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.

Lenore Fedow lenore.fedow@nationaljeweler.com

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.