Danish jeweller Pandora has raised its growth and revenue targets over the next three years amid a strong operational performance.

Pandora is eyeing organic growth of 7 per cent to 9 per cent from 2023 to 2026, comprising a 4 per cent to 6 per cent increase in like-for-like sales (up from 3 per cent to 5 per cent), and a network expansion of around 3 per cent (up from 1 per cent to 2 per cent). And it is also targeting an EBIT (earnings before interest and taxes) margin of 26 to 27 per cent by 2026. 

Revenue is expected to reach DKK 34 to DKK 36 billion (around US$4.8 to US$5.1 billion) in 2026, up from around DKK 27 billion (around US$3.8 billion) expected for 2023. EBIT, meanwhile, is expected to reach DKK 8.8 to DKK 9.7 billion (around US$ 1.2 to US$1.4 billion) by 2026.

According to Pandora, its Phoenix strategy has been yielding positive results since its launch in 2021. As part of this multi-pronged strategy to build a full jewellery brand in the affordable luxury space, the company said it will scale up investments in brand desirability and store networks to accelerate revenue growth.

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