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Pandora Raises Sales Targets Under Positive Performance

During the recent capital markets day, Pandora shared updates on its Phoenix turnaround strategy and plans for the future, including sales targets and store expansions.


Pandora predicts revenue reaching DKK 34 billion (around $4.83 billion) to DKK 36 billion (around $5.11 billion) by 2026, a 26-percent to 33-percent jump from its estimated 2023 forecast of DKK 27 billion (around $3.83 billion). The brand is aiming for organic growth of 7 percent to 9 percent over the next three years, comprising a 4-percent to 6-percent increase in like-for-like sales, and a network expansion of around 3 percent.


The Phoenix strategy was first launched in 2021 as a multi-pronged plan to boost the brand, grow its core markets, and enhance the customer experience. Under the strategy, the brand has plans to accelerate its network expansion – it will open between 225 and 275 concept stores between 2024 and 2026, and 175 to 225 Pandora-owned shop-in-shops.


Market wise, expanding in the US market will be Pandora’s main focus. It expects to surpass its original target by 2025, forecasting revenue of DKK 9.4 billion (around $1.33 billion). It will also look to broaden its presence in China, having recently relaunched the brand in Shanghai. South Korea, Japan and India will also be on the list to enter.


Pandora CEO Alexander Lacik said: “We have fundamentally changed how we work, and the organisation is much stronger. It is clear that Pandora is a very different company today. This solid foundation, combined with a proven strategy that will build Pandora into a full jewellery brand, [will] now allow us to lift our growth target. It’s time to take Phoenix to the next level, and our new financial targets reflect our confidence in the future.”







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