Financials

Pandora Drops 183 More Retailers in the Americas

FinancialsFeb 10, 2016

Pandora Drops 183 More Retailers in the Americas

The fourth-quarter cut brings the year-end total to 529 unbranded doors closed in the Americas, most of which were located in the United States.

2016-Pandora-Jewelry.jpg
Pandora had “another great year,” CEO Anders Colding Friis said Tuesday when the company announced its financial results for 2015. The Danish bead brand saw global sales grow 40 percent.

Copenhagen, Denmark--Pandora announced Tuesday that it cut distribution to 183 silver, white, and travel-level retailers in the Americas in the fourth quarter, most of which were located in the United States.

The 183 retailers cut from the company’s distribution network in the fourth quarter follows cuts of 105, 125 and 116 made in the first, second and third quarters, respectively, and brings the year-end total to 529 “unbranded” doors closed.

That equals nearly 38 percent of Pandora’s entire network of unbranded retailers in the Americas. Pandora had 1,402 when 2015 started; by Q4, that number was down to 873.  

Pandora’s continued closing of silver, white and travel-level retailers in the Americas is part of its overall strategy to increase distribution worldwide to shop-in-shops, gold level retailers and its concept stores, what it refers to as the “branded” portion of its distribution network.

CEO Anders Colding Friis said Tuesday that Pandora opened almost 400 concept stores worldwide in 2015, which was “another great year” for the company.

Globally, Pandora saw its sales increase 40 percent (29 percent in local currency) year-over-year, reaching $2.52 billion. This included a 34 percent (17 percent in local currency) increase in fourth quarter revenue in the U.S., driven by network expansion, including its new online store, regional like-for-like growth rates and strong Christmas sales.

Revenue from concept stores accounted for more than half (62 percent) of Pandora’s total sales for the year, and increased 54 percent when compared with 2014.

Gross margin rose from 70.5 percent to 72.9 percent while net profit increased 19 percent to $552.9 million.

In 2016, Pandora said it will continue to focus on its branded store network and plans to open more than 250 concept stores worldwide, roughly 20 percent (50) of which will be in the Americas.

In addition, Pandora already announced that it is partnering with Signet Jewelers Ltd. to build out Pandora shop-in-shops in more than 200 Jared the Galleria of Jewelry stores, a project that will begin this year.

The company also now sells online direct to consumers in the U.S.  

Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

Gem Awards 2025 at Cipriani New York
Events & AwardsOct 28, 2025
Meet the 2026 Gem Award Nominees

Notable jewelry designers, members of the press, and retailers are up for an award at next year’s gala.

Graphic for Jewelers of America’s 2025 State of the Industry webinar
Recorded WebinarsOct 28, 2025
Watch: The State of the Jewelry Industry

Leaders from Jewelers of America and National Jeweler discuss the gold price, tariffs, and more in this one-hour webinar.

Eriness One of One Collection Rings and Necklace
CollectionsOct 28, 2025
Eriness Reflects on Life in ‘One of One’ Collection

After experiencing motherhood, growth, and loss, founder and designer Erin Sachse has created 10 irreplaceable jewels.

Supplier Spotlight -Recorded-Webinar.png
Brought to you by
Watch: Introducing GIA Jewelry Services

Supplier Spotlight Sponsored by GIA

Napoleon’s diamond brooch and a pearl and diamond hair ornament
AuctionsOct 27, 2025
Napoleon Left This Brooch Behind, And Now It’s Up For Auction

It is part of Sotheby’s “Royal & Noble Jewels” sale along with an ornate hair ornament and an old mine-cut light pink diamond ring.

Weekly QuizOct 16, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Marie Louise’s emerald necklace and earrings stolen in the heist at the Louvre Museum
CrimeOct 27, 2025
Arrests Made in Louvre Jewel Heist

One of the individuals was apprehended at the airport as he was trying to flee the country.

Holiday shoppers in Target
MajorsOct 27, 2025
Target to Cut 1,800 Corporate Jobs

The retailer, which has faced struggling sales in recent quarters, is looking to streamline its operations.

DEBEERS_DAY4_DSC_1023-01_1872x1052.jpg
Brought to you by
DESERT DIAMONDS: The Newest Trend in Natural Diamond Jewelry

From sunlit whites to smoky whiskeys, introduce your clients to extraordinary diamonds in colors as unique as their love.

Hill Management Group
Events & AwardsOct 27, 2025
Hill Management Group Hired to Help Atlanta Jewelry Show

Hill Management Group will oversee, market, and produce next year’s spring show.

