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
IndependentsSep 29, 2025
Nina Pugliese, Longtime Henne Jewelers Employee, Dies at 65She was remembered as a creative and generous woman of faith, who also had a sweet tooth.
IndependentsSep 29, 2025
Mark Henry Jewelry to Debut in CanadaThe New York-based brand is set to launch a limited-time offering for the holiday season at Holt Renfrew in Toronto.
TrendsSep 29, 2025
Amanda’s Style File: Ear FocusMove over neck mess, the ear story is the way to make a layering statement today.
SurveysSep 26, 2025
Online Shopping, Influencers to Drive Holiday Spending, Mastercard SaysHoliday sales growth is expected to slow as consumers grapple with inflation and tariff-related uncertainty.
Weekly QuizSep 25, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsSep 26, 2025
Winners of Austin Jewelry Design Contest Announced Jamie Turner Designs is among the winners of the local “Austin Shines” contest, hosted by Eliza Page, a jewelry store in Austin, Texas.
TrendsSep 26, 2025
Piece of the Week: Kwit Jewelry’s Square Signet Pinky RingThe red and azure colorway is one of many fun enamel pairings offered, bringing whimsy to the classic style of a monogramed signet ring.
Brought to you by
reDollar.com Is Rolling Out the Next Level Jewelry, Diamond & Watch Consignment ProgramWith their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.
Policies & IssuesSep 25, 2025
JA CEO Provides Tariff Update Following Annual Fly-InA trade deal with Switzerland seems probable, but reaching an agreement with India remains a challenge, David Bonaparte said.
SourcingSep 25, 2025
2 African Countries Aim to Take Stake in De Beers Botswana’s president said his country wants a controlling share, while Angola envisions multiple countries holding minority stakes.
Lab-GrownSep 25, 2025
Kira Jewels Expands Lab-Grown Diamond ProductionThe manufacturer is adding 1,400 chemical vapor deposition (CVD) reactors to its growing facility in India.
IndependentsSep 25, 2025
Alex Moss’ New Flagship Brings Bold Jewels to SoHoThe jeweler to the stars has worked with Drake, A$AP Rocky, Tyler the Creator, and other celebrities.
WatchesSep 25, 2025
Wilson & Son Jewelers Donates to the Horological Society of New YorkThe Scarsdale, New York-based jeweler donated a professional-grade watch cleaning machine.
Policies & IssuesSep 24, 2025
Tariffs Throw Diamond Trade Into DisarrayThe 50 percent tariffs on diamonds shipped from India to the U.S. have pushed midstream manufacturers to the edge.
SourcingSep 24, 2025
De Beers Adopts New Strategies to Drive Natural Diamond Demand in IndiaDe Beers’ refreshed, multipronged approach, which includes generic promotions and retail partnerships, is delivering positive dividends.
Policies & IssuesSep 24, 2025
For Jewelry Manufacturers, Higher Tariffs Create Long-Term WorriesThey are trying to balance the need to sustain well-established relationships with the pressure higher tariffs have put on margins.
SourcingSep 24, 2025
A Helping Hand: An Effort to Boost Inclusivity in the IndustryJewelry manufacturer Jewelex has partnered with JOSH, an industry training center, on a program for people with disabilities.
CollectionsSep 24, 2025
Greenwich St. Jewelers Goes Back in Time With First Estate CollectionThe collection includes pieces dating back to the Victorian and Art Deco periods as well as mid-century and late 20th-century designs.
Policies & IssuesSep 24, 2025
Diamonds Do Good Names Marcus ter Haar as President-ElectHe previously served as co-chair of the nonprofit’s beneficiary committee.
CollectionsSep 24, 2025
Brilliant Earth’s New Jane Goodall Collection Calls for PeaceIts second collaboration with the conservationist features jewelry with dove and olive branch motifs.
SourcingSep 24, 2025
SRK Launches Kriam PharmaThe diamond manufacturer’s new company will provide accessible and affordable high-quality medicines across India.
ColumnistsSep 23, 2025
Quiet Luxury: What Fall’s Top Trend Means for JewelersEmmanuel Raheb shares tips on how a jeweler’s showcases, marketing, and social media presence can whisper, instead of shout.
SourcingSep 23, 2025
Super Smalls’ New Book Introduces Kids to Gems, Fine JewelryThe “Super Book of Gems” dives into the Mohs Hardness Scale, the Four C’s, and designs from jewelers like Cartier and Bulgari.
MajorsSep 23, 2025
Mattioli Names Kering Exec as New CEOClaudio Pasta will take the lead at the Italian fine jewelry brand, succeeding company founder Licia Mattioli.
CollectionsSep 23, 2025
Monique Lhuillier Adds Fashion Jewelry to Kay Jewelers LineThe new lab-grown diamond jewelry offering is the latest expansion of the designer’s “Bliss” collection.
SourcingSep 22, 2025
Rio Tinto Announces Final ‘Beyond Rare’ TenderThe miner is honoring the end of an era with an offering of 52 lots from the now-closed Argyle and the soon-to-close Diavik mines.
MajorsSep 22, 2025
Jewelry Manufacturer Vibhor Acquires AlorThe California-based fine jewelry brand will retain its identity post-acquisition, with new collections launching next year.
