Pandora has reported a “successful” 2024 as sales and profits rose thanks to growth in the US and other markets as it continues to elevate itself to become a “full jewellery brand”.
For the 2024 full year, Pandora reported a 13% increase in revenue to DKK31.7bn (£3.53bn).
EBIT for the year was also up 13% respectively to reach DKK8bn (£890m) during the year.
Pandora also noted “strong online growth”, which accounted for 27% of its sales in 2024 as well as a “strong performance” across its core collections including charms and bracelets.
In terms of geographies, Pandora said like-for-like growth was driven by solid performance across the US and the rest of its markets. Growth in key European markets remained flat at 0%.
Pandora also has plans to launch its new online platform globally this year, which aims to “notably” boost the brand’s “desirability”.
Looking forward, Pandora expects organic growth of between 7% and 8% as well as an EBIT margin in 2025 of around 24.5%.
Pandora president and chief executive 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.”
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