Bonhams New Bond Street London flagship
AuctionsOct 24, 2025
Bonhams Under New Ownership, Top Executives Replaced

London-based investment firm Pemberton Asset Management acquired the auction house for an undisclosed amount.

De Beers Diamond View Zoom machine with monitor
GradingOct 24, 2025
DMIA to Hold Diamond Testing Instrument Demo

The workshop will give attendees the chance to try out and ask questions about three different diamond verification instruments.

Two brooches stolen in the October 2025 heist at the Louvre Museum in Paris
CrimeOct 24, 2025
Video Emerges of Louvre Jewelry Robbers Fleeing the Scene

The footage shows two of the jewelry heist suspects descending from the second floor of the museum and then escaping via scooter.

Wyld Box Jewelry Ray of Light Large Drop Earrings
CollectionsOct 24, 2025
Piece of the Week: Wyld Box Jewelry’s ‘Ray of Light’ Earrings

Founder and designer Rosanna Fiedler looked to a vintage Cartier clutch when designing the sunlight-inspired drop earrings.

Cullinan Diamond Mine plant
SourcingOct 23, 2025
Petra Diamonds Turns to Shareholders to Raise Capital

The struggling diamond mining company, which owns the historic Cullinan mine, has launched a rights issue to raise about $25 million.

Million Dollar Hip Hop Watches by Leon Schäfers, Jeanette Lang, Tobias Kargoll
WatchesOct 23, 2025
‘Million Dollar Hip Hop Watches’ Recounts Watch History

The book details the journey of watches as symbols of hard-earned success in hip-hop for artists like 2Pac, Jay-Z, and more.

Alexis Vourvoulis
AuctionsOct 23, 2025
Freeman’s | Hindman Names New VP, Senior Specialist for Jewelry & Watches

Alexis Vourvoulis, who most recently worked at Tiffany & Co., brings more than two decades of jewelry experience to her new role.

Taylor Swift engagement ring Greenwich St
TrendsOct 22, 2025
The Taylor Swift Effect: Antique Diamonds Edition

The superstar’s August engagement put the stamp of approval on an already hot engagement ring trend.

Rahaminov Diamonds Emerald-Cut Diamond Bracelet
TrendsOct 22, 2025
Don’t Forget These Diamond Jewelry Trends When Stocking for the Holidays

Retailers should offer classic styles with a twist that are a perfect fit for layered looks, experts say.

Fancy vivid purplish pink diamond
AuctionsOct 22, 2025
Pink Diamond, Vanderbilt Jewels to Headline Phillips’ Geneva Auction

The nearly 7-carat fancy vivid purplish pink diamond could sell for around $9 million.

“Storied Diamond Desert Sands of Eternity” engagement ring and wedding band
SourcingOct 22, 2025
In ‘Storied Diamond,’ Jared Jewelers Is Emphasizing the Journey

The retailer’s new collection of engagement rings and fashion jewelry is set with natural diamonds that are traceable via blockchain.

Tiffany & Co. Bird on a Rock by Tiffany High Jewelry Lariat
CollectionsOct 22, 2025
Tiffany & Co.’s ‘Bird on a Rock’ Finds New Perch

Chief Artistic Officer Nathalie Verdeille has reimagined the iconic design in both figurative and abstract creations.

Jewelers for Children Halloween contest
Events & AwardsOct 22, 2025
JFC Kicks Off Halloween Costume Challenge

Five dollars buys one vote toward an industry professional you want to see dressed up as a hero, or a villain, this Halloween.

Hillsborough show
Events & AwardsOct 22, 2025
Hillsborough Antique Show Gets New Owner

Recently acquired by KIL Promotions, the November edition of the public show in San Mateo, California, will be held Nov. 7-9.

Bicolor pink and colorless diamond
GradingOct 21, 2025
GIA Examines Rare Bicolor Pink Diamond

The stone’s two zones, one pink and one colorless, may have formed at two different times, the lab said.

Pomellato Rodeo Drive Flagship Exterior
MajorsOct 21, 2025
Pomellato Brings ‘Global Attitude’ to Rodeo Drive Flagship

Hollywood glamour meets Milanese sophistication in the design of Pomellato’s new store in Beverly Hills, California.

Grown Brilliance NYC Flagship Exterior
Lab-GrownOct 21, 2025
Grown Brilliance Opens First Flagship

The New York City store showcases a chandelier with 1,500 carats of lab-grown diamonds designed by an FIT student.

Douriean Fletcher Messenger Collection
Events & AwardsOct 21, 2025
‘Douriean Fletcher: Jewelry of the Afrofuture’ Opens at MAD

The Museum of Arts and Design's new exhibition features 75 pieces by the designer, best known for her work in the “Black Panther” films.

×

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