Pearls for Pandora. The Danish jewelry brand has introduced a series of jewels that also feature freshwater pearls. The jewels are part of the Timeless line and include rings, earrings and necklaces. Like the 925 sterling silver ring with a slightly square profile. The center features two asymmetrically set freshwater cultured pearls and a luminous colorless cubic zirconia stone. The Pandora logo is engraved inside the band. Price: 79 euros.
The new necklace with cultured freshwater pearl and spheres is made of 14-carat gold-plated metal alloy. The necklace is made up of a row of metal spheres, with a slightly larger cultured freshwater pearl positioned in the center. A colorless cubic zirconia stone hangs from the lobster clasp. Price: 199 euros.
There is also a new ear cuff in silver, with two cultured freshwater pearls and a colorless cubic zirconia stone in combination, with an asymmetrical design and slightly square profile with rounded edges. Attention: it is sold individually and is not adjustable in size, so you do not need to open, fold or tighten it. You place the ear cuff on the top thin point of the ear and slide it down to position it at the bottom, thickest part of the ear. This earring should not be worn anywhere else on the ear. Price: 59 euros.
Fairytale Pandora with Cinderella
Previewed last year with jewels linked to the world of Disney, Pandora returns to propose Cinderella as the subject of a line of new jewels. The fairy tale to which the jewels are linked is one of the most popular: perhaps not everyone knows that it has very ancient origins, dating back to ancient Egypt. In the West, the first version of Cinderella was written by an Italian at the beginning of the seventeenth century, Giambattista Basile, and is set in the Kingdom of Naples. The most famous version, however, is that of the Brothers Grimm from the early nineteenth century. Version that was made into an animated film by Walt Disney in 1950, with a live action remake in 2015.
The story of young Cinderella’s redemption now lives on in Pandora’s jewels. As with the Cinderella’s Shoe pendant charm, made of 925 sterling silver and a light blue crystal, as well as light blue cubic zirconia (price 59 euros). The Cinderella Carriage ring is made of 14k gold-plated metal alloy and features an openwork design that creates the shape of a detailed carriage, with openwork and layered lines, with a light blue marquise-cut cubic zirconia stone in the center. The lines of the wheels connect the carriage to the ring band, half of which is decorated with bright colorless cubic zirconia stones (price 89 euros).
The Carriage and Heart pendant is also in 14k gold-plated metal alloy and features two heart-shaped pendants, with openwork details and a light blue marquise-cut cubic zirconia in the center. The second pendant is decorated with glittery blue enamel and on the back bears the message A Dream is a wish your heart makes, (price: 89 euros).
Gold medal for Pandora 2023
2023 was a golden year for Pandora jewelry. The economic results of the largest jewelry group in the world indicate an organic growth of +8%, better than forecasts of 5-6%, with growth on a like-for-like basis and exchange ratios of 6%, while the expansion of the network brought growth of 4%. Revenues have therefore increased, but so has profitability. Gross margin improved to 78.6%, an increase of 2.3% compared to the previous year. The EBIT (earnings before interest and taxes) margin remained at 25.0%, while the profit-to-share value ratio rose to a record high of 55.5 Danish crowns. In short, the financial data are positive.
According to the company, the Christmas period was particularly positive and organic growth rose by 12%: in Europe +5%, in the United States +10%, and even better in the rest of the world with +16%. Thanks, says the company, to the strategy called Phoenix, of which the first chapter has been closed, with continuous investments in the brand which have favored large-scale growth in all collections. The launch of the new Christmas campaign Loves, Unboxed proved to be a hit. The company also completed the transition to recycled gold and silver a year early.
And 2024? Pandora is aiming for another year of solid growth, even if the macroeconomic climate is less favorable. The initial guidance for 2024 foresees organic growth of 6-9% and an EBIT margin of around 25%. Growth in the first part of the year is in single digits.
We are very pleased with how we closed out 2023 with great trading during the holiday season. Looking back over the past two years, since we launched the Phoenix growth strategy, we are proud of how our strategic initiatives have come together to deliver consistent results despite the challenging macroeconomic environment. In 2024, we are targeting solid, profitable growth as we implement Phoenix’s next chapter.
