AuctionsAug 29, 2025
Sotheby’s UAE Sale to Feature 32-Carat Fancy Vivid Orangy Pink DiamondThe highlight of a single-owner jewelry and watch collection, it’s estimated to fetch up to $7 million at auction this December.
FinancialsFeb 07, 2019
Pandora to Buy Back Inventory, Cut Size of Sell-In Package
It’s part of the beleaguered bead brand’s effort to turn the company around.
Pandora is in the midst of a two-year turnaround plan that aims to “Reignite a Passion for Pandora” and includes the introduction of additional new product, like the “Reflextions” bracelet with clip-on charms that came out in November 2018.
Copenhagen, Denmark—Buying back inventory from wholesale partners and cutting back on both promotions and the size of sell-in packages are a few of the pieces of Pandora’s two-year turnaround plan.
Called Programme NOW and initially introduced in November, the plan’s next steps were outlined in detail Tuesday as Pandora also laid out what ails the company.
The list of problems detailed likely will not surprise any jeweler who carries—or carried—the bead brand.
Pandora acknowledged that it has high brand awareness but no real identity.
Consumers are no longer excited by its beads, which it said are the “backbone” of the company.
That, in turn, has forced it to hold more sales to get rid of product that’s not moving—training consumers to never buy at full price—and left stores with a “cluttered assortment presentation” and a “build-up of inventory,” Pandora said.
In 2019, the Copenhagen-based company said it will cut back on the number of promotions between major gift-giving holidays and initiate an inventory buyback program in selected markets.
Though details on the buyback program are still being worked out, a Pandora spokesman told National Jeweler that the United States would be among those “selected markets” but the inventory “cleanup” will not be nearly as large as the buyback conducted in 2011-2012.
“It is also certain,” he noted, “that we will rely on our partners to jointly solve the challenge … As always, the U.S. will continue to do a garden cleaning in the spring as they have always done. Additional garden cleaning will be determined based on stock levels at a later date.”
Pandora also will reduce the price of its sell-in packages for retailers by 20 to 30 percent on average.
The plans announced earlier this week followed the November news that Pandora will pull back on concept store openings and stop buying back franchises from retailers.
In an interview published Feb. 1, Sid Keswani, the new head of the Americas for Pandora, told JCKOnline.com that the company considers its franchisees to be its “strong partners,” an apparent shift in strategy for a company once intent on cutting out retailers and running as much of its global store network as possible.
Also planned for 2019 are a rebranding, new advertising campaign, another new bracelet following the fall 2018 introduction of “Reflextions,” creation of an online bracelet builder and the debut of a new store concept.
Editors' Picks
Sponsored by
Details on the next steps in Pandora’s turnaround plan were released alongside 2018 results COO Jeremy Schwartz,who is running the company alongside CFO Anders Boyers until a new CEO is found, termed “disappointing.”
The bead and jewelry brand saw worldwide like-for-like sales slip 4 percent year-over-year, including a 7 percent drop in the fourth quarter.
Total sales hit DKK 22.8 billion ($3.47 billion), up 3 percent year-over-year.
In the U.S., which is Pandora’s largest market, like-for-like sales were flat while total sales declined 5 percent to DKK 4.88 billion ($743.2 million).
New concept stores—Pandora opened 67 in the U.S. last year—and online sales drove revenue, while physical stores continued to struggle and jewelers who carry Pandora either cut back on their inventory or dropped the brand entirely.
The Copenhagen-based company forecasts a revenue decline of 3 to 7 percent for 2019.
More on Financials
The Latest
CollectionsAug 29, 2025
Piece of the Week: Mark Davis’ ‘Bullseye’ Necklace The “Bullseye” necklace, with vintage bakelite and peridot, August’s birthstone, is the perfect transitional piece as summer turns to fall.
Supplier BulletinAug 28, 2025
Clientbook Is Helping Jewelers Turn Clienteling Challenges into Wins with Hands-On Training and CoachingSponsored by Clientbook
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key IssuesJewelers of America is leading the charge to protect the industry amidst rising economic threats.
GradingAug 28, 2025
GIA’s New ‘Quality Assessment’ for Lab-Grown Diamonds Is Coming It will classify lab-grown stones into one of two categories, “premium” or “standard,” in lieu of giving specific color and clarity grades.
