FinancialsApr 24, 2024
Kering’s Jewelry Brands a Bright Spot in Tough Q1FinancialsMay 02, 2024
Pandora Raises Guidance After Strong Q1
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
Pandora started the year off strong, posting double-digit revenue growth in its first quarter.
Copenhagen, Denmark—Pandora started off its fiscal year on a high note, reporting double-digit revenue growth in Q1.
First-quarter revenue was up 17 percent year-over-year at actual exchange rates (18 percent on an organic basis) to 6.83 billion Danish kroner ($980.5 million), with like-for-like sales growth of 11 percent.
The new “Be Love” campaign bolstered Pandora’s brand strategy, it said, which aims to reframe consumer perception of the company as a full jewelry brand, rather than just a company that just sells beads and charms.
The campaign resonated with customers and drove like-for-like growth across its collections, Pandora said.
Like-for-like sales were up 3 percent for its core segment, which includes its “Moments” and “Me” collections and its collaborations.
Its “fuel with more” segment, which includes its lab-grown diamond jewelry as well as its “Timeless” and “Signature” collections, saw sales grow 34 percent in the quarter.
Sales of its lab-grown diamond jewelry collection totaled 63 million Danish kroner ($9 million) in the quarter, with like-for-like growth of 87 percent.
Pandora’s lab-grown jewelry is now sold in 700 stores in the United States, Canada, United Kingdom, Australia, Mexico and Brazil, with North America continuing to account for the largest proportion of revenue, said Pandora.
The company also expanded its store network, opening net 19 new concept stores and seven Pandora-owned shop-in-shops.
Pandora reiterated plans to open net 75 to 125 net concept stores and 25 to 50 Pandora-owned shop-in-shops in 2024.
In the U.S., momentum remained strong, said Pandora, with 9 percent like-for-like growth.
Its key European markets also performed well, with 9 percent like-for-like growth, with Germany as the standout, posting 67 percent like-for-like growth.
“We are very pleased with our start to the year, as we embark on the next chapter of ‘Phoenix.’ Whilst jewelry markets around us generally remain subdued, our ongoing brand investments allow us to take market share,” said Pandora CEO Alexander Lacik.
“We raise our revenue guidance and look forward to keep fueling our growth with exciting strategic initiatives over the coming years.”
Pandora now expects to see organic growth of 8 to 10 percent, up from its prior guidance of 6 to 9 percent. Its EBIT margin guidance is unchanged at around 25 percent.
So far in Q2, Pandora said sales are “healthy,” with high single-digit like-for-like growth.
The company’s Q2 results are set to be released Aug. 13.
First-quarter revenue was up 17 percent year-over-year at actual exchange rates (18 percent on an organic basis) to 6.83 billion Danish kroner ($980.5 million), with like-for-like sales growth of 11 percent.
The new “Be Love” campaign bolstered Pandora’s brand strategy, it said, which aims to reframe consumer perception of the company as a full jewelry brand, rather than just a company that just sells beads and charms.
The campaign resonated with customers and drove like-for-like growth across its collections, Pandora said.
Like-for-like sales were up 3 percent for its core segment, which includes its “Moments” and “Me” collections and its collaborations.
Its “fuel with more” segment, which includes its lab-grown diamond jewelry as well as its “Timeless” and “Signature” collections, saw sales grow 34 percent in the quarter.
Sales of its lab-grown diamond jewelry collection totaled 63 million Danish kroner ($9 million) in the quarter, with like-for-like growth of 87 percent.
Pandora’s lab-grown jewelry is now sold in 700 stores in the United States, Canada, United Kingdom, Australia, Mexico and Brazil, with North America continuing to account for the largest proportion of revenue, said Pandora.
The company also expanded its store network, opening net 19 new concept stores and seven Pandora-owned shop-in-shops.
Pandora reiterated plans to open net 75 to 125 net concept stores and 25 to 50 Pandora-owned shop-in-shops in 2024.
In the U.S., momentum remained strong, said Pandora, with 9 percent like-for-like growth.
Its key European markets also performed well, with 9 percent like-for-like growth, with Germany as the standout, posting 67 percent like-for-like growth.
“We are very pleased with our start to the year, as we embark on the next chapter of ‘Phoenix.’ Whilst jewelry markets around us generally remain subdued, our ongoing brand investments allow us to take market share,” said Pandora CEO Alexander Lacik.
“We raise our revenue guidance and look forward to keep fueling our growth with exciting strategic initiatives over the coming years.”
Pandora now expects to see organic growth of 8 to 10 percent, up from its prior guidance of 6 to 9 percent. Its EBIT margin guidance is unchanged at around 25 percent.
So far in Q2, Pandora said sales are “healthy,” with high single-digit like-for-like growth.
The company’s Q2 results are set to be released Aug. 13.
FinancialsApr 17, 2024
LVMH’s Q1 Jewelry Sales Fall 5%
FinancialsMar 27, 2024
Movado’s Full-Year Sales Sink 11%More on Financials
The Latest
TrendsApr 17, 2026
New (Groundbreaking) Floral Jewelry for Spring 2026Flower motifs are the jewelry trend blooming amongst the new collections that debuted this spring.
