Financials

Pandora Posts Double-Digit Growth After Strong Holiday Season

FinancialsFeb 05, 2025

Pandora Posts Double-Digit Growth After Strong Holiday Season

In its full-year results, the retailer shared its 2025 outlook and an update on the global rollout of its lab-grown diamond collection.

Pandora sparkling bow necklace
A 14-karat gold-plated “Sparkling Bow” necklace set with cubic zirconia by Pandora ($225). The jewelry retailer posted strong results in 2024.
Copenhagen, Denmark—Pandora ended its fiscal year on a high note, reporting double-digit growth in its fourth quarter and for the full year following a strong holiday season.

The jewelry brand has been on a winning streak lately, with Q4 marking Pandora’s sixth consecutive quarter of double-digit organic revenue growth.

In its report on its full-year results, released Wednesday, the company shared details about what drove U.S. sales, its new e-commerce platform, and its plans for lab-grown diamonds.

Fourth-quarter revenue was up 11 percent year-over-year, organically and at actual exchange rates, to 11.97 billion Danish kroner ($1.67 billion), with 6 percent like-for-like (same-store sales) growth.

For the full year, revenue grew 13 percent, organically and at actual exchange rates, totaling 31.68 billion Danish kroner ($4.42 billion), with like-for-like sales up 7 percent.

“We are pleased with how we ended 2024, particularly given the challenging macroeconomic backdrop and a competitive holiday period. Execution of our Phoenix strategy continued to drive the brand forward throughout the entire year,” said Pandora CEO Alexander Lacik.

“In 2025, we target another year of solid and profitable growth and we have all actions lined up to continue the strong development.”

The company tested a new e-commerce platform in Q4 and is planning to roll it out globally through this year.

Its growth was driven mainly by online sales, it said, posting 20 percent revenue growth in Q4.

Pandora’s own stores continued to outperform its partner stores in Q4, with Pandora’s physical network delivering strong like-for-like sales.

Sales in the United States were up 13 percent at organic growth rates (16 percent at actual exchange rates) and up 14 percent for the full year (17 percent at actual exchange rates), with like-for-like sales up 8 and 9 percent, respectively.

The U.S. now accounts for 31 percent of Pandora’s revenue, up from 29 percent in 2023.

Pandora said the growth was driven by “solid execution around Black Friday and marketing investments, which are yielding good results.”

“Pandora benefited from strong execution across the holiday period which drove positive traffic, despite a highly promotional external environment and a tough comparison base, which was boosted last year by various social media activations,” said the company.

Pandora’s holiday campaign was an extension of its “Be Love” campaign, which debuted last year.

Brand ambassadors Pamela Anderson and sisters Chloe and Halle Bailey were featured in the campaign alongside models Agyness Deyn and Jocelyn Corona.

The campaign encouraged customers to think beyond traditional gifting, said Pandora, and to create moments of connection, thoughtfulness, and understanding while uniting people through the power of love.

 Related stories will be right here … 

Pandora said its lab-grown diamonds performed well, with sales up 12 percent year-over-year at actual exchange rates in Q4 and up 19 percent for the full year. 

Like-for-like sales grew 18 percent in Q4 and 43 percent for the full year.

Despite the sales growth, Pandora’s lab-grown diamond sales still only account for 1 percent of total revenue.

“Pandora continues to play a significant role in democratizing diamonds for consumers and has also seen a tangible positive halo effect on the brand from adding the collection to the portfolio,” said Pandora.

Though it expects to continue to see growth in the category, it said its global rollout of lab-grown diamonds will “proceed at a slower pace than originally anticipated.”

Pandora set a revenue target of 1 billion Danish kroner in the category by 2026 at its 2023 Capital Markets Day, but now doesn’t expect to hit this target until beyond 2026.

Its other jewelry collections posted strong growth as well.

Pandora’s core segment, which includes its “Moments” and “Me” collections, as well as its collaborations, saw sales up 7 percent at actual exchange rates in the quarter and for the year.

Its “fuel with more” segment, which includes its lab-grown diamond jewelry as well as its “Timeless” and “Signature” collections, saw sales grow 21 percent in the quarter and 32 percent for the year.

Pandora credited its strong organic growth in the U.S. to the momentum generated by new store openings over the past year.

In Q4, the company opened 54 concept stores and 62 Pandora-owned shop-in-shops.

For the full year, net openings totaled 137 concept stores, in line with its guidance of 125 to 150 openings. It opened 99 Pandora owned shop-in-shops, surpassing its guidance of 50 to 75.

Pandora operated 2,788 concept stores as of Q4, as well as 3,997 other points of sale, including 677 owned by Pandora.

Looking to the year ahead, Pandora is forecasting 7 to 8 percent organic growth with an EBIT margin near 25 percent.

Currently, Q1 is seeing high-single digit like-for-like growth, it said, boosted in part by strong end-of-season sales. 

Pandora is scheduled to report its interim first-quarter results on May 7.

The Latest

Jean-Christophe Bédos Birks
MajorsSep 02, 2025
Birks CEO Jean-Christophe Bédos Steps Down

Niccolò Rossi di Montelera, executive chairman of the board, was appointed as interim CEO.

Harry Winston Ginza Flagship Exterior, Interior
MajorsSep 02, 2025
Harry Winston Opens Its Largest Flagship in Japan

The three-floor space also features the jeweler’s largest VIP salon in Japan and offers an exclusive diamond pendant.

All Hours: Stephanie Gottlieb Fine Jewelry x Oak and Luna Campaign Imagery
CollectionsSep 02, 2025
Stephanie Gottlieb Debuts Silver Designs in ‘All Hours’ Collab

The collection is a collaboration between Stephanie Gottlieb Fine Jewelry and Oak and Luna, focusing on understated essentials.

japac-btyb.png
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key Issues

Jewelers of America is leading the charge to protect the industry amidst rising economic threats.