Alexander Lacik, president and CEO of Pandora
Pandora switches to recycled gold and silver
Gold and silver jewelery made without using metals extracted from the earth: Pandora has decided to take the big step towards more sustainable production. It won’t be an easy path, given that the Danish jewelry brand is the largest in the world in terms of volumes. In any case, Pandora has decided to use exclusively recycled and melted gold and silver to obtain the material necessary for its jewellery. The extraction of metals requires more energy and resources than recycling: for silver the reuse is equivalent to a third of that of extracted silver, while for gold less than 1% of the carbon emissions produced by the ‘extraction. In this way, Pandora calculates, 58,000 tonnes less Co2 will be produced per year.
The savings for the environment, Pandora always estimates, are equivalent to the annual electricity consumption of 11,000 homes or the driving of 6,000 cars worldwide. In 2020, Pandora set a goal to source 100% recycled silver and gold by 2025, and the company announces it has reached the milestone ahead of schedule. Pandora plans to make all new jewelry with 100% recycled silver and gold starting in the second half of 2024. By 2023, 97% of the silver and gold used in Pandora jewelry was already recycled.
Precious metals can be recycled endlessly without losing quality. Silver mined centuries ago is as good as new, and improved recycling can significantly reduce the climate footprint of the jewelry industry.
Alexander Lacik, CEO of Pandora
The Danish brand’s suppliers had to change their operations to only source recycled materials certified according to the Responsible Jewelery Council Chain of Custody, one of the most stringent standards in the industry. For many of them this has involved introducing new processes and equipment to ensure complete separation of mined and recycled metals throughout the entire supply chain, including sorting, smelting and manufacturing. More than one hundred Pandora employees were involved in the transition work.
Today, less than 20% of the world’s silver supply comes from recycled sources, typically from discarded electronics, old jewelry, silverware, manufacturing scraps and other industrial waste. Once collected, recycled silver is subjected to a refining process where impurities are removed and the metal is remelted for reuse.
Pandora’s Valentine’s Day
Love and charms: a couple under the sign of Pandora. For the Danish house, Valentine’s Day is an opportunity for an overview of jewels that have the theme of love as their common characteristic. Like the Murano Glass Heart Pendant with Arrow charm in 925 sterling silver, featuring a red glass heart struck by Cupid’s arrow. The arrow spells out the word Love, visible through Murano glass, with the letter O in the shape of a heart. A pavé row of colorless cubic zirconia stones decorates the ring (price 69 euros). An alternative is the Engraved Openable Padlock pendant. It is made of 14K gold plated metal alloy. It has the shape of a disc with the silhouette of a lock in the center made with colorless cubic zirconia. The back side can be personalized by adding a message or symbol. Furthermore, the pendant opens and closes securely: you can place a small photograph, message or lock of hair inside. And inside there is the writing Today Tomorrow Always. Price: 79 euros.
Always in tune with the Valentine’s Day is My Love Is Yours, a 925 Sterling silver charm made up of two pendants. The front one has a heart-shaped outline decorated with a row of colorless cubic zirconia stones, with a small keyhole-shaped pendant in the center. The back pendant is a heart painted in red enamel with a cutout that matches the keyhole pendant perfectly. The message My love is yours is engraved on the back. Price: 59 euros.
51% of women buy jewelry for herself
Over half of the women buy the jewels for herself. And loves white metal ♦ ︎
Are women in New York different from those in Boston, London, Paris or Milan? Probably not. The survey conducted time ago by MVI Marketing on the purchasing habits of young and very young american women, including the so-called Millennials, should be read carefully. According to the survey, girls born at the turn of the year 2000, also called Generation Y, often buy jewelry for themselves.
The market analysis company questioned 1,001 women aged 25 to 40 in the United States and with a family income of at least $ 75,000. Result: 51% of young women buy jewelry for themselves, as a reward for some achievement achieved or for their own pleasure. This is an interesting element for those who make jewelry: these are potential customers, in fact, for the next 30 years. And the fact of having a behavior so independent of the jewelry also means, probably, a different orientation than the classic jewelry, intended for ceremonies or anniversaries. 14% of the women interviewed, on the other hand, said they were buying a jewel as a gift for their husband or partner, while 17% bought jewelry as a couple, probably for special occasions. The preference for metal is also interesting: 35% indicated white gold, 17% silver and 15% platinum. In other words, white is fashionable: only 13% indicated pink gold and 11% yellow.
