Christmas and Lab Growns Push Pandora's Revenue to $1.58bn
January 09, 24
(IDEX Online) - Pandora reported a Q4 surge in revenue, with strong Black Friday and Christmas performances, and a near doubling of its lab grown sales.
The Danish jeweler best known for its charm bracelets reported a 12 per cent increase in organic growth (9 per cent like-for-like) to $1.58bn.
"Key markets in Europe remained solid at 5 per cent growth, US accelerated to +10 per cent growth and Rest of Pandora continued strong double-digit growth at +16 per cent," the company said.
Pandora's own full-year forecast for like-for-life growth, made in November 2023, was 5% to 6%.
Former Baywatch actress Pamela Anderson (pictured) has been fronting the company's lab grown Diamonds for All campaign after it ditched mined stones in August 2022.
Alexander Lacik, president and CEO of Pandora, said: "We are very pleased with our results across the peak trading season, and how we closed 2023. It's clear that our brand resonates well with consumers and continues to gain strength.
"The success in 2023 is also testament to the great work of Pandora teams around the world, who have helped take the Phoenix strategy to the next level."