippa Small Looks to ‘Flounder Fall’

Her new “Ocean” collection was inspired by Myanmar’s traditional articulated fish jewelry, with depictions of flounder, catfish, and more.

Weekly QuizAug 15, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
LA Trading Day
SourcingAug 14, 2025
West Coast Orgs to Host Trading Event, Mixer in LA

The full-day sourcing and networking event, slated for Aug. 18, will be followed by the fifth annual Mega Mixer Summer Soirée.

Cristiano Ronaldo and Stephanie Gottlieb Ring
TrendsAug 13, 2025
Cristiano Ronaldo Proposes With Gigantic Oval-Cut Diamond

Model Georgina Rodríguez received a rock of an engagement ring, with her diamond estimated to be 35 carats, experts say.

an instructor and a student in a bench jewelry classroom
Brought to you by
Investing in the Next Generation of Bench Jewelers

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

International Colored Gemstone Association logo
SourcingAug 13, 2025
ICA Names 2025 Board of Directors

The board elected 9 new directors at its recent ICA Congress in Brazil.

Whiskey Barrel Ring
TrendsAug 13, 2025
Colorado Jeweler, Whiskey Maker Collab on Ring Giveaway

Three winners will receive a custom ring from Honest Hands Ring Co. inlaid with a piece of history from Denver-based distillery Stranahan’s.

People shopping in a mall
SurveysAug 13, 2025
These Are The 25 Hottest Retailers, Says NRF

JD Sports and Wawa were among the fastest-growing retail companies in the U.S. last year.

Columbia Gem House Winza sapphires and rubies
SourcingAug 13, 2025
Columbia Gem House Launches Winza Sapphires, Rubies

The new inventory, all untreated, features vibrant hues and unique bicolor combinations.

Gemfields Faberge
SourcingAug 12, 2025
Gemfields Sells Fabergé for $50M

Acquired by a tech investor, the historic brand will continue to focus on jewelry, accessories, and timepieces.

Shipping containers on a ship
Policies & IssuesAug 12, 2025
Higher Tariff on Chinese Imports Paused for 90 Days, Trump Says

President Donald Trump issued an executive order extending the pause on higher tariffs to November as negotiations with China continue.

Jacquie Aiche Thunderbird Slab Collection Campaign
CollectionsAug 12, 2025
Jacquie Aiche’s New Collection Harnesses the Energy of the Thunderbird

The “Thunderbird Slab” collection features a thunderbird motif as a symbol of power, protection, and boundless possibility.

Duvall O’Steen and Jen Cullen Williams
ColumnistsAug 12, 2025
Creative Connecting: How to Take a Better Headshot

Columnists Jen Cullen Williams and Duvall O’Steen share tips on how to elevate your professional image.

Vigil for slain Wheat Ridge, Colorado jeweler Peter Damian Arguello
CrimeAug 11, 2025
Man Convicted of First-Degree Murder in Death of Colorado Jeweler

Peter Damian Arguello, a jeweler in the Denver suburb of Wheat Ridge, was found dead inside his store in November 2023.

Lisa Bridge
IndependentsAug 11, 2025
Lisa Bridge to Depart Ben Bridge Jeweler

The retailer, owned by Berkshire Hathaway, is becoming part of the Berkshire Hathaway Jewelry Group with Helzberg.

Bethenny Frankel
Events & AwardsAug 11, 2025
Bethenny Frankel to Give Keynote at CBG’s Experience Show

The Continental Buying Group’s 2025 Tampa Experience Show is slated for Sept. 8-10.

Nora Kühner fashion design consulting trend forecast colors 2027
EditorsAug 11, 2025
The Colors Expected to Be On-Trend in a Couple Years

Associate Editor Lauren McLemore recently attended a fabrics trade show where a trend forecaster shared her predictions for summer 2027.

Brilliant Earth Jolie Mosaics engagement ring
FinancialsAug 08, 2025
Brilliant Earth’s Q2 Sales Up 3% as Engagement Ring Sales Rise

The company raised its full-year sales guidance while noting it has not yet assessed the potential impact of the latest tariff news.

Jewellers for Hope charity event
Events & AwardsAug 08, 2025
GJEPC’s Jewellers for Hope Celebrates 10 Years of Fundraising

The organization has raised more than $1.3 million for charity since its inception.

Rahaminov Diamonds Emerald-Cut Diamond Bezel Bangle
TrendsAug 08, 2025
Piece of the Week: Rahaminov Diamonds’ Bezel Bangle

The brand’s latest iteration of a bezel-set diamond bangle features clean lines and a timeless design for a new modern silhouette.

Black and white photo of Tony Bennett near a microphone
WatchesAug 07, 2025
Bulova’s New Collection Honors Tony Bennett

The first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.

Sapphire page in Chatham’s “Ultimate Lab-Grown Catalog”
Lab-GrownAug 07, 2025
Chatham Releases Catalog for Loose Lab-Grown Gemstones

The catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.

Rembrandt Blue Jay, Hummingbird, Cardinal Bird Charms
TechnologyAug 07, 2025
Rembrandt Charms Debuts New Website, Bird Charms

The company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.

Shipping containers on a ship
Policies & IssuesAug 06, 2025
Tariff on India to Rise to 50%, Trump Says

An additional 25 percent tariff has been added to the previously announced 25 percent.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy