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
Events & AwardsMar 17, 2026
The Best Moments From the 2026 Gem Awards Held just before the Oscars, the jewelry industry’s big awards show had its share of standout jewelry, gowns, and acceptance speeches.
SourcingMar 17, 2026
Cruzeiro Mine Debuts ‘Winter Tourmaline’The Brazilian mine’s new collection features cabochons in soft, muted shades like silver and lilac.
TrendsMar 17, 2026
Natalie Portman Is Tiffany & Co.’s New AmbassadorThe Academy Award-winning actress stars in Tiffany & Co.’s latest commercial, which debuted Sunday night during the Oscars.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
MajorsMar 17, 2026
Kering Establishes Jewelry Division, Appoints CEOThe organizational change follows Kering’s promise of a transformation after declining sales in 2025.
Weekly QuizMar 12, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsMar 16, 2026
2026 Oscars Jewelry: One Necklace After AnotherNatalie Francisco rounds up the top Oscars jewels, including Rose Byrne’s Taffin necklace with a more than 20-carat yellow-brown diamond.
WatchesMar 16, 2026
TAG Heuer Has a New CEOBéatrice Goasglas has been with TAG Heuer since 2018. She is the first woman to head the 166-year-old, LVMH-owned watch brand.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
IndependentsMar 16, 2026
Ben Bridge Debuts New Honolulu BoutiqueThe store features the first in-store build for the jeweler’s in-house “Bella Ponte” bridal brand.
AuctionsMar 16, 2026
Bonhams Paris To Offer Antique, Signed Jewels The live fine jewelry auction will take place later this week, showcasing antique pieces, rare gemstones, and signed jewels.
CollectionsMar 13, 2026
A Trio of Jewels from the 3 Gem Award Nominees for Jewelry DesignOur Pieces of the Week honor the 2026 nominees for the Gem Award for Jewelry Design, Silvia Furmanovich, Cece Fein-Hughes, and Catherine Sarr.
WatchesMar 13, 2026
Citizen, Vera Wang to Launch Watch CollectionThe 24-piece watch collection is set to debut in spring 2027.
SourcingMar 13, 2026
Andrea Pooler Joins Third-Generation Diamond Company as COO Pooler, who has more than 25 years’ experience in jewelry, is now chief operating officer of Modani Jewels, Soham Diamonds, and SNJ Creations.
MajorsMar 13, 2026
24 Karat Club of New York’s Banquet to Return to Waldorf AstoriaThe reopening of the Waldorf Astoria means a homecoming for the industry group’s annual event, which will take place Saturday.
CollectionsMar 12, 2026
Jessica McCormack Sends Gold, Gemstones Into ‘Orbit’McCormack looked to the 19th century’s “golden age” of astronomy when designing her new celestial-themed collection.
Events & AwardsMar 12, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on Friday.
TechnologyMar 12, 2026
Caratwise Launches, Names Former Signet Exec CEO The new smart design software allows jewelers to configure, price, and confirm a custom engagement ring in real time for in-store customers.
SourcingMar 12, 2026
Grandview Klein Opens New Factory in South Africa The 10,000-square-foot diamond manufacturing facility officially opened in late February and employs 50 people.
Events & AwardsMar 12, 2026
MJSA ‘Future of Jewelry Making’ Scholarship Applications OpenThe MJSA Education Foundation’s scholarships support students pursuing jewelry careers.
AuctionsMar 11, 2026
‘Spectacular’ 26-Carat Diamond Going Up for Auction in London The largest white diamond to come to market in the U.K. in more than a decade, the VVS1, I-color stone is expected to top $1 million.
TechnologyMar 11, 2026
Cast Jewelry’s Rachel Skelly on Coming Back Online Only Skelly shares her plans for reimagining the fine jewelry retailer she re-acquired after it faltered last year.
CollectionsMar 11, 2026
Pyrrha Highlights ‘The Space Between’ In New CollectionThe collection takes inspiration from the emotional space between people, moments, and experiences.
IndependentsMar 11, 2026
From the Jazz Age to the Information Age: London Jewelers Turns 100In 2026, the jewelry retailer is celebrating a milestone only a small percentage of family-owned businesses survive to see.
IndependentsMar 11, 2026
Virginia Jewelers Raise Nearly $30K for Children’s HospitalThe group of jewelers held a jewelry raffle in support of the Children’s Hospital of Richmond at VCU.
MajorsMar 10, 2026
Saks Global to Close 15 More StoresThe retailer also gave an update on its vendor partnerships.
TrendsMar 10, 2026
Messika Names Julianne Moore as AmbassadorThe award-winning actress is the “epitome of modern allure,” the brand said.
CollectionsMar 10, 2026
Gemstones ‘Bloom’ in Sorellina’s New CollectionThe “Bloom” collection draws from the flower power movement of the 1960s and ‘70s with inlay pendants offered in eight colorways.
