EditorsNov 07, 2025
Piece of the Week: An MVP’s Sapphire Tennis Necklace At the 2025 World Series, the Los Angeles Dodgers’ Yoshinobu Yamamoto sported a custom necklace made by California retailer Happy Jewelers.
FinancialsFeb 07, 2017
Pandora Cut No. of Multi-Branded Retailers by 32% in 2016
In the Americas, the network shrunk by more than 50 percent, including 200 Jared stores that were converted into shop-in-shops.
Copenhagen, Denmark--Pandora saw global revenue rise 21 percent in 2016 as it continued to open more concept stores and shop-in-shops while closing accounts at multi-branded retailers.
The Danish bead and jewelry brand reported Tuesday that revenue in the Americas was up 5 percent, from $937.8 million to $983.0 million.
Sales in the United States were up 5 percent to $740.4 million, accounting for one-quarter of Pandora’s total global revenue.
During the year, Pandora opened net 27 new concept stores in the U.S., bringing the total in the market to 346. It closed accounts at 829 multi-branded retailers, including the more than 200 Jared the Galleria of jewelry stores that were converted into shop-in-shops.
Looking at the U.S., Latin America and Canada (the Americas), the number of branded stores--meaning concept stores and shop-in-shops--grew 26 percent to 1,484 in 2016.
The number of multi-branded points of sale, meanwhile, shrunk by 53 percent from 1,888 in 2015 to 881 by the end of 2016.
Globally, Pandora reported that its 2016 revenue totaled $2.92 billion, up from $2.40 billion in 2015.
Earnings before interest, tax, depreciation and amortization (EBITDA) was $1.13 billion, a 27 percent increase. EBITDA margin for the year was 39.1 percent compared with 37.1 percent in 2015.
Pandora attributed the growth to the opening of net 336 concept stores--or, almost one a day--noting that, “Together with the closing of multi-branded stores, this gave us a stronger and much more branded store network compared with the beginning of the year.”
The openings brought the company’s global total to 2,138 concept stores in addition to 2,027 shop-in-shops and 17 online stores worldwide. Pandora said its best-performing store in terms of sales was the Pitt Street store in Sydney, Australia.
Meanwhile, the number of multi-branded retailers that sell Pandora was cut by 1,829, dropping from 5,795 in 2015 to 3,966 by the end of 2016. Multi-branded retailers declined from generating 18 percent of global revenue in 2015 to 14 percent in 2016.
Pandora noted that while multi-branded stores have “historically been an important part of (its) strategy, especially in new and expanding markets,” their numbers will “naturally decrease” as it opens more concept stores and shop-in-shops.
In 2017, Pandora is entering the Indian market through a partnership with Pan India Charms & Jewellery Pvt. Ltd, as previously announced.
The company said it expects global revenues of $3.3-$3.45 billion in 2017, an increase of 13 to 18 percent, with revenue
split equally between new and existing stores.
More on Financials
The Latest
IndependentsNov 07, 2025
Foundrae’s New Palm Beach Location Is a ‘Golden Solarium’The brand’s seventh location combines Foundrae’s symbolic vocabulary with motifs from Florida’s natural surroundings.
SourcingNov 06, 2025
Pink Tourmaline Bracelet, Emerald Suite Take Top Spectrum Honors Pink and purple stones were popular in the AGTA’s design competition this year, as were cameos and ocean themes.
Brought to you by
Jewelers of America Aligns New Mission to Create Meaningful Impact for MembersFrom educational programs, advocacy, and recent MJSA affiliation, Jewelers of America drives progress that elevates businesses of all sizes.
IndependentsNov 06, 2025
Greenwich St. Jewelers Hosts Raffle Supporting Food RescueAll proceeds from the G. St x Jewel Boxing raffle will go to City Harvest, which works to end hunger in New York City.
Weekly QuizNov 06, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsNov 06, 2025
Cornell’s Jewelers Names New PresidentCourtney Cornell is part of the third generation to lead the Rochester, New York-based jeweler.
