Danish jeweller Pandora expects sturdy growth moving forward fuelled by solid sales across key markets and business coming in from new product platforms.

This, coupled with a positive performance in 2021, inspired the jeweller to raise its 2023 revenue target by about DKK 2 billion (around US$307.04 million) to DKK 27 billion to DKK 28.1 billion (around US$4.14 billion to US$4.31 billion), according to Alexander Lacik, president and CEO of Pandora.

The company recorded organic growth of 23 per cent in 2021 from 2020, exceeding guidance. 

Lacik explained, “Our strong growth was broad-based across key markets. Our investments in digital are clearly paying off. With this – and with network expansion accelerating in 2022 – I am confident that we have all the ingredients to deliver sustainable and profitable revenue growth in the years to come.”

The US market remained solid, recording sell-out growth of 39 per cent vs Q4 2019. China, a traditionally strong market, was negatively impacted by Covid-19 but Pandora said it continues to see "significant opportunities to grow” in the country.

The jeweller’s Moments platform continued to deliver satisfactory results, including a successful Christmas collection while new product platforms Pandora ME and Brilliance were also well-received.

Pandora is eyeing an organic growth of 3 per cent to 6 per cent in 2022.