Why is Pandora selling platinum-plated jewelry?

Pandora is selling platinum-plated jewelry to address the impact of a significant increase in silver prices, which have more than doubled in 2025, affecting their production costs.

What are Pandora's revenue and profit margin expectations for 2026?

Pandora forecasts organic revenue growth between -1% and 2% for 2026 and expects an operating margin of 21-22% for the year, down from 23.9% in 2025.

How will Pandora produce its new platinum-plated jewelry?

Initially, Pandora will use a third party for its platinum-plated products before increasing its use of factories in Thailand and Vietnam.

Home / Business and Economy / Pandora Pivots to Platinum Amidst Soaring Silver Costs

Pandora Pivots to Platinum Amidst Soaring Silver Costs

5 Feb

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Summary

Pandora introduces platinum-plated jewelry to combat rising silver prices.
Company forecasts revenue growth of up to 2% for the year.
Operating margin expected to decrease in 2026 due to cost pressures.

Pandora Pivots to Platinum Amidst Soaring Silver Costs

Pandora, the renowned Danish jewelry manufacturer, announced on February 4, 2026, its strategic shift to selling platinum-plated versions of its popular bracelets. This innovative approach is designed to address the economic challenges posed by a substantial increase in silver prices, which have more than doubled in 2025, impacting production costs.

CEO Berta de Pablos-Barbier stated that this move allows the company to adapt to "new realities of raw material costs" while providing consumers with accessible precious metal jewelry suitable for daily use. Pandora, which also offers lab-grown diamond pieces, is additionally contending with U.S. tariffs and reduced consumer spending.

The company projects a modest organic revenue increase of up to 2% for 2026, with a potential decline of 1%. Pandora anticipates its operating margin (EBIT margin) will be between 21% and 22% in 2026, a decrease from the 23.9% recorded in 2025. The most pronounced impact on profitability is expected in the first quarter, with a gradual recovery anticipated throughout the remainder of the year.