The world’s largest mass-market jewellery brand, Pandora, has published a preliminary fourth-quarter financial report outlining strong sales during the holiday season.
Revenue increased by 12 per cent, while like-for-like sales improved by nine per cent in the three months ending 31 December.
Total revenue for 2023 reached kr28.1 billion ($AU6.14 billion), a significant increase from the kr23.3 billion ($AU5.53 billion) in sales the previous year.
CEO Alexander Lacik said these results showed that the brand remains popular with consumers.
“We are very pleased with our results across the peak trading season and how we closed 2023. It’s clear that our brand resonates well with consumers and continues to gain strength,” Lacik said.
“The success in 2023 is also a testament to the great work of Pandora teams around the world, who have helped take the Phoenix strategy to the next level.”
Sales in the US improved by 10 per cent, while revenue in Europe increased by five per cent. Sales declined in China by 12 per cent.
According to chief financial officer Anders Boyer, the company will remain focused on appearances at fashion events in the new year.
“We’ve raised the game starting a year back, putting more money behind not just driving awareness of the brand, but driving desirability as well,” Boyer told WWD.
“We are participating in those kinds of events in order to show that even though we are an accessible luxury brand from a price perspective, we also know what’s on trend, and we can be part of creating what’s on trend as a company.”
Audited full-year results are expected to be published on 7 February.
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