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
CollectionsJun 30, 2025
State Property’s New Jewelry Tells ‘The Story of Everything’Co-founders Afzal Imram and Lin Ruiyin brought their son’s story of a cosmic egg, toadstool, and railroad to life in their new collection.
ColumnistsJun 30, 2025
The Smart Lab: Why Q3 Is the Secret Weapon For Holiday Jewelry SalesThe best time to prepare for the holiday season is right now, according to columnist Emmanuel Raheb.
Events & AwardsJun 30, 2025
AGA Names Recipient of 2025 Gemological Education ScholarshipThis year’s winner is Morgan Keefe, who is currently studying at GIA to be a gemologist.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
IndependentsJun 30, 2025
Melanie Grant’s New Book Explores 200 Years of Jewelry“The Jewelry Book” comes out this September.
Weekly QuizJun 26, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TechnologyJun 27, 2025
Gemist Raises $6M in Funding to Scale Jewelry Tech PlatformThe company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.
IndependentsJun 27, 2025
David Webb Announces New Hires, PromotionsFollowing its recent acquisition, the storied brand has updated its leadership team and regional managers.
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
Events & AwardsJun 27, 2025
AGS, GIA Announce Beatrice Shipley Scholarship Winner AGS also named the recipient of its “Women in Leadership” scholarship.
CollectionsJun 27, 2025
Piece of the Week: Buddha Mama’s ‘Monstera’ Wrap RingThe 20-karat yellow gold and diamond wrap ring is modeled after the Monstera plants in the garden of the brand’s Miami villa.
MajorsJun 26, 2025
Why Rocksbox Is Opening Stores As Signet Jewelers DownsizesRocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.
IndependentsJun 26, 2025
Penny Ruston Dies at 80 The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.
SurveysJun 26, 2025
After Recovering in May, Consumer Confidence Dips in June The decline was consistent across age groups and almost all income groups, with tariffs and inflation still top of mind.
CollectionsJun 26, 2025
Jam Out With Sorellina’s Jimi Hendrix-Inspired JewelsThe “Playlist: Electric Dreams” collection brings lyrics from the musician’s song, “Little Wing,” to life through fine jewelry.
Events & AwardsJun 26, 2025
The Jewelry Symposium Is Looking for Speakers for 2026 EventThe event is set for May 16-19 in Detroit, Michigan.
IndependentsJun 25, 2025
Marissa Collections Opens in Nantucket as Legal Fight ContinuesThe Vault’s Katherine Jetter is accusing the retailer of using info she shared for a potential partnership to move into Nantucket.
CrimeJun 25, 2025
Customs Nabs Another Big Shipment of Fake Cartier, Van Cleef JewelryAgents seized 2,193 pieces, a mix of counterfeit Cartier “Love” and “Juste Un Clou” bracelets, and Van Cleef & Arpels’ “Alhambra” design.
CollectionsJun 25, 2025
Splash into Karina Choudhrie’s Collection of Underwater Circus PerformersThe designer brought her children’s book, “The Big Splash Circus,” to life through a collection of playful fine jewelry characters.
Events & AwardsJun 25, 2025
JA Announces Impact Initiative Fund RecipientsThe trade association has chosen the recipients of the funding initiative it formed to foster the growth and sustainability of the industry.
SourcingJun 25, 2025
2025 AGTA Spectrum Awards Open for EntriesThe organization has also announced this year’s slate of judges.
EditorsJun 24, 2025
The Best New Jewelry from Couture 2025, Part 2Associate Editor Natalie Francisco shares 20 additional pieces that stood out to her at the Couture show.
IndependentsJun 24, 2025
Colorado Bench Jeweler Celebrates 50 Years With Local RetailerLori Tucker started at Williams Jewelers when she was 18 years old.
WatchesJun 24, 2025
Citizen’s New ‘Fantastic Four’ Watch Is Literally Super The “Marvel | Citizen Zenshin” watch is crafted in Super Titanium and has subtle nods to all four “Fantastic Four” superheroes on the dial.
MajorsJun 24, 2025
Tacori, QVC to Launch Exclusive Lab-Grown Diamond Jewelry CollectionThe “XO Tacori” collection was designed to blend luxury and accessible pricing.
GradingJun 23, 2025
GIA Names New President and CEO Pritesh Patel, the lab’s chief operating officer, will take over as president and CEO of GIA.
Recorded WebinarsJun 23, 2025
Watch: Top Trends at Couture, JCK Las Vegas 2025National Jeweler and Jewelers of America discuss the standout jewelry trends and biggest news to emerge from the shows this year.
SourcingJun 23, 2025
Diamond Producers, Organizations to Kick in Money to Promote Natural DiamondsSignatories to the “Luanda Accord” committed to allocating 1 percent of annual diamond revenue to the Natural Diamond Council.
