Jewelry Industry: 100%
TOP 3 Markets:

1. USA: 25%
2. China: 15%
3. United Kingdom: 10%

Pandora A/S is a leading company in the jewelry industry, specializing in the manufacturing and sale of handcrafted jewelry. The company's entire revenue comes from this industry.

The USA is the largest market for Pandora, attributed to its strong brand presence and high demand for its products. China follows as the second largest market, with the company benefiting from the growing middle class and increasing popularity of Western brands. The United Kingdom is the third largest market, supported by an established retail presence and loyal customer base.

Main production location: Thailand

Pandora A/S produces the majority of its jewelry in Thailand. The company operates several state-of-the-art production facilities there, known for their efficiency and quality. These locations are crucial to Pandora's ability to offer its products worldwide at competitive prices.

Thailand is a strategically chosen location due to the availability of skilled labor and established infrastructure for jewelry manufacturing. Pandora continuously invests in expanding and modernizing these production facilities to meet the increasing global demand.

Revenue Growth: Estimated 10% annually (2025) Expansion of Retail Presence: +200 new stores (by the end of 2025)

Pandora A/S is pursuing a growth strategy focused on expanding its retail presence and strengthening its e-commerce platform. The company plans to open approximately 200 new stores worldwide by the end of 2025 to enhance its physical presence and tap into new markets.

Another key focus is on digitalization and enhancing customer experience through expanding their online distribution channels. Pandora is investing in technology to provide personalized shopping experiences and improve integration between online and offline channels.

Additionally, Pandora is focusing on product innovations, especially in the sustainable jewelry sector, to meet the growing consumer trends towards environmentally friendly products. This strategy is intended to enable the company to increase its market share and sustainably secure revenue growth.

Main raw materials: Silver, gold, gemstones

Pandora A/S mainly imports silver and gold, the essential materials for their jewelry production. Silver is often imported from countries like Mexico and Peru, which are among the world's largest silver producers. Gold is frequently sourced from countries such as South Africa, Australia, and Russia.

In addition, Pandora uses gemstones imported from various countries worldwide, depending on the type of gemstone. Synthetic stones, which are also used, may come from various technologically advanced countries.

Pandora places great emphasis on sustainable sourcing and is working to increase transparency in its supply chain to ensure that materials are responsibly sourced.

Market share: 7% of the global jewelry market (2024)

Revenue growth: 8.5% (2024)

Gross margin: 76% (2024)

Pandora A/S has established itself in recent years as one of the leading jewelry manufacturers worldwide. The company's competitive advantage lies in its strong brand recognition and the ability to offer trendy and customizable jewelry pieces that appeal to a broad target audience.

The high gross margin of 76% shows that Pandora is able to sell its products at a premium price, indicating strong brand loyalty and effective cost management. Furthermore, the company has a significant advantage over smaller competitors due to its global presence and well-established distribution network.

Pandora continuously invests in digital transformation and sustainability, which not only increases efficiency but also strengthens the brand image in an increasingly environmentally conscious market. These strategic initiatives help to secure the company's competitive advantage in the long term.

Institutional Investor Share: 65% (2025, estimated)

Insider Purchases: No significant purchases in the last year

Insider Sales: 2% of shares (2025, estimated)

The institutional investor share in Pandora A/S is approximately 65%, indicating a strong confidence from institutional investors in the company's long-term performance.

In 2025, there were no significant insider purchases, suggesting that the management may not see significant undervaluations of the company. However, about 2% of shares were sold by insiders, which could indicate profit-taking or personal financial decisions.

These movements should be viewed in the context of the overall market development and the specific company strategy.

Market Share Pandora A/S: 8% (2025, estimated)
Top Competitors and Their Market Shares:

1. Tiffany & Co.: 12%
2. Swarovski: 10%
3. Cartier (Richemont): 9%
4. Pandora A/S: 8%
5. Signet Jewelers: 7%
6. Chow Tai Fook: 6%
7. Bulgari (LVMH): 5%
8. Harry Winston (Swatch Group): 4%
9. Blue Nile: 3%
10. Zales (part of Signet Jewelers): 2%

Pandora A/S has secured a solid market share of approximately 8% in the global jewelry market. The market is highly fragmented, with several large and established brands competing for market leadership. Tiffany & Co. and Swarovski are the biggest competitors, each holding a higher market share than Pandora.

Pandora's moat lies primarily in its strong brand awareness and the unique concept of customizable jewelry pieces, especially the charms. This differentiation has helped Pandora stand out from other traditional jewelry providers.

However, some competitors, such as Tiffany & Co. and Cartier, have deeper moats due to their long history, exclusive brand images, and strong presence in the luxury segment. These factors provide them with a significant competitive advantage, especially in the high-end price range.

Overall, Pandora possesses a moderate moat, mainly strengthened by its innovation capabilities and the ability to quickly adapt to trends. Nevertheless, the competition remains intense, and the ability to continuously differentiate will be crucial for future success.

Revenue Growth: 8% (2024) Profit Growth: 10% (2024) Market Share in the Jewelry Sector: 7% (2024)

Pandora A/S recorded a revenue growth of 8% and a profit growth of 10% in 2024. These growth rates indicate a positive business development supported by a strong brand presence and innovative product lines.

The company has expanded its market share in the global jewelry sector to 7%, signaling successful expansion and an effective market strategy. Pandora has also increased its investments in sustainability initiatives in recent years, strengthening its brand image and potentially tapping into new customer segments.

Given these factors, Pandora A/S could be an attractive investment, especially for investors interested in long-term growth. However, it is advisable to also consider macroeconomic conditions and industry trends before making a final investment decision.

Dividend Yield: 5.2% (estimated for 2025)
Dividend History: Steady payout over the last 5 years

Pandora A/S has paid a consistent dividend in recent years, indicating a reliable payout policy. The estimated dividend yield of 5.2% for 2025 shows that the company continues to strive to offer attractive returns to its shareholders.

The reliability of the dividend is supported by the company's stable financial performance, including solid cash flow and a healthy balance sheet. Pandora has proven in the past that it is able to pay dividends even in economically challenging times, strengthening confidence in future payouts.