2024 proved to be another successful year for Pandora as the global jewellery brand reports 13% organic growth for the period. Growth was marginally up on guidance of 11-12%, comprising of like-for-like (LFL) growth of 7% and network expansion of 5%. Full year growth was bolstered by a strong fourth quarter.

Organic growth in Q4 2024 ended at 11% – comprising of 6% LFL growth and 5% network expansion. LFL growth in the quarter was driven by strong performance in the US market, which was up 9%.

The rest of Pandora delivered 11% growth for the quarter, while the brand’s key markets in Europe stayed level at 0%.

This growth reflects the successful delivery of the company’s Phoenix strategy, which sees Pandora elevate its positioning to that of a full jewellery brand – increasing consumer engagement and awareness.

Pandora continues to make notable investments in the four major pillars within the Phoenix strategy, which are collectively showing encouraging results.

The company’s objective to restage the Pandora brand is visible in is growth figures – LFL in the Core segment (existing collections) ended 2024 with 2% growth, meanwhile the Fuel with More (new, contemporary offerings) segment delivered 22% growth.

Following the successful testing of its brand-new e-commerce site in Q4 2024, Pandora is set to roll out the platform on a global scale throughout 2025. The new platform aims to step up Pandora’s brand desirability.

President and CEO of Pandora, Alexander Lacik commented on the results: “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.” 

Looking ahead, initial guidance for 2025 is set at 7-8% organic growth, with current trading in Q1 2025 showing LFL growth at high-single digit levels. The brand does note that early trading figures are somewhat elevated by a strong End of Season sale.