Sothebys The Desert Rose orangy pink diamond collectors week
AuctionsAug 29, 2025
Sotheby’s UAE Sale to Feature 32-Carat Fancy Vivid Orangy Pink Diamond

The highlight of a single-owner jewelry and watch collection, it’s estimated to fetch up to $7 million at auction this December.

Weekly QuizAug 29, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Mark Davis Bullseye Necklace
CollectionsAug 29, 2025
Piece of the Week: Mark Davis’ ‘Bullseye’ Necklace

The “Bullseye” necklace, with vintage bakelite and peridot, August’s birthstone, is the perfect transitional piece as summer turns to fall.

Image #1_Resized.png
Supplier BulletinAug 28, 2025
Clientbook Is Helping Jewelers Turn Clienteling Challenges into Wins with Hands-On Training and Coaching

Sponsored by Clientbook

rio-article photo-diamond.jpg
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine Jewelry

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

GIA’s new report for lab-grown diamonds
GradingAug 28, 2025
GIA’s New ‘Quality Assessment’ for Lab-Grown Diamonds Is Coming

It will classify lab-grown stones into one of two categories, “premium” or “standard,” in lieu of giving specific color and clarity grades.

Botswana President Duma Boko
SourcingAug 28, 2025
Botswana Declares Public Health Emergency Amid Diamond Sales Slump

President Duma Boko addressed the country’s medical supply chain crisis in a recent televised address.

Afton Robertson-Kanne Borsheims
MajorsAug 28, 2025
Borsheims Names New Jewelry Buyer

Former Free People buyer Afton Robertson-Kanne recently joined the retailer.

Sissy’s Log Cabin Back to School and Bling
IndependentsAug 28, 2025
Sissy’s Log Cabin Donates School Supplies to Memphis Students

The jeweler teamed up with two local organizations for its inaugural “Back to School and Bling” event.

Taylor Swift Engaged
EditorsAug 27, 2025
Taylor Swift’s Engagement Ring Is a Fairy Tale for Vintage Diamond Cuts

The singer’s new bling, reportedly a natural old mine-cut diamond, is no paper ring.

11,685-carat Imboo emerald
SourcingAug 27, 2025
11,685-Carat Emerald Recovered From Zambia’s Kagem Mine

Dubbed the “Imboo,” or “buffalo,” emerald, the rough gemstone is part of Gemfields’ latest emerald auction, which is taking place now.

Shopping cart
SurveysAug 27, 2025
Consumer Confidence Slips in August Amid Job, Income Worries

Plans for dining out, booking vacations, and buying big-ticket items were down.

Mine + Found Play Collection Prize Bubble Locket, Whistle Pendent, Fortune Dice
CollectionsAug 27, 2025
Mined + Found’s New Collection Gets Playful

The “Play” collection centers on nostalgic toys that have kinetic elements to carry playfulness and wonder into adulthood.

CCWW lifesaver necklace
CollectionsAug 26, 2025
Does Your Jewelry Stack Need a Snack?

Designer Christina Puchi, the creative force behind CCWW Designs, has created charms and pendants based on iconic candies and crackers.

Nick Jonas x Fossil Campaign
WatchesAug 26, 2025
Nick Jonas Gets Nostalgic in New Fossil Campaign

The Jonas Brothers star showed off new timepieces against the backdrop of his favorite spots in his home state of New Jersey.

Wally Hinkamp and Donna Hinkamp Warren
IndependentsAug 26, 2025
Hinkamp Jewelers Celebrates 70 Years

The family-owned jeweler in Fayetteville, North Carolina, is in the hands of the second generation.

Emmanuel Raheb
ColumnistsAug 26, 2025
Back to School, Back to Style: Why August is Prime Time for Self-Gifting

In his latest column, Emmanuel Raheb shares tips for encouraging customers to treat themselves to new jewelry.

London Jewelers Rolex East Hampton Boutique Exterior
WatchesAug 25, 2025
London Jewelers Brings Rolex to Historic Hamptons Home

The new stand-alone Rolex boutique is housed in the former Odd Fellows Hall, a landmark built in 1897.

Madison Keys
CollectionsAug 25, 2025
Tennis Star Madison Keys Has the Perfect Necklace for the US Open

The Brilliant Earth ambassador co-designed a diamond medallion featuring meaningful symbols.

Marie Lichtenberg emerald and diamond locket on the 18-karat gold “Rosa” chain
TrendsAug 25, 2025
Amanda’s Style File: That’s a Wrap

Wrap jewelry is more than just a trend; it’s the perfect motif for the coming season of layering, scarves, and pumpkin spice.

WatchTime New York
WatchesAug 25, 2025
WatchTime NY Show Returns for 10th Anniversary Edition

The three-day watch collector show, coming this October, will feature 44 exhibiting brands, as well as a new dinner experience.

Sriram “Ram” Natarajan
GradingAug 22, 2025
Former Head of GIA India Promoted to Oversee Global Operations

Sriram “Ram” Natarajan is now GIA’s senior vice president of laboratory operations and is based out of the lab’s headquarters in Carlsbad.

Retrouvaí Diamond Vein Bond Collar
CollectionsAug 22, 2025
Piece of the Week: Retrouvaí’s ‘Diamond Vein Bond’ Collar

The one-of-a-kind collar represents the beauty of imperfection and the strength to rebuild.

Kendra Scott
MajorsAug 22, 2025
Kendra Scott Returns as CEO of Her Jewelry Empire

Three C-suite executives, including former CEO Tom Nolan, have resigned as part of what the company describes as a “transition.”

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy