Pandora Reports Slowdown in Organic Growth

(IDEX Online) - Pandora has reported a slowdown in organic growth, down from 4% for Q4 2025 to 2% during Q1 2026.

That's a combination of flat growth in like-for-like sales (0%) and network expansion and "other" at 2%.

The world's largest jewelry maker, with 6,800 points of sale globally, blames weak consumer sentiment, particularly in North America, where like-for-like sales dipped 2% during the quarter.

Organic growth, the Danish company's headline indicator, was 6% for FY 2025.

It reported "solid profitability despite external headwinds".

It also said plans to introducing platinum-plated jewelry - to reduce its reliance on sterling silver - were progressing well, after silver prices more than doubled last year.

Berta de Pablos-Barbier, president and CEO of Pandora, said: "We delivered 2% organic growth in the quarter, in line with our expectations, and are advancing our initiatives to re-energise Pandora's growth engine."

The company is expanding beyond charm bracelets (which currently account for over 70 per cent of its revenue) into a full jewelry brand.

"We are expanding into new materials, positioning Pandora as a multi-material jewellery brand over time," said de Pablos-Barbier.

"We remain focused on executing our strategic plans despite the uncertain economic and geopolitical backdrop".