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.
MajorsAug 09, 2018
Pandora CEO Out After Company Cuts Forecast
Anders Colding Friis headed the company for less than four years.
Pandora CEO Anders Colding Friis will leave the company at the end of the month. His resignation comes less than a week after the company cut its earnings forecast for the year and announced layoffs.
Copenhagen, Denmark—Pandora CEO Anders Colding Friis is out after less than four years at the helm of the Danish bead and jewelry maker, which is grappling with lagging charm sales and rising production costs.
The announcement of his resignation came as the company reported weaker-than-expected results for the second quarter and just a few days after it cut its forecast for the year and announced plans to lay off a small percentage of its workforce, mainly in Thailand.
Friis joined the company in 2015 and was the one who outlined its four-year plan at Capital Markets Day in January, a plan that focuses on cutting production time to bring more new product to market quicker. He said the company’s assortments had become “too repetitive.”
On Thursday, the company said it remains “fully committed to this strategy” but will apparently do so with new leadership.
In addition to a new CEO, Pandora indicated that more changes could be on the way, as it looks to strengthen its management team and “reinforce” its board of directors with new appointees who have relevant retail experience.
Friis’ last day will be Aug. 31. On Sept. 1, the former CEO of The Body Shop, Jeremy Schwartz, will join Pandora as chief operating officer. He will run the company together with Chief Financial Officer Anders Boyers until a new CEO is found.
Pandora said Thursday that total second quarter sales were up 4 percent in local currency year-over-year to DKK 4.82 billion ($749.3 million) but like-for-like sales slipped 1 percent. In the United States, like-for-like sales were up 3 percent in the quarter.
EBITDA margin was 31.1 percent, compared with 33.4 percent in the second quarter 2017.
The Danish jewelry company saw sales growth from Pandora-owned stores (up 43 percent in local currency) and its online store (up 54 percent) but a reduction in orders from retailers that carry its merchandise hurt its overall performance.
Wholesale sales were down 23 percent year-over-year, impacted by both slower sales and stores reducing their Pandora inventory.
In addition, Pandora said while sales of other jewelry grew in the quarter, the new charms it introduced are “not fueling the re-ignition of charms revenue as anticipated.”
“Performance in other points of sale (wholesale) is challenged as the channel is mainly dependent on charms and does not distribute new concepts like Pandora Shine,” the company noted, referring to the all-gold
line introduced earlier this year.
Pandora said it now plans to open about net 250 concept stores this year, up from 200. Two-thirds of those (167) will be Pandora-owned stores.
One-quarter (63) of the 250 net new concept stores will open in the America market.
Pandora said it now plans to open about net 250 concept stores this year, up from 200. Two-thirds of those (167) will be Pandora-owned stores.
One-quarter (63) of the 250 net new concept stores will open in the America market.
The Latest
GradingApr 02, 2026
GIA Debuts New Campus in TaiwanIt is the only GIA school to offer the GIA Graduate Gemologist program in Chinese.
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.
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 01, 2026
Foundrae Sues Pandora for Allegedly Copying Its Medallion DesignsFoundrae also accused the jewelry giant of copying its mood board style of marketing.
Weekly QuizApr 02, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
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.
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.
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.
WatchesMar 26, 2026
Q&A: Citizen Watch America President Jeffrey Cohen on Eco-Drive’s 50th AnniversaryCohen discusses the evolution of Citizen’s light-powered technology, the brand’s cross-generational appeal, and tariffs.
IndependentsMar 26, 2026
Peter Smith Pens Book on Human Behavior in Sales“Essentially Human: On Sales and Salespeople" reveals the underlying human traits and behaviors of the most successful sales professionals.
CollectionsMar 26, 2026
Lionheart Celebrates 13 Years of ‘Cassandane’The collection features symbols of love, luck, and light, based on the story of Queen Cassandane and Cyrus the Great of Persia.
Events & AwardsMar 26, 2026
NAJA, Instappraise Introduce New ScholarshipIt’s the third scholarship to be launched as part of the partnership to help appraisers advance their professional credentials.
Events & AwardsMar 26, 2026
JA Still Accepting Entries for 2026 CASE AwardsThe deadline for entries in the jewelry design competition has been extended to April 3.
