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

Jeweler setting a diamond into a ring
MajorsJul 21, 2025
Rio Grande Expands Personalization Offerings

As demand for custom jewelry grows, the company is expanding its services to support retailers.

National Associate of Jewelry Appraisers Logo
Events & AwardsJul 21, 2025
NAJA’s 2025 ‘Ace It’ Conference To Go Virtual

The mid-year conference for jewelry and watch appraisers is slated for Aug. 9 to 10 on Zoom.

Jacquie Aiche graduated turquoise beaded necklace
TrendsJul 21, 2025
Amanda’s Style File: Graduated With Honors

Graduated stones make for elevated tennis-style pieces and dramatic statement necklaces.

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.

24th Gem Awards Show Logo
Events & AwardsJul 21, 2025
Gem Awards Now Accepting Nominations for 2026

Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.

Weekly QuizJul 17, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Lewis Heyman
MajorsJul 18, 2025
Lewis Heyman on Sourcing Gemstones, Post-Retirement Plans

He retired last month after 28 years traveling the world to source the very best gemstones for his family’s jewelry business, Oscar Heyman.

CCWW Designs Multiple Shell Charm Necklace
TrendsJul 18, 2025
Piece of the Week: CCWW Designs’ Shell Charm Necklace

The charm necklace features six nautical charms of shells and coral that founder Christina Puchi collected on Florida’s beaches.

an instructor and a student in a bench jewelry classroom
Brought to you by
Investing in the Next Generation of Bench Jewelers

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

The Plumb Club board members
MajorsJul 18, 2025
Plumb Club Elects New Board Members

The organization elected its youngest vice president as it looks to draw in fresh talent.

Jewelry industry veterans Brad Campbell and John Liebler
TechnologyJul 18, 2025
Brad Campbell, John Liebler Join Clientbook’s Executive Team

Campbell joins the company as vice president of business development while Liebler is the new vice president of operations.

Silver, Gold, and Bronze Medals for Italy Olympic Winter Games
CollectionsJul 17, 2025
2026 Winter Olympic Medal Design Symbolizes Unity

The medals feature a split-texture design highlighting the Games’ first time being hosted by two cities and the athletes’ journeys.

vimeo screenshot.png
Supplier BulletinJul 17, 2025
The INSTORE Jewelry Show 2025: Your Holiday Preparations, All Wrapped Up!

Sponsored by The INSTORE Jewelry Show 2025

Guinness
SurveysJul 17, 2025
The Most Recommended Brands in the World, According to YouGov

Globally, travel and transportation brands reigned, while in the U.S., alcoholic beverage companies and a lingerie brand took the top spots.

Gina Ferranti
IndependentsJul 17, 2025
Gina Ferranti of GiGi Ferranti Jewelry Dies at 59

The Brooklyn-based jewelry designer is remembered as a true artist and a rare talent.

Rio Tinto Chief Executive Simon Trott
SourcingJul 17, 2025
Rio Tinto Names New CEO, Production Rises at Diavik

Production at the mine in Canada’s Northwest Territories topped 1 million carats in Q2, the third consecutive quarter of growth.

Jewelers of America Learning Workship Logo
Events & AwardsJul 17, 2025
JA to Hold Learning Workshops This Fall

A new slate of Learning Workshops will take place in Oklahoma, Mississippi, and Georgia.

Gold bracelets and bangles
SurveysJul 16, 2025
Signet Jewelers Falls Lower on NRF’s ‘Top 100’ Retailers List

The middle class is changing its approach to buying jewelry and affordable luxury goods, the NRF said.

Rolex Datejust ref. 16233
WatchesJul 16, 2025
The Top-Selling Rolex Models of the Last 15 Years, According to Bob’s Watches

The reseller’s market trends report, based on its sales data, also shows exactly how much Rolex prices have jumped since 2010.

Jean Dinh Van Orgue Ring
AuctionsJul 16, 2025
Christie’s To Honor Dinh Van With Exhibition

The auction house will be hosting a retrospective paying tribute to jeweler Jean Dinh Van and his company’s 60th anniversary.

Jake Duneier and Danielle Duneier
IndependentsJul 16, 2025
Clyde Duneier Ushers In Fourth Generation

Jake Duneier and Danielle Duneier-Goldberg have stepped into the roles of CEO and president, respectively.

Boucheron Impermanence Boucheron Dragonfly Earrings and Wisteria Hair Piece
CollectionsJul 15, 2025
Boucheron’s New High Jewelry Calls Attention to Nature’s Impermanence

The “Impermanence” collection contemplates nature through the Japanese art of Ikebana (flower arranging) and philosophy of wabi-sabi.

James Avery Cedar Park
MajorsJul 15, 2025
James Avery Expands to 2 More States

The Texas-based jewelry retailer has set up shop in Tennessee and Arizona.

Eric Ford, Couture’s new brand director and former fine jewelry buyer at Neiman Marcus
Events & AwardsJul 15, 2025
Neiman Marcus Vet Joins Couture as Brand Director

Eric Ford will step into the role, bringing with him decades of experience.

Bench jeweler holding a ring and a tool
MajorsJul 15, 2025
Ben Bridge Jeweler Acquires Olympic Manufacturing

In addition to improved capabilities, the acquisition will allow the jeweler to offer support to other independent jewelers.

Guzema Celestial Blue
CollectionsJul 15, 2025
Guzema Debuts First Colored Gemstone Jewelry

The “Celestial Blue” capsule collection campaign features Olympian Kateryna Sadurska.

Nanis Mykonos Store Exterior and Interior
MajorsJul 14, 2025
Nanis Opens First Store

The seasonal store, located in Mykonos, Greece, offers exclusive events, personal styling, and curated experiences.

Long’s Jewelers Summer of Love promo
IndependentsJul 14, 2025
It’s the Summer of Love at Long’s Jewelers

The New England jeweler is hosting a bridal event for the month of August.

×

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