Danish jewelry maker Pandora attributed its recent market share gains to targeted marketing strategies, including high-profile campaigns featuring celebrities like Pamela Anderson. Despite a stagnant overall market, the company reported a notable 12 percent year-on-year organic sales growth between October and December. Thereby surpassing its own full-year forecast of 5-6 percent.
Anders Boyer, Chief Financial Officer, emphasized Pandora’s role in driving organic growth, particularly in contrast to a global downturn in the general jewelry market. The company’s shares have surged by 80 percent over the past year and were trading at their highest level since June 2016.
Pandora’s focus on “affordable luxury” with a fresh-faced Pamela Anderson was a notable achievement. Still, Boyer highlights the brand’s longstanding recognition as the world’s most well-known jewelry brand, as part of the success.
The full-year operating profit margin remained at 25 percent, and fourth-quarter revenue increased to 10.8 billion DKK, up from 9.9 billion in 2022. For the entire fiscal year, revenue reached 28.1 billion DKK, compared to 26.5 billion in 2022.
The success of the Pamela Anderson campaign underscored Pandora’s effective strategy in leveraging celebrity partnerships to drive sales and brand visibility in a challenging market environment.
Source: Reuters