The survey also asked what were the preferred brands and, in this case, we must remember that the survey was conducted in the USA. In any case, Tiffany, Pandora and Swarovski ranked first, in a list that also included Alex and Ani, Gucci, Cartier and Tory Burch. But, in fact, this is a result that applies to the United States.
Finally, another interesting fact: MVI asked the interviewees if they will would bought a synthetic diamond, produced in the laboratory. 43% said it was possible, but uncertain, 21% did not rule it out, but asked for more information, while 13% said yes, they would buy a synthetic diamond.
Golden quarter for Pandora
It is a positive moment for the jewelry sector and Pandora is also reaping the benefits. The financial statement data relating to the third quarter of the year indicate organic growth of +11%, which becomes +9% with the perimeter unchanged. The expansion of the network, underlines Pandora, has led to +4% growth. In particular, the Danish company in Europe records +4%, in the United States an improvement to +5% and the Rest of Pandora continues its strong momentum with +22%. Also according to financial data, the gross margin reached an all-time high of 79.0%, thanks to the mix of channels, cost efficiency and price increases.
The Ebit profitability indicator is also high, at 16.5% in the 2023 quarter, in line with expectations and for the whole year it will stand at around 25%. It should be noted, for those interested in purchasing not the jewels, but the Pandora shares, that the buy back has reached 4.3 billion Danish crowns since last February 8, with a total purchase forecast of 5.0 billion by February 2024.
In other news: Pandora has kicked off a new chapter in Phoenix’s strategy to transform the perception of the company as a complete jewelry brand and accelerate growth. The increased investments in the brand are already yielding good results, with the launch of several global campaigns and events in the fashion world which have led to greater consumer involvement in all the main touchpoints. Moments and Pandora ME delivered +7% and +12% growth, respectively, while Timeless continued to post even stronger growth of +21%. Lab-grown diamond jewelry generated +84% sales, despite starting from a low base.
We are very pleased with this quarter’s results. Our brand investments are attracting more consumers to our stores. We have achieved strong growth at scale, while our record-high gross margin underpins our unique business model. We have raised our full-year guidance and continue to see very compelling opportunities for Pandora just as we begin the next chapter of our growth strategy.
Alexander Lacik, President and CEO of Pandora
Pandora for Christmas
Christmas has already arrived with Pandora. The Danish jewelry brand offers a series of jewels accompanied by the claim Loves, unboxed. It is a revisitation of the great classics of Pandora jewellery, with pieces from the Moments collection which features a large use of white cubic zirconia pavé on silver, or in a 14 carat yellow or rose gold plated version. Like the Crescent Moon and Stars necklace or earrings. This is not a new collection, but a selection of jewels that Pandora is highlighting in view of the festive period.
In addition to the brand’s classics, among the jewels dedicated to the winter festive period there are also pendants and elements directly linked to Christmas, such as the sleigh charms, Santa Klaus, decorated tree, stars, snowman, snow-covered house. All symbols of the most celebrated season of the year. They are always made of silver, with the addition of cubic zirconia and in some cases with red enamel touches, the classic Christmas colour.
Pandora for Halloween
The origin of the Halloween celebration, which in some countries coincides with All Saints’ Day, is uncertain. What is certain, however, is that the idea of celebrating it is very widespread: the most popular Halloween activities, especially in Anglo-Saxon countries, include trick-or-treating, related disguises, taking part in Halloween costume parties, carving pumpkins or turnips such as lanterns, lighting bonfires, but also throwing apples, pranks, watching horror films. The world of jewelery has long taken the opportunity to propose themed collections. Pandora is doing it again this year.
The Halloween pumpkin charm that glows in the dark is made of 925 silver. With grooved details, a scary face and heart-shaped eyes, this charm with applied enamel glows in the dark (price 49 euros). The Little Devil Pandora Me mini pendant charm is inspired by the world of emojis and is made of 925 silver. It has two brilliant-cut purple crystals in place of the eyes, while the characteristic smile completes the facial expression. The back of the charm is decorated with an enamel tail and the unmistakable devil’s horns (price 25 euros). The Spooky Heart Pendant charm is decorated with transparent purple enamel, which fades from top to bottom. The 925 Sterling Silver wings with fluted details add a scary element to the design, along with a smile with two vampire teeth engraved on the front of the charm (price 59 euros).
