How is Pandora responding to the impact of US tariffs?

Pandora is preparing for a 450 million Danish krona (£52 million) financial hit next year due to US tariffs on products it ships from Southeast Asian countries. To mitigate the costs, the company is considering further price increases and exploring measures like shifting supply sources for materials destined for the US market.

What factors are contributing to Pandora's rising costs?

Pandora has faced soaring silver and gold prices, leading the company to implement a series of price increases over the past year to offset the higher commodity costs.

How is Pandora's global performance compared to its UK sales?

While Pandora's total global revenues grew 3% year-over-year, its UK sales dropped 9%, which the company attributed partly to a weak end-of-season sale.

Home / Business and Economy / Pandora Braces for Financial Hit from US Tariffs

Pandora Braces for Financial Hit from US Tariffs

15 Aug

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Summary

Pandora's UK sales drop 9% due to weak end-of-season sale
Company faces 450 million Danish krona hit from US tariffs next year
Pandora raising prices to mitigate impact of higher commodity costs

Pandora Braces for Financial Hit from US Tariffs

As of August 15, 2025, the Danish jewelry brand Pandora is navigating a complex business environment. The company has reported a 9% drop in its UK sales, which it attributes partly to a weak end-of-season sale. This decline comes as Pandora grapples with soaring silver and gold costs, leading it to implement a series of price increases over the past year.

Pandora's global revenues, however, have seen a 3% year-over-year increase, reaching 7.1 billion Danish kroner (£820 million) between April and June. The company, which operates around 6,900 stores and concessions worldwide, is the largest jewelry brand globally, specializing in accessible luxury pieces made from recycled gold and silver.

Despite these positive global figures, Pandora is bracing for a significant financial hit in the coming year. The company has been impacted by US tariffs on products it ships from various countries in Southeast Asia, including Thailand, China, Vietnam, and India. Pandora estimates this will result in a 450 million Danish krona (£52 million) impact in 2026.

To mitigate the effects of these tariffs and rising commodity prices, Pandora is considering further price increases and exploring measures such as shifting supply sources for materials destined for the US market and shipping jewelry directly to Canada and Latin America, bypassing its US warehouse. The company is also ramping up its marketing efforts to attract more customers in the second half of 2025.

Despite these challenges, Pandora's president and CEO, Alexander Lacik, remains optimistic, stating that the brand's "unique storytelling proposition" continues to attract consumers, and the company's "global footprint enables us to balance ups and downs across the market."

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