MajorsApr 17, 2026
QVC Group Files for Chapter 11 BankruptcyThe retailer reported an 8 percent decline in annual sales as it struggles under the weight of billions of dollars of debt.
CollectionsApr 17, 2026
Edina Kiss’ Earrings Are the Devil on Your ShoulderThe “Devil” drop earrings, our Piece of the Week, are part of designer Edina Kiss’ new namesake jewelry line that she will show at Couture.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
CrimeApr 17, 2026
FBI Issues Warning to Refineries, Retailers Due to High Price of GoldThe alert states that burglary crews are targeting jewelry businesses and details how jewelers and refineries can protect themselves.
Weekly QuizApr 16, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesApr 16, 2026
Cartier Brings Back the RoadsterThe “watchmaker of shapes” debuted the reworked version of the vintage sports car-inspired timepiece at Watches & Wonders.
IndependentsApr 16, 2026
Edge Retail Academy Updates Leadership TeamAs demand for jewelry retail coaching grows, the company has established a dedicated business coaching leadership team.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
MajorsApr 16, 2026
Stuller’s Latest Mountings Catalog Is Out NowThe “Mountings 2026-2027” catalog showcases Stuller’s largest and most diverse assortment to date with more than 400 new mounting styles.
PodcastsApr 15, 2026
Episode 4: The Natural Diamond DilemmaSally Morrison and Mark Klein discuss De Beers’ first beacon in 16 years and the mistake the industry made with lab-grown diamonds.
MajorsApr 15, 2026
Spark Creations’ Randy McKenzie Dies at 72 McKenzie spent 45 years with Spark Creations and is remembered for being kind, dedicated, and hardworking.
WatchesApr 15, 2026
These Are the New Rolex Watches for 2026Rolex focused exclusively on the Oyster Perpetual this year, as the model is celebrating its 100th anniversary.
SourcingApr 15, 2026
Diamond Club West Coast Names 2026 BoardKalpesh Jhaveri was re-elected as president for a third year.
TechnologyApr 15, 2026
This Jewelry Brand’s Video Series Is Up for a Webby Award“Diamond Divas,” a social media reality series by Shahla Karimi Jewelry, is nominated in the “Best Social: Fashion & Beauty” category.
SourcingApr 14, 2026
De Beers Expands ‘Desert Diamonds’ Beacon Into BridalThe campaign seeks to reignite desire for natural diamond engagement rings by highlighting the “distinct character” of warm-toned diamonds.
SourcingApr 14, 2026
International Jade Summit to Return to MontereyPresented by Mason-Kay Jade, the summit, in its second year, will again be held during the Monterey Bay Jade Festival.
Events & AwardsApr 14, 2026
CBG Releases Details for Las Vegas ShowThe group has announced its lineup of speakers and a new “Rising Stars” pavilion.
CollectionsApr 13, 2026
Uniform Object’s New Jewelry Collection Centers on the ‘Carbon Form’The “Carbon Form” collection explores the contrast between high and low materials, using rubber cord alongside 18-karat gold and gemstones.
Events & AwardsApr 13, 2026
JA Accepting 2026 Impact Initiative ApplicationsThe program provides essential funding to organizations for projects that enhance the jewelry industry.
Events & AwardsApr 13, 2026
Couture Announces New Show in MiamiThe jewelry trade show is launching its first open-to-the-public event in Coconut Grove this November.
CrimeApr 13, 2026
JSA Offers Reward in Oregon Jewelry Store Armed RobberyJSA is seeking information about the gunpoint robbery of a Kay Jewelers location in Oregon’s Washington Square Mall.
WatchesApr 10, 2026
These Watches Have Increased in Value the Most Since 2018, Says Chrono24The top-performing watch models may be surprising, with Rolex and several popular pandemic-era picks notably absent from the top 20.
CollectionsApr 10, 2026
Ophelia Eve’s Toggle Pendant Holds Your SecretsThe “Scroll” toggle pendant, our Piece of the Week, opens to reveal a hidden message, mantra, or love letter written on washi paper.
ColumnistsApr 09, 2026
Jewelry Demand Isn’t Stronger, Prices Are Just Higher Jewelers who misinterpret the state of the jewelry market risk employing the wrong retail strategy, cautions columnist Sherry Smith.
MajorsApr 09, 2026
Tiffany & Co. Promotes Nathalie Verdeille to SVP, Chief Artistic OfficerIn her newly expanded role, she will continue to oversee the jewelry category, as well as watches, home, and accessories.
WatchesApr 09, 2026
Jacob & Co. Rolls Out Its Sequel to ‘The Godfather’ Musical Watch“The Godfather II” watch plays two melodies from the mob film’s score, “The Godfather’s Waltz” and “The Godfather Love Theme.”
Events & AwardsApr 09, 2026
JCK Announces Jesse Itzler as 2026 Keynote SpeakerOrganizers have also introduced the new JCK Talks Signature Series, as well as an offering of watch-focused workshops and lectures.
