Sales of Pandora jewelry, a company that is listed on the stock exchange, are booming. The quarterly results of the Danish jewelry giant testify to this. In fact, sales in the third quarter of 2021 increased by 9% compared to 2019 (2020, with the lockdowns and closures of entire cities, makes history itself). The strong growth was driven by Pandora’s largest platform, Moments, which experienced a completely sold-out growth of 11% compared to 2019.
Moments’ performance in the third quarter of 2021 was supported by the launch of Wearing bargains (keychain and bag), which produced an incremental 2% share of business in the quarter. In addition, it helped to re-engage consumers with the brand and Pandora and provided a positive effect to the performance of bracelets as well. The solid revenue performance was further supported by Pandora’s largest market, the United States, which accounts for 28% of revenue in Q3 2021 compared to 22% in Q3 2020. The United States, on the other hand, represent a strategic priority for Pandora. In the long term, the company’s goal is to double the US business compared to 2019.
The main European markets are also recovering strongly with the reopening of stores and a sell-out growth of 11% compared to 2019, while the performance in Asia, including China, remains weak, strongly influenced by the covid. Online sales rose sharply with + 94% organic growth compared to the 2019 quarter.