Pandora reports sparkling year as sales rise double-digits

In its most recent results, Pandora said it is delivering on its growth strategy and has "continued to elevate itself as a full jewellery brand".

Pandora reported a 13% increase in EBIT to DKK 31.7 billion (£890 million) for 2024, even amid a year of "cautious" global consumers.

The Danish jewellery brand saw sales rise 13% to DKK 8 billion (£3.53 billion) for the period, driven by "strong" online growth that made up 27% of revenues and performance of its core jewellery collections.

The brand said like-for-like growth was driven by sturdy performance both in the US and UK, but comparative sales had dipped 2% due to "dampened consumer sentiment".

Looking towards 2025, Pandora posted expected organic growth between 7-8% and an EBIT margin of roughly 24.5%.

Growth remained solid through the fourth quarter of 2024. Organic growth ended at 11%, comprising of like-for-like growth of 6% and network expansion of 5%.

Pandora announced its four-part Phoenix strategy in March 2024, which focuses on four core growth pillars: brand, design, personalisation and core markets.

After successful testing in the final quarter of 2024, its brand-new e-commerce platform is set to be rolled out globally through 2025. The new platform looks to "notably step up Pandora’s brand desirability".

In October 2023, the British Fashion Council announced that Pandora would be the official sponsor for its annual British Fashion Awards. This partnership continued for last year's awards, held in December at the Royal Albert Hall.

Pandora president and CEO Alexander Lacik said: "We are pleased with how we ended 2024, particularly given the challenging macroeconomic backdrop and a competitive holiday period. Execution of our Phoenix strategy continued to drive the brand forward throughout the entire year.

"In 2025, we target another year of solid and profitable growth and we have all actions lined up to continue the strong development."