Diamonds or cubic zirconia?
Buy a jewel with cubic zirconia, that is, with a synthetic stone that looks like a diamond? Here’s what you need to know about cubic zirconia which is actually … ♦ ︎
Diamonds or cubic zirconia? Those who cannot afford the most loved precious stones are often satisfied with their imitation: cubic zirconia, which is found on jewels that are cheap and shine just the same. But many have asked us to know more: what are the stones called cubic zirconia really? Here’s what you need to know about cubic zirconia, a widely used stone, for example by Pandora and many other jewelry brands with low prices. With a premise: these stones are often sold as zircons. But it is a different stone. Attention: cubic zirconias are also different from diamonds grown or created in the laboratory, which have a chemical structure completely the same as that of natural diamonds. Synthetic or laboratory diamonds cost less than natural diamonds, but much more than a cubic zirconia crystal.
Read also: Cubic zirconia or zircons? Here’s what to choose
Cubic zirconia is often referred to by the initials CZ. If you read CZ in the description of a jewel, then know that it is a synthetic material.
What is it
Cubic zirconia is obtained in the laboratory, it is not a natural stone. But it looks a lot like a diamond. On the contrary, those who are not experts will certainly confuse it as a diamond: it has the same appearance, it is cut simily. Not only that: in addition to the classic colorless appearance, it can also be colored and resemble fancy yellow or blue diamonds. Of course, if you then try to sell a cubic zirconia you will not receive much. Indeed, probably no jeweler will buy a ring with a cubic zirconia mounted.
Cubic zirconia was born in 1976 as a low-cost synthetic diamond. It is obtained by dissolving together a chemical element, zirconium, with zirconium dioxide powder and heating everything at a very high temperature. Since it is a synthetic stone, cubic zirconia is perfect: it does not have the inclusions or defects that can be found on a natural stone. Among other things, the CZ is almost as hard as a diamond: on the hardness scale of Mohs is to 8.5, while a brilliant is the most hard element of all and reaches 10.
How to distinguish a diamond from a cubic zirconia?
It is not easy for your eye, and even for a jeweler, who, however, carefully examining the stone with a microscope can identify whether it is synthetic or natural.
If you want to know if the ring that someone gave to you, is with diamond or a cubic zirconia you must necessarily subject the stone to some technical tests.
For example, diamonds are heat conductors, while zirconium oxide is an insulator. In theory, in sum, a diamond heats up before a zirconia. In practice, it takes special tools to ascertain it. Another aspect: hardness. To determine if it reaches 10 or stops at 8.5 without ruining the stone, also in this case it need laboratory instruments. A spectrometer also checks the density of the stone: cubic zirconia is 1.7 times denser than a diamond. Another aspect: the index of refraction: the diamond crossed by a light ray has an index of 2.42 with respect to zirconia, which stops at 2.15-2.18. Then there are other aspects, such as dispersion and color. Cubic zirconia, paradoxically, is almost always more perfect than a diamond. The natural ones on the market, with the exception of exceptions, have a classification lower than the maximum level.
Read also: Diamonds: 4 rules to avoid scams
The price
Cubic zirconia are synthetic stones with a much lower price than a diamond. But, as for natural stones, their cost depends on weight, that is carats. Moreover, not all cubic zirconia are equal: there are some that are better and, therefore, cost more. Finally, do not confuse cubic zirconia, or zircons, with diamonds created in the laboratory, which are much more expensive and almost indistinguishable from natural stones. The real zircons, however, the ones you see in the image below.
Pandora will open up to 275 stores
Phoenix, the mythical animal that rises from the ashes and was resurrected from the oblivion of school textbooks thanks to Harry Potter, is also the name of the strategy announced two years ago by Pandora. Now the Danish company says that that business idea is working and that next year it will be combined with the opening of over 250 stores globally. Not only. Pandora wants to conquer new markets. The strategies of the big jewelry company arose from the recent Capital Markets Day, an event dedicated to the economic-financial aspect of the company, which is listed on the stock exchange.
