Tuesday, August 16, 2022

Will Pandora lose its charm in 2016?

Over Christmas jewellery specialist Pandora saw UK revenue soar by 49.7% year-on-year to 979m Danish Kroner (DKK).

UK like-for-likes also grew 18.8%. Recent success comes from a new focus on categories such  as its rings and earrings, said the retailer in a statement on Wednesday. Rings produced 20% of UK turnover last year.  

“Whilst our early success in the market can be largely attributed to our popular charm bracelet, we have recently placed huge importance on our other product categories, promoting Pandora as a full jewellery brand. Strong Christmas sales were testament to this strategy, with revenue from the rings category increasing by more than 75% compared with Q4 2014” said Peter Andersen, President of Pandora UK.

Although the previous year‘s revenue left the Danish jeweller in a confident position, Pandora has forecast a slowdown in growth for this coming year.

The jeweller, best known for its charm bracelets, warned that sales would rise just 14% in 2016, DKK19bn; significantly lower than its 28.9% growth to DKK6.7bn in 2015.  

“This year will not only see us open new production facilities in Chiang Mai to meet product demand, but will also see us open our 200th store in the UK – an impressive milestone considering we have only been in the market for seven years.”

The retailer will continue to extend its estate this year after opening close to 400 stores in 2015. 60% of new stores will be based in Europe, 20% in America and another 20% in Asia.  


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