Pandora said the company grew 7 per cent in the first three months of 2025, supported by solid marketing investments and network expansion.

Driven by the company’s ongoing implementation of its “Phoenix” strategy, Q1 revenues reached DKK7.35 billion (approximately US$1.11 billion), up from DKK6.83 billion (around US$1.03 billion) in Q1 2024. 

Alexander Lacik, president and CEO of Pandora, commented, “We are pleased with our strong start to the year, especially amid the macroeconomic volatility. Our strategy is proving successful, and we are seeing more consumers engage with our brand. As we continue to execute on our Phoenix strategy, we remain confident in our growth trajectory.”

Like-for-like (LFL) growth in Q1 stood at 6 per cent while network expansion rose 4 per cent. The US saw an 11 per cent LFL growth while major markets in Europe posted a 2 per cent dip, although overall, Europe grew 4 per cent, fuelled by gains in Spain and Portugal. Growth in other markets remained solid at 8 per cent.

Pandora has maintained its full-year guidance for 2025, expecting organic growth in the range of 7 per cent to 8 per cent but said it is taking note of an “elevated macro uncertainty.”

“Pandora is actively preparing for various scenarios related to the US tariffs and will provide an update as the potential impact on the 2025 guidance and 2026 targets becomes clearer,” remarked the jeweller.