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

The Story of Everything Campaign, Toadstool Mushroom and Cosmic Egg
CollectionsJun 30, 2025
State Property’s New Jewelry Tells ‘The Story of Everything’

Co-founders Afzal Imram and Lin Ruiyin brought their son’s story of a cosmic egg, toadstool, and railroad to life in their new collection.

Smart Age Solutions CEO Emmanuel Raheb
ColumnistsJun 30, 2025
The Smart Lab: Why Q3 Is the Secret Weapon For Holiday Jewelry Sales

The best time to prepare for the holiday season is right now, according to columnist Emmanuel Raheb.

Morgan Keefe
Events & AwardsJun 30, 2025
AGA Names Recipient of 2025 Gemological Education Scholarship

This year’s winner is Morgan Keefe, who is currently studying at GIA to be a gemologist.

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 Jewelry Book
IndependentsJun 30, 2025
Melanie Grant’s New Book Explores 200 Years of Jewelry

“The Jewelry Book” comes out this September.

Weekly QuizJun 26, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Gemist
TechnologyJun 27, 2025
Gemist Raises $6M in Funding to Scale Jewelry Tech Platform

The company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.

Jeff Preolo, David Stout, Levi Higgs, David Benavides
IndependentsJun 27, 2025
David Webb Announces New Hires, Promotions

Following its recent acquisition, the storied brand has updated its leadership team and regional managers.

Jewelers of America logo with meetup, State of the Majors, giveaway and massages
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025

The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.

Blake Graham and Jessica Kohoutek
Events & AwardsJun 27, 2025
AGS, GIA Announce Beatrice Shipley Scholarship Winner

AGS also named the recipient of its “Women in Leadership” scholarship.

Buddha Mama Monstera Ring
CollectionsJun 27, 2025
Piece of the Week: Buddha Mama’s ‘Monstera’ Wrap Ring

The 20-karat yellow gold and diamond wrap ring is modeled after the Monstera plants in the garden of the brand’s Miami villa.

Cashier handing Rocksbox bag to customer
MajorsJun 26, 2025
Why Rocksbox Is Opening Stores As Signet Jewelers Downsizes

Rocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.

Penny Ruston
IndependentsJun 26, 2025
Penny Ruston Dies at 80

The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.

Stock image of woman shopping
SurveysJun 26, 2025
After Recovering in May, Consumer Confidence Dips in June

The decline was consistent across age groups and almost all income groups, with tariffs and inflation still top of mind.

Sorellina Playlist: Electric Dreams Campaign
CollectionsJun 26, 2025
Jam Out With Sorellina’s Jimi Hendrix-Inspired Jewels

The “Playlist: Electric Dreams” collection brings lyrics from the musician’s song, “Little Wing,” to life through fine jewelry.

The Jewelry Symposium event
Events & AwardsJun 26, 2025
The Jewelry Symposium Is Looking for Speakers for 2026 Event

The event is set for May 16-19 in Detroit, Michigan.

Exterior of Marissa Collections’ new store in Nantucket, Massachusetts
IndependentsJun 25, 2025
Marissa Collections Opens in Nantucket as Legal Fight Continues

The Vault’s Katherine Jetter is accusing the retailer of using info she shared for a potential partnership to move into Nantucket.

Counterfeit Cartier “Juste Un Clou” bracelet
CrimeJun 25, 2025
Customs Nabs Another Big Shipment of Fake Cartier, Van Cleef Jewelry

Agents seized 2,193 pieces, a mix of counterfeit Cartier “Love” and “Juste Un Clou” bracelets, and Van Cleef & Arpels’ “Alhambra” design.

Karine Choudhrie Big Splash Circus Starfish and Lantern Fish
CollectionsJun 25, 2025
Splash into Karina Choudhrie’s Collection of Underwater Circus Performers

The designer brought her children’s book, “The Big Splash Circus,” to life through a collection of playful fine jewelry characters.

Jewelers of America
Events & AwardsJun 25, 2025
JA Announces Impact Initiative Fund Recipients

The trade association has chosen the recipients of the funding initiative it formed to foster the growth and sustainability of the industry.

John Dyer Montana Sun Sapphire
SourcingJun 25, 2025
2025 AGTA Spectrum Awards Open for Entries

The organization has also announced this year’s slate of judges.

Khepri Jewels Luna collection fancy color fringe multi-shape drop diamond earrings
EditorsJun 24, 2025
The Best New Jewelry from Couture 2025, Part 2

Associate Editor Natalie Francisco shares 20 additional pieces that stood out to her at the Couture show.

Lori Tucker
IndependentsJun 24, 2025
Colorado Bench Jeweler Celebrates 50 Years With Local Retailer

Lori Tucker started at Williams Jewelers when she was 18 years old.

“Marvel | Citizen Zenshin” watch for the new The Fantastic Four movie
WatchesJun 24, 2025
Citizen’s New ‘Fantastic Four’ Watch Is Literally Super

The “Marvel | Citizen Zenshin” watch is crafted in Super Titanium and has subtle nods to all four “Fantastic Four” superheroes on the dial.

XO Tacori diamond ring
MajorsJun 24, 2025
Tacori, QVC to Launch Exclusive Lab-Grown Diamond Jewelry Collection

The “XO Tacori” collection was designed to blend luxury and accessible pricing.

Pritesh Patel
GradingJun 23, 2025
GIA Names New President and CEO

Pritesh Patel, the lab’s chief operating officer, will take over as president and CEO of GIA.

Graphic for Las Vegas recap episode of “My Next Question”
Recorded WebinarsJun 23, 2025
Watch: Top Trends at Couture, JCK Las Vegas 2025

National Jeweler and Jewelers of America discuss the standout jewelry trends and biggest news to emerge from the shows this year.

Luanda Accord
SourcingJun 23, 2025
Diamond Producers, Organizations to Kick in Money to Promote Natural Diamonds

Signatories to the “Luanda Accord” committed to allocating 1 percent of annual diamond revenue to the Natural Diamond Council.

×

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