FinancialsJan 17, 2025
Richemont’s Jewelry Sales Rise 14% in Holiday QuarterFinancialsFeb 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.
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 …
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.
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.
More on Financials
The Latest
AuctionsApr 11, 2025
Piece of the Week: A Replica of Princess Grace’s Wedding EarringsThese earrings by Van Cleef & Arpels, featuring the same design as a pair worn by Princess Grace, are up for auction at Woolley & Wallis.
Recorded WebinarsApr 11, 2025
Watch: Top Tips for Saving Time With AITwo experts share how artificial intelligence tools can help retailers run a more efficient business.
SourcingApr 11, 2025
Mikimoto Names New President, CEO for U.S. DivisionKentaro Nishimura, who has been with the pearl company since 1997, has been promoted to president and CEO of Mikimoto America.
WatchesApr 11, 2025
Bulova Documentary Now on Amazon Prime“America Telling Time: 150 Years of Bulova” explores the storied history of the American watchmaker.
Weekly QuizApr 11, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Policies & IssuesApr 10, 2025
Trump Presses Pause on Higher Tariffs for 90 DaysAn across-the-board tariff of 10 percent remains in place for all U.S. trading partners, except China.
MajorsApr 10, 2025
Brilliant Earth Taps Influencers, Their Moms for Mother’s Day CampaignBrigette Pheloung and Tania Sarin, and their mothers, star in the campaign wearing medallions they co-designed.
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They DeserveBench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.
MajorsApr 10, 2025
Pary LeVian, Matriarch of the LeVian Family, Dies at 96LeVian is remembered for her unwavering commitment to her family, community, and helping others.
Events & AwardsApr 10, 2025
Hamptons Jewelry Show to Debut This SummerThe retail show is open to the public and will run July 24-27.
EditorsApr 09, 2025
Tariffs: What We Know Right Now Editor-in-Chief Michelle Graff answers questions about how the new taxes levied on countries like India and China will impact the industry.
MajorsApr 09, 2025
Tiffany & Co. Opens Flagship in BrazilThe new store in the upscale Iguatemi São Paulo mall is the storied brand’s first flagship in Brazil.
AuctionsApr 09, 2025
Bonhams to Offer Selection of Chaumet JewelsThe pieces span from the Art Deco period to the 1970s and will go up for auction at the Paris Jewels sale later this month.
MajorsApr 09, 2025
Pandora Names Tyla as Its New Brand AmbassadorThe Grammy-winning singer-songwriter, who is set to perform at Coachella this month, also debuted a curated selection from the brand.
GradingApr 08, 2025
GIA Expands Overseas Services as Tariffs Kick InGIA’s labs in Dubai and Hong Kong are now accepting larger diamonds in light of the “logistical challenges” presented by the new tariffs.
WatchesApr 08, 2025
Here Are the New Rolex Watches for 2025The introductions include the Land-Dweller, Rolex’s first new model since 2012, as well as several new dials for its classic timepieces.
MajorsApr 08, 2025
Willis Cowlishaw, Zale Executive and Mentor to Many, Dies at 98Cowlishaw earned a degree in horology after serving in World War II, working at one of the first Zales stores in Tulsa, Oklahoma.
AuctionsApr 07, 2025
182-Carat Paraíba-Type Tourmaline Heading to Auction in Hong KongBonhams will offer the “Kat Florence Lumina” at its May 22 jewelry auction.
CrimeApr 07, 2025
Third Man Involved in $2.7M Smash-and-Grab Is SentencedIn March 2022, the men went into a jewelry store in Beverly Hills and smashed the display cases with sledgehammers and crowbars.
AuctionsApr 07, 2025
Sotheby’s ‘Area_51’ Watch Auction Totals $1.6MThe 51 unique watches from Sotheby’s three-day sale and immersive exhibition all found buyers, with the top lot selling for $229,955.
MajorsApr 07, 2025
Jewelers Mutual Expands to Australia Via New AcquisitionThe company has acquired Australian jewelry insurance provider Jewellers Loop.
Events & AwardsApr 07, 2025
Converge Taps Neuroscientist as Opening Keynote SpeakerBeau Lotto’s immersive presentation will be a blend of neuroscience, art, and entertainment.
AuctionsApr 04, 2025
25-Carat Burmese Sapphire Brooch Sells for $101KA pink topaz Belle Époque pendant-brooch and a Victorian Egyptian Revival choker were also highlights at a recent Anderson & Garland sale.
SourcingApr 04, 2025
Mason-Kay Jade to Hold Inaugural International Jade SummitThe event, which will co-locate with the Monterey Bay Jade Festival, will bring education sessions focused on jade to the United States.
CollectionsApr 04, 2025
Piece of the Week: Heather B. Moore’s ‘Lily of the Valley’ CharmThe charm is a celebration of springtime as April showers bring May flowers with the piece’s cluster of diamond raindrops.
SurveysApr 03, 2025
2025 Retail Sales to Grow More Slowly Amid ‘Uncertainty,’ Says NRFThe National Retail Federation expects retail sales growth to return to pre-pandemic levels as consumers continue to face inflation.
