Pandora continues to experience strong growth as it expands its product offerings beyond charm bracelets to become a full jewelry brand.
For the third quarter, ending September 30, Pandora reported a total revenue of $881 million, reflecting an 11% increase in organic growth. While the company is maintaining growth, it has slowed compared to previous quarters—18% in Q1, 15% in Q2, and 23% in Q4 of 2023.
Pandora raised its full-year organic growth forecast to 11-12%, up from the previous range of 9-12%.
The company attributes its ongoing success to its “Phoenix” strategy, which was launched in 2021. This strategy has helped Pandora shift into a more comprehensive jewelry brand.
CEO Alexander Lacik expressed satisfaction with the company’s performance despite the broader economic challenges, stating that Pandora is successfully attracting more customers and entering a new phase of growth.
Operating profit for Q3 increased by 6.5%, reaching $141 million. However, Pandora warned that rising gold and silver prices could affect its margins in the future.
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