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PANDORA IN 2016 • 5
BUILDING FOR THE FUTURE
2016 was a successful year for PANDORA. It was another
record-breaking year, with revenue exceeding DKK 20
billion. It was also a year of building for the future, a year of
constant improvement that has left us well placed to push
on towards our goal of becoming the world’s most loved
jewellery brand.
We reorganised internally in 2016 in order to sharpen
focus on collaboration between our regions and functions,
and ensure we are able to seize new opportunities as they
arise. It was a period of change for our people, but we
have been impressed by how our colleagues have reacted,
embracing the changes with the core PANDORA values of
pride, passion and performance.
As part of this work, we reorganised our regions and
now have three strong regions: the Americas, EMEA –
Europe, the Middle East and Africa – and Asia Pacific. All
three of our regions delivered solid growth in 2016, driven
by a combination of like-for-like sales growth and an
expanding store network.
In the Americas, we opened net 87 new concept stores,
and continued to expand our presence in South and Central
America. In our newly established region, EMEA, we are
building a strong region that will increase knowledge-
sharing in order to continue developing our markets.
Asia Pacific remained our fastest growing region, and we
strengthened our position in this region, particularly in
China, where we expanded our network of stores across the
country and launched our products online.
We can see from experience that the stronger the
representation of our brand, the stronger our retail
performance – and we concentrated on expanding our
branded store network in 2016. We celebrated opening
our 2,000th concept store, and ended the year with 2,138
concept stores, 2,027 shop-in-shops and 17 eSTOREs across
the globe. At the same time, we continued to strengthen our
focus on in-store execution to ensure our customers have
an excellent PANDORA shopping experience whenever
and wherever they meet us.
Around the world, our jewellery is more popular than
ever and we reached the milestone of crafting around
122 million pieces in 2016. We expect demand to keep
growing, and are increasing our production capacity to
keep pace.
The first part of this work is our new crafting facility in
Lamphun, near Chiang Mai in Northern Thailand. The new
facility was built in just over a year and it is testament to
dynamic teamwork and a positive can-do attitude.
In our ongoing efforts to expand our universe of jewellery,
we launched several new products in 2016 with good
reception among consumers. In addition, we sharpened our
focus on earrings, and we are excited by the potential this
category holds for us in the future. We also continued to add
to our existing collections, and launched PANDORA Rose
globally following its success in the US and the UK.
Research shows that there is an increasingly confident
generation of women with more spending power than ever
before – and we evolved our brand in 2016 to give us an
even stronger connection with this increasingly powerful
group of consumers. This included launching a number of
new marketing campaigns that celebrate women both as
unique individuals and as part of strong collectives, and we
saw our brand awareness grow in both new and existing
markets.
None of our achievements in 2016 would have been
possible without the dedicated people who make up our
company – and we would like to take a moment to thank
all of our colleagues, who worked hard to make 2016 such
a successful year. Also, on behalf of PANDORA’s Board of
Directors, Management Board and employees, we would
like to thank our consumers and shareholders for their
continued trust and support.
Anders Colding Friis
Peder Tuborgh
President & Chief
Chairman of the
Executive Officer
Board of Directors