Pandora’s UK boss Rasmus Brix has said removing the tourist tax will help to offset some of the current challenges facing the high street.
Brix said Pandora was “missing out” due to the absence of VAT-free shopping for international visitors, which was scrapped in 2021.
The UK and Ireland managing director told The Mail that reinstating the scheme “could offer a significant boost for the retail sector and the economy as a whole”.
According to Brix, the move would help to “offset some of the disruption we’re seeing as a result of the weather, cost-of-living and ongoing train strikes”.
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He added that a 20% refund on purchases would incentivise shoppers to spend more on average and choose more expensive jewellery.
Pandora raised its full-year revenue outlook after second quarter sales jumped 5% thanks to the 2% growth in like-for-like sales and “network expansion” of 4%.
It now expects to report organic sales growth of 2% to 5%, against its earlier forecast of a 2% to 3% decline.
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