Jewellery retailer to raise prices amid falling sales
Pandora charms could be about to get more expensive. Here’s why
- Pandora reported a 9 per cent decline in its UK sales, attributing the downturn to price increases implemented due to soaring silver and gold costs.
- Globally, the Danish jewellery brand saw its total revenues climb by 3 per cent on a like-for-like basis, reaching 7.1 billion Danish kroner (£820 million).
- The company is bracing for a 450 million Danish krona (£52 million) financial impact next year as a direct result of US tariffs.
- To mitigate the tariff costs, Pandora is exploring measures such as switching sources of supply and shipping jewellery directly to Canada and Latin America, bypassing its US warehouse.
- Pandora has already implemented several price rises since October 2024 in response to higher prices and is considering further increases to offset the impact of tariffs.