Phoenix is centered on the concept of sustainability, which can attract new and younger consumers, explained CEO Alexander Lacik. Concepts that have translated into investments and also product choices, such as that of offering jewelery with diamonds created in the laboratory. The next goal is to transform investments into greater revenues, even if the accessible luxury sector is particularly crowded. Furthermore, Pandora has to deal with an unknown number of imitators. The focus is on markets yet to be developed, such as those of South Korea, Japan and India. The company has already identified 7,000 possible locations for new stores in the regions where it already operates. From 2024 to 2026, Pandora plans to open between 225 and 275 stores, as well as 175 to 225 shop-in-shop stores. Last year, for example, Pandora partnered with Macy’s to open 28 shop-in-shops after a soft launch in five stores the previous year.
As regards the financial aspect, Pandora expects to reach an estimated turnover of 870 million dollars by 2025, thanks to an increase in sales in the USA and China, a country which, however, proves not easy to conquer. In countries where Pandora is strong, such as the United Kingdom, Italy and Australia, the company expects moderate sales growth, while in markets where it has a less strong base, such as the United States, Germany and France, it expects to grow more significant market shares.
Other news: all the new stores will have the new format, Evoke 2.0, inspired by multi-channel and with video screens that guide the customer in their choice, as well as spaces dedicated to click & collect, as well as engraving services to personalize jewellery. A concept inaugurated at the end of 2021 in Milan and London.
Game of Thrones returns with Pandora
Game of Thrones continues. But not on television. It is Pandora that polishes the myth of fantasy based on dragons and duels with a collection made up of 12 jewels, including the Dragon Egg Charm, the House of the Dragon Crown Ring and the Dragon Earrings. The collection is the result of the collaboration with Warner Bros Discovery Global Consumer Products. The result is Game of Thrones x Pandora, which transforms symbols and characters from the Game of Thrones saga into the Danish company’s classic silver jewels. Each piece in the collection is inspired by a story and invites the wearer to express themselves by reliving the themes explored in the series.
Here are the first three: a dragon egg charm made of silver and covered with a texture that imitates scales, with a slit where cubic zirconia have been set. It also represents the beginning of the story that lasted eight years and 73 episodes. A ring, however, recalls the Targaryen Crown of House Targaryen. It is a 14k gold-plated ring, with the house sign in the center and geometric details. The third piece is the dragon-shaped earrings, finished by hand. Made of silver, they can be worn individually or together on the same ear.
The symbols of ice and fire are contained in the 925 sterling silver Dragon Ring: it has the shape of a vortex. One end represents the dragon’s tail, decorated with four red crystals created in the laboratory, while the other end represents the head, with two red crystals as eyes (59.00 euros). The Murano Glass Ice and Fire charm uses two different colours. On the sides of the charm there are two dragons in 925 Sterling Silver decorated with details that form the heads, scales and tails (59 euros). The Geometric Mesh Bracelet with House Coat of Arms Clasp in silver features a clasp with the iconic symbols of the Game of Thrones. One side is that of the Stark family with the Direwolf made with openwork workmanship and the Winter is coming engraving. The other side represents the mythology of the Targaryen family, with the three-headed dragon seal made of 14k gold-plated metal alloy and the Fire & Blood engraving (89 euros).
New Pandora Signature products
Autumn news for Pandora’s Signature collection. The design of the collection is characterized by pavé and geometric lines with the Pandora logo always highlighted. They are jewels designed to be worn every day alone or combined with each other. All jewels are made of 925 sterling silver, while some selected models, such as the Pandora I-D Bangle, have a two-tone finish with 14k rose gold plating and pavé, while the stones used are cubic zirconia.
With such distinctive design codes, the Pandora Signature collection embodies an essence of modernity and originality.
A. Filippo Ficarelli
All jewels in the Signature collection are hand-finished by skilled craftsmen. The Rigido Signature Bicolore bracelet (150 euros) for example, uses silver and a 14-carat rose gold-plated metal alloy. The profile of the band changes from squared to rounded in the center. The square half features seven rectangular stones spaced along the outer surface. The location corresponds to the engraved letters of the Pandora logo along the side of the square profile. The snap and zipper closure makes it easier to put on and take off the bracelet.
