The jewellery specialist Pandora hailed 11% organic growth in its third quarter after focusing on investing in customer experience and brand perception.
The new Pandora Essence collection drove a revenue of DKK920m (£18.8m), which the retailer said was appealing well to consumers, and building on the brand’s strong reputation for personalised jewellery.
The group’s engraving services grew more than 100% in Q3 2024, with an estimated 1,250 engraving machines installed globally.
Over the last 12 months, Pandora expanded its store network by 5%, opening 155 concept stores and 106 Pandora shop-in-shops.
The group also reported particularly strong growth in its online channel, which represented an 18% share of total revenues in the period.
Pandora said, moving forward, it aims to continue delivering sustainable and profitable revenue growth through executing on its Phoenix strategy.
Pandora launched its Phoenix strategy in 2021, which focuses on investing in brand perception, leveraging consumer insights to inform product design, investing in its core market, and personalising customer experience.
Pandora chief executive officer Alexander Lacik said: “We are transforming the perception of Pandora into a full jewellery brand and unlocking the next chapter of our growth by attracting more consumers to our brand.
“Step by step we are capturing the many untapped opportunities, and we will continue to invest in our strategic growth initiatives.”
As part of the promise to “transform the perception of Pandora into a full jewellery brand”, the new flagship store in Copenhagen focuses on delivering bespoke services to customers such as a style studio to curate their own jewellery looks.
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