Pandora UK sales surge by over 50% in 2015

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Pandora sales in the UK surged by over 50% in 2015 to DKK 2.248 billion (£259.3 million).

Worldwide group revenue in 2015 was DKK 16.7 billion (£1.74 billion), an increase of 40.2% or 28.9% in local currency.

Forward guidance for the Danish jewellery suggests growth next year will slow to around half the rate of 2015 with a forecast of DKK 19 billion (£1.98bn) in sales. Pandora’s share price dropped over 11% on the news before recovering some ground by midday.

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The whole jewellery industry is preparing for a global downturn as weakening economic growth affects consumer confidence.

Conservative forecasting for 2016 cannot take the shine of another spectacular year for Pandora in 2015.

The brand has become a household name in its target demographic, with seven out of 10 women knowing Pandora. The company’s online Pandora Club now has 7.9 million members, almost half of which have created wish lists that give the company valuable insight into what customers want.

In 2015, the company spent 9.6% of its revenue on marketing, an increase of 40.2% compared with 2014.

Responding to the results, Anders Colding Friis, CEO of Pandora, said: “With 2015, another great year for Paondra has come to an end. A strong top-line development added almost DKK 5 billion to our revenue, which was broadly distributed between geographic regions and product groups, all delivering double digit growth rates. Our focus on the branded store network continued and during the year we added almost 400 new concept stores globally. The strong top-line development was also reflected in our EBITDA, which increased more than 40%.”

The UK now has 195 concept stores, only a handful of which are run directly by Pandora.

 

 

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