Pandora experienced a significant 11 percent revenue growth in the third quarter of 2024, but the Chinese market stands out with a 33 percent revenue decline.
The Danish jewelry producer recently published its quarterly financial report, which reveals strong global demand alongside challenges in China, where a reduced marketing effort has notably impacted sales.
Sales in Europe only increased by four percent, while the U.S. performed slightly better with a six percent growth. However, China stands as the largest contrast to the global growth, which could have significant implications for Pandora’s future strategy in the region.
Pandora’s total revenue for the quarter reached 6.1 billion DKK—a record for the company—and operating profit rose to 980 million DKK. The company’s leadership, headed by CEO Alexander Lacik, remains optimistic despite the decline in China and has raised expectations for full-year revenue growth, now projected to land between 11 and 12 percent.
Source: Ritzau