We are extending our style universe to more classic jewelry, in a simplistic yet elevated way.
Francesco Terzo, SVP Creative Directors
How to clean a Pandora bracelet?
How to clean Pandora jewelry? Here are the tips for keeping Pandora jewelry bright ♦
Pandora jewelry is among the most popular. Proposed years ago only in the silver version, especially the famous bracelets with charms, they are now also available in the Pandora Rose version, which consists of an alloy of silver and copper, with a plating used to prevent oxidation, or in Pandora Shine: silver with an 18-carat gold plating. On the jewels, moreover, there are also crystals and cubic zirconia, synthetic gems that resemble the diamond. Pandora jewelry also has another characteristic: they are usually worn often, even every day. They are, in fact, the classic jewels for everyday life: bracelets, earrings and necklaces that you choose without thinking too much, also because their price is quite affordable and you are less afraid of losing them.
Precisely for this reason, however, Pandora jewels can mist up earlier due to prolonged contact with the skin, or due to dust, or the wear of the plating. It is therefore important to regularly clean Pandora jewelry. For example, how to clean Pandora jewelry with pink alloy (but the method also applies to others)? Here’s how to do it: the tips are from Pandora itself. The shine of the metal can be maintained by regularly polishing the jewels with a soft cloth: just rub gently, paying attention to the surfaces where crystals or cubic zirconia are set. Too vigorous cleaning could ruin the subtle plating of Pandora Shine jewelry.
Often Pandora jewels, which are finished by hand in the laboratories that the Danish company has made in Thailand, also have details in colored enamel. Enamel is a very resistant material, but over time, perhaps because the jewel is subjected to contact with other objects, it could be damaged. Precisely for this reason it is better to avoid rubbing the jewel with too rough materials, which can make the situation worse.
The jewels can also be washed gently in warm soapy water to remove any traces of grease left by the skin. When still wet, jewelry can be cleaned better with the use of a soft bristle toothbrush. But, attention: it is better to avoid the use of liquids used for silver polishing and ultrasonic cleaning. Handle clean jewelry with care: it is better to store them separately to avoid scratches.
August is a hot month for Pandora: after announcing the results of the second quarter and presenting several new features of the Moments and Signature platforms, the Danish brand has announced a new name for its range of jewelry with diamonds created in the laboratory. The Diamonds by Pandora line now becomes Pandora Lab-Grown Diamonds. Clearer, because it does not create ambiguity or surprises for those who buy them: now it is immediately unequivocal that they are artificial diamonds. And transparency towards the consumer is also a request from the American authorities.
The new jewels will be presented at the end of the month, but the company has anticipated the new strategy, which includes 57 new styles in three new collections. Jewelery with synthetic diamonds will be part of several families: Pandora Nova, for example, concerns laboratory-grown diamonds with a brilliant cut, the classic round diamond for a solitaire ring, and a princess cut. The stones have a proprietary four prong setting.
Pandora Era is the line that proposes itself as a reinterpretation of the most classic jewels. Pandora Talisman, on the other hand, is a collection of pendants, but a luxurious one. Pandora’s lab-grown diamonds will be selected for fine cut, near-colorless, VS+ clarity and set in 14K white gold, 14K yellow gold, or sterling silver. They will weigh between 0.15 and 1 carat. They will initially be available in 700 stores and online, but only for the US, Canada, UK and Australia. Additional collections will launch by the end of October 2023 in Mexico and Brazil, with the full launch scheduled for Q1 2024. Pricing starts at $290.
Zodiac signs for Pandora
Jewels and zodiac signs: this time it is Pandora who proposes a collection linked to astrology. These are new pieces from the Moments collection. Zodiac signs are not the only novelty presented in summer 2023 by the Danish brand: earrings, rings, necklaces and bracelets with pendants made with engraved writing are added to the Moments line. The new geometric mesh introduced months ago is also used for the new jewels, which seems to have obtained a good acceptance: now it is enriched with two new finishes: yellow gold plating and 14-karat rose gold.
The charms dedicated to the zodiac are obviously centered on the symbols of the constellations, with pavé and the name of the sign engraved on the back. Two snake chain designs expand the possibilities of wearing the charms: the modular horseshoe pendant necklace and the new small modular hoop earrings, matching jewels the new friendship charms in the shape of traditional symbols of luck such as the horseshoe, the four-leaf clover and the hearts.
