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Growth quarter for Pandora, which (also) invests in laboratory diamonds

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Growth quarter for Pandora, which (also) invests in laboratory diamonds

The positive trend of Pandora continues, the jewelery brand born in Denmark and today global and very well known and appreciated also in Italy, which is one of the main European markets. Listed on the Copenhagen Stock Exchange, Pandora announced the results for the second quarter of 2022, which closed with organic growth of 3% compared to the second quarter of 2021, of 17% compared to the second quarter of 2019) and in line with the guidance (the forecasts previously made by the same company) for 2022. Revenues for the period April-June reached 5.6 billion Danish kroner (approximately 760 million euros); profitability was also good: EBIT was 1.24 billion, equal to 22.1% of turnover and net profit of 934 million.

The driving factors

Pandora is one of the world leaders in jewelry: it has 6,800 stores in over 100 countries, with 27,000 employees and in 2021 the turnover was 23.5 billion Danish crowns, equal to 3.1 billion euros. In the second quarter, the growth is supported by the solid results of the Moments platform, supported by a strong performance of the collaborations and in particular of the new Marvel collection, the official note reads. “We are very pleased to see that our efforts continue to bear fruit, thanks to another quarter with record revenue. We have maintained solid growth compared to pre-pandemic levels, despite the negative impact of the closures in China and the difficult confrontation with the United States due to last year’s government subsidies – explained CEO Alexander Lacik. The execution of the Phoenix strategy was also successful: initiatives such as the expansion of the network, the development of new concept stores and the introduction of a new customer loyalty program are underway, just to name a few. We remain optimistic and encouraged by the growth opportunities that await us ». Pandora’s guidance for the full year 2022 remains unchanged. Organic growth of 4-6% and an EBIT margin of 25-25.5% are expected.

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I diamanti “made in Pandora”

On August 25, Diamonds by Pandora will be launched in the United States, which CEO Lacik has defined “another important milestone in our mission to democratize the jewelry market”. Pandora has decided to bet on lab-made diamonds following last year’s announcement to stop selling mined diamonds. The upcoming collection uses non-North American gems that are cheaper and more sustainable. The launch of the 269 stores in the US and Canada, as well as online, comes after last year’s pilot launch in the UK. “The diamonds created in the laboratory – explained Lacik – are as beautiful as the diamonds mined, but available for more people and with lower carbon emissions” (in the photo, a Pandora store in New York).

The importance of marketing and the lesson of mass consumption

Also significant was the appointment, a few hours ago, of Mary Carmen Gasco-Buisson, currently global vice president of Unilever, as chief marketing officer of Pandora. The manager will report to the company’s CEO, Alexander Lacik, and will join the executive leadership team. «Pandora is the largest jewelry brand in the world, enjoys strong recognition across markets and generations and is loved by millions of customers around the world. I am very happy to join this extraordinary brand and team and to help bring Pandora closer to even more people around the world, ”commented Gasco-Buisson. «I am delighted that Mary Carmen joins our team and helps us to realize the growth ambitions set with the Phoenix strategy – added Alexander Lacik -. You have tremendous experience building, expanding and transforming consumer brands globally. You have a deep understanding of today’s consumer and can translate this knowledge into innovative commercial strategies ».

Experience and multiculturalism

Born in the Dominican Republic and of US-Spanish nationality, Gasco-Buisson has extensive experience in the growth and transformation of consumer brands in various categories such as fragrances, beauty & personal care and women’s health. Since 2020 you have led the turnaround of Unilever’s iconic Ax brand, with over € 1 billion in turnover in more than 80 markets. Previously, she held senior positions at Procter & Gamble for 22 years. Among these, the role of consumer health ceo at P&G Ventures and the role of global marketing & innovation director for Hugo Boss Fragrances. You have also served in an executive role at venture capital firm M13 and advised a number of consumer and technology start-ups. The manager will join Pandora in the fall of this year and will work at the global headquarters in Copenhagen.

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