Weekly QuizAug 29, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingAug 28, 2025
Botswana Declares Public Health Emergency Amid Diamond Sales SlumpPresident Duma Boko addressed the country’s medical supply chain crisis in a recent televised address.
MajorsAug 28, 2025
Borsheims Names New Jewelry BuyerFormer Free People buyer Afton Robertson-Kanne recently joined the retailer.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
IndependentsAug 28, 2025
Sissy’s Log Cabin Donates School Supplies to Memphis StudentsThe jeweler teamed up with two local organizations for its inaugural “Back to School and Bling” event.
EditorsAug 27, 2025
Taylor Swift’s Engagement Ring Is a Fairy Tale for Vintage Diamond CutsThe singer’s new bling, reportedly a natural old mine-cut diamond, is no paper ring.
SourcingAug 27, 2025
11,685-Carat Emerald Recovered From Zambia’s Kagem MineDubbed the “Imboo,” or “buffalo,” emerald, the rough gemstone is part of Gemfields’ latest emerald auction, which is taking place now.
SurveysAug 27, 2025
Consumer Confidence Slips in August Amid Job, Income WorriesPlans for dining out, booking vacations, and buying big-ticket items were down.
CollectionsAug 27, 2025
Mined + Found’s New Collection Gets Playful The “Play” collection centers on nostalgic toys that have kinetic elements to carry playfulness and wonder into adulthood.
CollectionsAug 26, 2025
Does Your Jewelry Stack Need a Snack?Designer Christina Puchi, the creative force behind CCWW Designs, has created charms and pendants based on iconic candies and crackers.
WatchesAug 26, 2025
Nick Jonas Gets Nostalgic in New Fossil CampaignThe Jonas Brothers star showed off new timepieces against the backdrop of his favorite spots in his home state of New Jersey.
IndependentsAug 26, 2025
Hinkamp Jewelers Celebrates 70 YearsThe family-owned jeweler in Fayetteville, North Carolina, is in the hands of the second generation.
ColumnistsAug 26, 2025
Back to School, Back to Style: Why August is Prime Time for Self-GiftingIn his latest column, Emmanuel Raheb shares tips for encouraging customers to treat themselves to new jewelry.
WatchesAug 25, 2025
London Jewelers Brings Rolex to Historic Hamptons HomeThe new stand-alone Rolex boutique is housed in the former Odd Fellows Hall, a landmark built in 1897.
CollectionsAug 25, 2025
Tennis Star Madison Keys Has the Perfect Necklace for the US OpenThe Brilliant Earth ambassador co-designed a diamond medallion featuring meaningful symbols.
TrendsAug 25, 2025
Amanda’s Style File: That’s a WrapWrap jewelry is more than just a trend; it’s the perfect motif for the coming season of layering, scarves, and pumpkin spice.
WatchesAug 25, 2025
WatchTime NY Show Returns for 10th Anniversary EditionThe three-day watch collector show, coming this October, will feature 44 exhibiting brands, as well as a new dinner experience.
GradingAug 22, 2025
Former Head of GIA India Promoted to Oversee Global Operations Sriram “Ram” Natarajan is now GIA’s senior vice president of laboratory operations and is based out of the lab’s headquarters in Carlsbad.
CollectionsAug 22, 2025
Piece of the Week: Retrouvaí’s ‘Diamond Vein Bond’ CollarThe one-of-a-kind collar represents the beauty of imperfection and the strength to rebuild.
MajorsAug 22, 2025
Kendra Scott Returns as CEO of Her Jewelry EmpireThree C-suite executives, including former CEO Tom Nolan, have resigned as part of what the company describes as a “transition.”
MajorsAug 21, 2025
Claire’s Finds Buyer, Could Save up to 950 StoresThe retailer, which recently filed Chapter 11, inked a deal to sell its North American business and intellectual property.
MajorsAug 21, 2025
Target Names New CEO as Sales Continue to Lag Target CEO Brian Cornell will step down in February and be replaced by the company’s chief operating officer, Michael Fiddelke.
Policies & IssuesAug 21, 2025
JA, IDMA Talk Tariffs With Execs in DC The group met with the president's senior trade advisor earlier this week to express the industry’s concerns about the effects of tariffs.