Pandora grows on new markets
Pandora traveling the world. But, unlike the Pandora’s box of Greek mythology, which contained all the evils that have poured into the world, the Danish jewelery brand of the same name distributes more and more bracelets and rings, necklaces and earrings on the globe. The economic results of the second quarter 2023 indicate an organic growth of 5%. Analyzing the result, it emerges that the growth on a like-for-like basis is +2%, while the +4% is due to the expansion of the network, i.e. the opening of new points of sale.
Business is not going the same way everywhere: in Europe sales are substantially the same as last year and in the United States Pandora has to resign itself to -4%, although it is improving. What is strong is the rest of the world, growing by +12%. The financial data also indicate a gross margin up to 78.1%, an increase compared to the corresponding period of 2022, but an Ebit (gross profit) of 20.2%, down by almost 2% compared to the previous year, due to a redistribution of costs and investments foreseen for growth. The company expects that at the end of the year it will be broadly in line with that of 2022.
The Danish company has released the data together with the guidelines of its strategy. Phoenix is the name given to the journey to make Pandora a global brand of affordable jewelry. The new jewels, according to the management, have a positive response. In particular, the geometric mesh bracelet is in good demand and supports the resilience of Moments, which neither grows nor decreases. Other platforms continue to post solid growth, with Pandora Me posting another double-digit quarter (+17%) and Timeless +7% LFL. Also arriving are new collections of diamonds produced in the laboratory. For the whole of 2023, Pandora expects organic growth between +2% and +5%, with EBIT at around 25%.
Pandora’s Secrets
Pandora is the most popular jewelry brand in the world. Everyone has worn or at least seen a Pandora jewelry up close. In 2022 Pandora sold three jewels per second. Yet not everyone knows the history of this company. For example, did you know that Pandora jewelry, which is a Danish company, is made in Thailand? And that its founder is a maniac of confidentiality, who doesn’t give interviews or even let himself be photographed? So much so that he bought a house in Singapore.
Pandora is the world’s largest jewelery brand with a turnover of DKK 26.5 billion in 2022 (approximately €3.5 billion or US$3.8 billion) and a retail network of approximately 2,500 stores, with 600 million customers on online stores alone, and more than 32,000 employees. But it was born from a simple family business. To be precise, by a couple: the Copenhagen goldsmith Per Algot Enevoldsen and his wife Winnie. After opening a small jewelry store in 1979 in Copenhagen, the two often traveled to Thailand to buy materials and jewelry to import. But, before Pandora became Pandora, the couple focused on wholesale. Indeed, in 1987 the retail was stopped.
After hiring a dozen designers, production was brought entirely to Thailand in 1989, where production costs were, and still are, much lower. The two, Per and Winnie Enevoldsen, moved to live in Bangkok with their son Christian, and were supplying affordable jewelery for the European mass market. The company has grown to include an assortment of rings, necklaces, earrings and watches, but has currently stopped producing them. One of the features of Pandora is also to protect some solutions, such as the metal alloys used, with a patent. The success of the bracelets with charms convinced the couple to focus on direct sales in the 2000s.
The bracelet with charms to compose and customize was the key to success. It was first launched in the Danish market. The couple first came up with the idea of creating a piece of jewelry with interchangeable charms that can be added and removed according to the wearer’s preference. The success convinced Pandora to focus on foreign markets, starting with Germany and the United States, then Australia in 2004. In 2005, the Danish company opened a large-scale artisanal facility in Gemopolis, the jewelery industry area in Bangkok. In 2017 it opened a factory in Lamphun, near Chiang Mai, in northern Thailand, and in 2018 another Triple A production site also in Gemopolis.
The Lamphun site is a real citadel. It employs over a thousand employees, almost all very young, who wear a burgundy uniform. Pregnant women add light blue aprons. There is also a spirit house, a small votive altar to the Buddha where employees can recite a prayer in the morning before going to work, but a room dedicated to Muslim prayers has also been provided. Not only. In addition to the canteen, there is a grocery store, a nursery, an infirmary, and even a DJ who creates music for the employees on the console and a digital space where programs are produced. In Thailand Pandora produces the jewels, but they are designed in Italy and Denmark.
