Pandora has witnessed 15% organic growth in Q2 2024, with like-for-like growth of 8% and network expansion of 6%, crediting store traffic and its new full jewellery collections.
The Danish jewellery manufacturer, known for its customisable charm bracelets, also reported 10% LFL growth in key European markets. Growth in the US was described as “robust” at 5%, while the Rest of Pandora saw double-digit growth of 13%.
In June, Pandora opened its first ever global flagship store in Copenhagen, its largest store to date, and has credited higher store traffic for its continued success.
Additionally, the brand is working to transform the perception of Pandora into a full jewellery brand. This includes investment into its “BE LOVE” marketing campaign and new designs. Pandora recently launched the Pandora Essence collection [pictured], and stressed initial results have been encouraging.
“Our strategy continues to take Pandora to new heights despite general consumer spending being somewhat sluggish,” explained Alexander Lacik, president and CEO of Pandora.
“We have successfully started the journey to make Pandora known as a full jewellery brand, and our results show that consumers like what they see. Thanks to our strong performance, we are again raising revenue guidance for 2024 and look to the second half of the year with optimism.”
A two-page company profile in the RetailX European Luxury 2024 report looks at how Pandora, founded in 1982, taps into the growing sweet spot for affordable luxury jewellery – and has capitalised on this in Europe.
The Pandora profile is one of nine in the report, with Coach, Farfetch, Gucci, Guerlain, Longines, Louis Vuitton, Lyst and Ray-Ban also covered.
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