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
Policies & IssuesOct 07, 2026
The Plumb Club Amplifies Its Voice as Geopolitical Pressures MountThe supplier organization recently joined JA and JVC to have more input on political issues affecting the jewelry industry.
CollectionsOct 07, 2026
Blue Nile, Royal Asscher Collection Highlights Natural Diamond BeautyBlue Nile, a Signet Jewelers-owned brand, is now Royal Asscher’s exclusive licensed retailer in North America.
CollectionsOct 07, 2026
4 Standout Pieces in Audemars Piguet’s First High Jewelry Collection “Royal Oak” pays homage to the brand’s most popular watch model using 18-karat gold as well as diamonds, emeralds, and sapphires.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
SourcingOct 07, 2026
AGTA Extends Deadline for 2026 Spectrum Awards EntriesParticipants now have until Oct. 14 to complete their submissions.
Weekly QuizOct 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Policies & IssuesOct 06, 2026
6 Charged in Connection to String of New Jersey Smash-and-GrabsThe alleged thieves used crow bars and sledgehammers to smash into jewelry stores across the state.
ColumnistsOct 06, 2026
Sherry Smith: Is the Consumer Really Trading Up?Ahead of the holidays, Smith urges jewelers to take a hard look at who’s buying jewelry, what they’re purchasing, and who’s stopped buying.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
SourcingOct 06, 2026
DDG Taps Influencers for ‘My Diamond Does Good’ CampaignIn the new consumer-facing campaign, four fashion and lifestyle creators share the stories behind their natural diamond pieces.
Events & AwardsOct 06, 2026
JIS Fall Returns to MiamiThe 2026 edition will feature presentations on alternative materials and design trends, as well as pop-up activations on the show floor.
SourcingOct 05, 2026
De Beers to Take Full Ownership of Gahcho KuéIt is the last fully operational diamond mine in Canada following the recent closures of Ekati and Diavik.
AuctionsOct 05, 2026
The Star Cats of the Sandy Lerner AuctionThese jewels stood out at Bonhams’ sale of the cat-loving tech entrepreneur’s collection of objects depicting the feline form.
CollectionsOct 05, 2026
Sorellina Writes Another Love Letter for ‘Postscript’ CollectionThe fine jewelry brand has expanded the collection that debuted at Couture with four new designs based on its most popular styles.
SourcingOct 05, 2026
Bruce Bridges Joins CIBJO BoardThe AGTA president was elected for a two-year term on the board of directors.
SourcingOct 02, 2026
De Beers, National Geographic Society Renew Okavango Eternal Partnership The partnership, a pledge to protect Africa’s Okavango River Basin, has been extended for an additional five years.
MajorsOct 02, 2026
Pandora Opens New $150M Manufacturing Facility in VietnamThe new facility, its first outside of Thailand, will boost its manufacturing capacity by 50 percent.
TrendsOct 02, 2026
Hearts On Fire Celebrates 30th Anniversary With Heart PendantThe special-edition “Dream” pendant, our Piece of the Week, was created to mark Hearts On Fire’s 30-year milestone with 30 diamonds.
CrimeOct 01, 2026
Police Looking for 4 Suspects in $600K Smash-and-Grab RobberyDubai Jewelers in Springfield, Virginia, was once again the target of an armed robbery.
SurveysOct 01, 2026
Rolex Ranks Among Most Recommended Brands in US, Survey Says YouGov’s 2026 U.S. Most Recommended Brands report’s out, and a fast-fashion giant is sitting at No. 1 while Rolex is just shy of the top 5.
SourcingOct 01, 2026
Columbia Gem House Opens ‘Cutting Toward Change’ FundraiserProceeds from its jewelry raffle will benefit an organization working in India to combat silicosis, a lung disease affecting stone cutters.
TrendsOct 01, 2026
Carolina Hurricanes’ Championship Ring Reveals Hidden Hockey Puck PendantThe rings, crafted by Jason of Beverly Hills, celebrate the hockey team’s Stanley Cup win with design elements that honor its traditions.
TrendsOct 01, 2026
Amanda’s Style File: October’s Color Range This roundup of birthstone jewelry for October features vibrant tourmalines and opals with personality.
SourcingSep 30, 2026
Botswana’s President, De Beers CEO Say Diamond Demand Is RecoveringPresident Duma Boko spoke at back-to-back events in the city last week, touting Botswana’s stability and the diamond “bounceback.”
CollectionsSep 30, 2026
Oscar Heyman’s Holiday Book Is ‘A Living Archive’ The catalog showcases 112 new, one-of-a-kind pieces amid highlights from the jeweler’s historic archive.
SourcingSep 30, 2026
Gemfields Posts $98.5M Loss, Writes Down Value of Ruby MineIts Montepuez Ruby Mining operation in Mozambique, which is not yielding enough high-quality rubies, has taken a $125 million hit.
SurveysSep 30, 2026
Consumer Confidence Falls to 12-Year Low in SeptemberThose surveyed were worried about the present and the future, with write-in responses mentioning high oil and gas prices.
Events & AwardsSep 30, 2026
Jewelers of America, JA New York to Host Networking EventThe event will take place on the evening of Oct. 26 in New York City.
