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
MajorsApr 03, 2026
Saks Global Says It Will Emerge From Bankruptcy This SummerThe luxury retailer, which went Chapter 11 in January, announced Thursday that it has secured $500 million in exit financing.
Events & AwardsApr 03, 2026
JCK Luxury, NouvelleBox Partner on New Designer BallroomThe NouvelleBox ballroom will feature independent jewelry designers, including Lene Vibe, Wyld Box Jewelry, and Kiaia Limited.
CollectionsApr 03, 2026
Buddha Mama Brings Its ‘Moon’ Locket To DallasThe one-of-a-kind locket, our Piece of the Week, opens to reveal three hidden images to keep close to your heart.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
MajorsApr 02, 2026
Pandora Opens New Canadian Distribution Center Amid Tariff ConcernsThe new facility was also designed to better serve its growing customer base in Canada.
Weekly QuizApr 02, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsApr 02, 2026
Michelle Yeoh Fronts New Mikimoto Campaign The campaign is a tribute to the year 1893, when Kokichi Mikimoto created the world’s first cultured pearl.
GradingApr 02, 2026
GIA Debuts New Campus in TaiwanIt is the only GIA school to offer the GIA Graduate Gemologist program in Chinese.
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.
MajorsApr 02, 2026
DCA Launches ‘Second Spark’ Workforce InitiativeThe initiative connects veterans and parents returning to the workforce with careers in jewelry retail.
MajorsApr 02, 2026
Hoover & Strong Names New National Sales RepresentativeThe wholesale manufacturer and precious metals refiner has appointed Michael Angelo as its new national sales representative.
MajorsApr 01, 2026
Foundrae Sues Pandora for Allegedly Copying Its Medallion DesignsFoundrae also accused the jewelry giant of copying its mood board style of marketing.
AuctionsApr 01, 2026
John Jacob Astor IV’s Titanic Pocket Watch Heads to AuctionA Patek Philippe for Tiffany & Co. timepiece owned by the American businessman who died on the Titanic will be offered at Freeman's Chicago.
SurveysApr 01, 2026
Consumers’ Outlook Improves Again in MarchThe Conference Board’s Consumer Confidence Index edged up, with optimism about the present outweighing worries about the future.
IndependentsApr 01, 2026
Zachary’s Jewelers’ Constance Polamalu to Release Children’s BookThe retailer’s Zach Bear gift comes to life in “Zach Bear and the Window Necklace,” which centers on curiosity, bravery, and helping.
Events & AwardsApr 01, 2026
AGA Opens 2026 Gemological Scholarship, Research Grant ApplicationsApplications are open for the AGA Gemological Scholarship Program through May 15, and until June 2027 for the Gemological Research Grant.
ColumnistsMar 31, 2026
Q1 Clues That Reveal Where Your Jewelry Store’s Sales Are Heading These customer behavior patterns say a lot about how successful your jewelry store is going to be this year, Emmanuel Raheb writes.
CollectionsMar 31, 2026
Mejuri Adds Silver to ‘Puzzle’ CollectionMejuri’s popular collection of 18-karat yellow gold vermeil rings debuted in sterling silver alongside new “Puzzle” slider charms.
CollectionsMar 31, 2026
Buddha Mama, Ashley Longshore to Host Pop-Up in DallasThe Miami-based jewelry brand and the NYC-based artist will be in Dallas from April 9-11.
SourcingMar 31, 2026
NDC Designates April 8 as 'World Diamond Day'The initiative invites those in the industry to share stories on social media highlighting the meaning and impact of natural diamonds.
SourcingMar 31, 2026
GIA VP Jillian Wolk to Take Over at Tracr Wolk’s first day on the job as CEO of Tracr, De Beers Group’s blockchain platform, will be May 1.
EditorsMar 30, 2026
Tom Moses Looks Back on His Decades at GIA Moses, who will leave the lab in May after nearly 50 years, discusses his start in the business, gemstones that stand out, and what’s next.
TrendsMar 30, 2026
Oscar Heyman Debuts First Spring CatalogThe new catalog, which showcases 35 one-of-a-kind pieces of jewelry, is a compliment to the company’s popular holiday catalog.
SourcingMar 30, 2026
Rio Tinto Hauls Last Load from DiavikProduction has ceased at the Canadian diamond mine, which has yielded more than 150 million carats of rough diamonds in its 23-year run.
MajorsMar 30, 2026
Tanishq Opens First New England LocationThe store opening marks the 10th United States location for the India-based jewelry retailer.
MajorsMar 27, 2026
Saks Global Has Changed Its Mind About Closing These 3 StoresTwo Saks Fifth Avenue locations, one in Florida and one in California, and one Neiman Marcus store are off the chopping block.
IndependentsMar 27, 2026
Jimmy West, Longtime LJG Executive Director, Dies at 72West, who started in the art department at the Leading Jewelers Guild in 1979, is remembered for his patience, kindness, and dedication.
CollectionsMar 27, 2026
Itä’s ‘Yarí Whirl’ Ring Tells Every Side of the StoryIn the “Tesoro” version of the ring, our Piece of the Week, each side of the gold hexagonal nugget has a unique colored gemstone design.
