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The world’s largest mass-market jewellery brand, Pandora, has raised its guidance for the year following better-than-expected sales in the first quarter. | Source: Pandora
The world’s largest mass-market jewellery brand, Pandora, has raised its guidance for the year following better-than-expected sales in the first quarter. | Source: Pandora

Pandora: Lab-created diamond jewellery boosts sales

The world’s largest mass-market jewellery brand, Pandora, has raised its guidance for the year following better-than-expected sales in the first quarter.

The company expects revenue to increase by 8-10 per cent this financial year, up from the 6-9 per cent previously projected.

Sales in the first quarter increased by 18 per cent on a year-on-year comparison, with this improvement attributed to high demand for lab-created diamond jewellery collections.

Alexander Lacik, CEO of Pandora
Alexander Lacik, CEO of Pandora
"We are very pleased with our start to the year, as we embark on the next chapter of Phoenix."
Alexander Lacik, Pandora

Pandora sells lab-created diamond jewellery in more than 700 stores worldwide, including Australia. Online sales increased by 22 per cent in a year-on-year comparison.

CEO Alexander Lacik said with store expansion continuing, the company was well-positioned for a successful year.

“We are very pleased with our start to the year, as we embark on the next chapter of Phoenix,” he said.

“Whilst jewellery markets around us generally remain subdued, our ongoing brand investments allow us to take market share. We raise our revenue guidance and look forward to keep fueling our growth with exciting strategic initiatives.”

Strong sales in the US and Europe countered a 17 per cent decline in China. In Australia, sales declined by 3 per cent. 

During the first quarter, the company opened 19 new concept stores and seven Pandora-owned store-in-store locations.

Fluctuations in Pandora share price over the past 12 months.

 

More reading
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Kings of luxury: New research highlights Pandora's dominance
Lab-created diamonds: Increasingly popular with young consumers
Pandora reaches target ahead of schedule
Be Love: Pandora launches new global campaign
Global leader: Strong sales continue for Pandora
Sales forecast: Best is yet to come for Pandora

 

 











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