Solid brand positioning lifts Pandora Q3 sales
Pandora has sustained growth in the third quarter amid global uncertainties, thanks to steady consumer demand fuelled by its unique brand proposition.
The company reported organic growth of 3 per cent during the period in review. Revenues meanwhile rose 11 per cent year on year to DKK 5.26 billion (around US$706 million), buoyed primarily by its Phoenix strategy. Its biggest product platform, Moments, delivered 2 per cent sell-out growth compared with Q3 2021.
Diamonds by Pandora, the company’s lab-grown diamond initiative launched in North America on August 25, was likewise well-received, reaching 3 per cent share of sell-out in the region.
The brand is also on track to achieving its full-year guidance of 4 per cent to 6 per cent organic growth as it expects sales to strengthen further in the peak holiday months of November and December.
Alexander Lacik, president and CEO of Pandora, said, “Despite macroeconomic and geopolitical uncertainty, the shopping patterns of our consumers is so far largely unchanged. With strong financials and our position in affordable gifting, we are well-equipped to weather a potential recession and seize relevant investment opportunities.”