Pandora unveils plans to open hundreds of stores

The company plans to open hundreds of new stores in the coming years.

The jewelry brand Pandora has set new financial targets for revenue as part of its Phoenix development strategy. Pandora expects its revenue to reach USD 4.8 to 5.1 billion) by 2026, according to a press release published on Thursday.

Pandora has unveiled these new financial metrics in line with its Phoenix strategy, launched in 2021 to ensure profitable growth. Over the period from 2023 to 2026, the brand plans to achieve average annual growth rates ranging from 7% to 9%.

“Looking back at the past few years, we are proud of our achievements. We have fundamentally changed our work, and the organization is much stronger. It’s clear that Pandora is a very different company today,” Alexander Lacik, president and CEO of Pandora, said in a statement. “It’s time to take Phoenix to the next level and our new financial targets reflect our confidence in the future.”

By scaling its growth, Pandora will increase investments in brand attractiveness and expand its store network. According to Pandora's presentation for the capital markets day on Wednesday, the company operates sales through over 6,500 retail points in more than 100 countries.

Pandora intends to enhance the capabilities of its stores, including expanding engraving services and aims to offer this in approximately 1,450 stores by 2024. From 2024 to 2026, the brand plans to open 400 to 500 stores, including concept stores and shop-in-shop locations, with the majority in North and South America. By the end of 2026, Pandora expects approximately 75% of concept stores to be company-owned and operated.

More about shopping malls in Denmark