SourcingNov 06, 2025
De Beers’ Production, Sales Increase in Q3 De Beers also announced more changes in its upper ranks ahead of parent company Anglo American’s pending sale of the company.
WatchesNov 05, 2025
Shinola President Steps Down Just as He Starts Former Signet CEO Mark Light will remain president of Shinola until a replacement for Ulrich Wohn is found.
AuctionsNov 05, 2025
Taylor Swift’s Engagement Ring Designer Makes Her Auction DebutKindred Lubeck of Artifex has three rings she designed with Anup Jogani in Sotheby’s upcoming Gem Drop sale.
FinancialsNov 05, 2025
Brilliant Earth’s Q3 Sales Climb 10%The jewelry retailer raised its full-year guidance, with CFO Jeff Kuo describing the company as “very well positioned” for the holidays.
Policies & IssuesNov 04, 2025
Supreme Court to Hear Tariffs Case WednesdayAhead of the hearing, two industry organizations co-signed an amicus brief urging the court to declare Trump’s tariffs unlawful.
MajorsNov 04, 2025
Danny Clark to Become Stuller CEO, Succeeding Matt StullerStuller COO Belit Myers will take on the additional role of president, with all changes effective at the start of 2026.
ColumnistsNov 04, 2025
Peter Smith: What Do Birds Have to Do With the Price of Gold? Smith cautions retailers against expending too much energy on things they can’t control, like the rising price of gold.
TrendsNov 04, 2025
Amanda’s Style File: Fall Colors for November BirthdaysCitrine and topaz are birthstones fit for fall as the leaves change color and the holiday season approaches.
IndependentsNov 04, 2025
Weston Jewelers Heads to Fort LauderdaleThe family-owned jeweler will open its fourth store in Florida in late 2027.
CrimeNov 03, 2025
Men Dressed as Construction Workers Burglarize Jeweler’s Home The NYPD is looking for three men who stole a safe and jewelry valued at $3.2 million from the home of a jeweler in Jamaica Hills, Queens.
MajorsNov 03, 2025
Matthew Rosenheim Takes Over as JA Board ChairThe trade organization also announced its executive committee and five new directors.
CollectionsNov 03, 2025
Muse’s ‘Have a Heart’ Collab Returns, Now With DDGThe “Have a Heart x Diamonds Do Good” collection is championed by model and humanitarian Flaviana Matata and will benefit her foundation.
AuctionsNov 03, 2025
Kashmir Sapphire Ring Tops Christie's Online AuctionThe ring, set with a nearly 17-carat Kashmir cabochon sapphire, sold for $1 million.
TrendsOct 31, 2025
Piece of the Week: A Spinner Fit for ‘Frankenstein’This “Mother Father” spinner necklace from Heavenly Vices Fine Jewelry draws inspiration from Victorian Era jewelry.
CrimeOct 31, 2025
5 More Arrested in Louvre Heist, Jewelry Still Missing The suspects were rounded up in Paris and its suburbs on Wednesday night, but none of the stolen jewels were recovered with them.
Recorded WebinarsOct 31, 2025
Watch: How to Master Google Reviews for Your BusinessExperts share top tips on how to encourage positive reviews and handle negative feedback.
Supplier BulletinOct 30, 2025
Protect Your Customers and Your BusinessSponsored by the Gemological Institute of America
CrimeOct 30, 2025
29-Year-Old Man Charged in Multiple Seattle-Area Smash and Grabs The suspect faces charges in the August robbery of Menashe & Sons Jewelers and is accused of committing smash and grabs at two pawn shops.
Lab-GrownOct 30, 2025
Alison Lou’s New Collection Uses Lab-Grown Diamonds and ResinThe “Lumière Fine” collection was born from designer Alison Chemla’s interest in the transformative power of light.
TrendsOct 30, 2025
Amanda’s Style File: A Haunted HalloweenShow off your spooky side with these 12 festive jewels.