Since its foundation almost a quarter of a century ago, Pandora has grown to become listed on the stock exchange, also thanks to the idea of creating a widespread chain of franchised stores. In 2008, the private equity fund Axcel acquired 60% of the company and two years later, in 2010, Pandora was listed on the Copenhagen Stock Exchange. The founders and their son Christian are now based in Singapore, where they have purchased two luxurious apartments in the Orchard area, in a condominium on Boulevard Vue. Facilities include a swimming pool, jacuzzi, spa suite with heated stone bed and sauna.
How to recognize the real Pandora jewels?
As with all successful things, there are those who copy. And there are also those who sell fake Pandora jewels. How to recognize the real Pandora jewels? The company itself explains it: all sterling silver jewelery is stamped with the capital letter S for silver, followed by the declared purity in parts of pure silver per thousand: S925 (92.5% pure silver). Additionally, all Pandora gold jewelry is stamped with a capital G for gold, followed by the purity, expressed in parts of pure gold per thousand in the gold alloy: 14k, G585 (i.e. 58.5% pure gold) or 18k: G750 (75% pure gold). However, the quality marks on Pandora jewelry manufactured before June 2011 only contain numbers, not letters.
The standard trademark on Pandora jewelry is ALE, which stands for Algot Enevoldsen, the father of the brand’s founder, Per Enevoldsen. The letters ALE are stamped on the jewels, except on some of the smaller pieces. However, some countries require other specific stamps for jewelry and Pandora obviously complies with the requirements by adding additional stamps.
Why is it called Pandora?
According to Greek mythology Pandora was the first woman. Zeus, the king of the gods, commissioned Hephaestus (a god of fire) to fashion a woman from the earth, upon whom the gods bestowed their choicest gifts. Pandora thus had a box with all sorts of misery and evil inside. When the jar was opened, out of curiosity to see what was inside, evils flew to Earth, except hope.
Sea-flavoured Pandora
Pandora for the summer. The most popular jewelery brand as always renews its proposals with the arrival of the summer. And for 2023 here is the Pandora Moments collection dedicated to summer. New pendants, new charms, rings and earrings inspired by the marine sky and the animal world. Turtles, jellyfish, but also butterflies, the sun and the moon become elements of the bracelets and necklaces. They are all made of silver, even in the 14-karat gold-plated version, together with materials such as painted crystal, Murano glass.
But also synthetic stones, such as the opal created in the laboratory, or enamel. Light blue is the dominant color, but there are also pink and blue, as well as yellow and silver used for metals. For example, the new Bee pendant has a body made from a cabochon cut yellow crystal and hand painted with black enamel. Or the Butterfly pendant has shaded blue Murano glass wings, held in place by folded tips.
A novelty is represented by the introduction of a new bracelet in blue woven leather, as an alternative to the classic silver version. An option that probably aims to reach an even wider audience with a cheaper solution. Fun fact: Pandora claims that each piece passes through an average of 25 different hands of craftsmen.
Pandora in the waves with the Little Mermaid
If you’d like to swim in the sea like a fish, but without giving up a certain outfit, you’ve probably dreamed of looking like the Little Mermaid at least for a moment. And if the romantic story of the aquatic woman has moved you, you might like the new Disney x Pandora series dedicated to the Little Mermaid. Sea, fish, waves and love: a mix that the Californian production company proposes again with the new edition of the film interpreted by real-life actors, plus a gigantic dose of special effects.
The complete collection consists of seven jewels, such as 14-karat gold-plated shell-shaped earrings (79 euros), or the 14-karat gold-plated Conchiglia Magica pendant (69), engraved with the message My voice is a treasure on the spiral . Each piece is crafted in sterling silver or 14-karat gold-plated, with colorful accents. The charms of the collection can be collected and combined with the different Pandora Moments, Studded and Snake links. Highlights are the Ariel charm, crafted in sterling silver with an iridescent mermaid tail, the silver dangle charms Sebastian and Ursula, representing the movie’s favorite sidekick and notorious villain, each crafted with lacquered faux pearls, and a shell charm that sparkles with 14K gold plating.