Pandora aims to become full jewellery brand in affordable luxury market

Pandora has announced its growth strategy for the coming years, aiming to build the position as a full jewellery brand across accessible price points. 

To achieve this target, the Copenhagen-based company will increase investments in brand desirability and the store network with a refreshed marketing strategy and elevated in-store experience.

Pandora will also focus on accelerating revenue growth with its Phoenix strategy – launched in 2021 – and boosting investments in the brand, stores, organisation and people.

The company’s new financial targets include an organic growth of 7-9 per cent CAGR from 2023-2026, with a network expansion of about 3 per cent.

Revenue is thereby expected to reach DKK 34-36 billion (US$4.8-5 billion) in 2026, up from the expectation of around DKK 27 billion ($3.8 billion) for 2023.

The company aims to deliverer EBIT margin expansion and continue providing strong cash returns to shareholders.

Regarding its sustainability goals, the firm said it is on track to shift to 100 per cent recycled silver and gold by 2025, and is spearheading the use of lab-grown diamonds.

“Looking back at the past few years, we are proud of our achievements. We have fundamentally changed how we work, and the organisation is much stronger,” said Alexander Lacik, president and CEO of Pandora.

Pandora jewellery is now sold in more than 100 countries through more than 6500 points of sale, including more than 2500 concept stores.

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