Pandora faced tough 2025 in UK but still invested in the market

Pandora UK’s accounts for 2025 show the British arm of the jewellery giant “maintained a solid platform” despite its turnover falling.

It dropped to £432.24 million from £441.3 million due to “wider pressure on consumers’ discretionary spending linked to higher inflation and mortgage rates”. 

Operating profit in the year also fell to £22.4 million from £23.5 million, which the company said was “broadly in line with the prior year despite the reduction in revenue”. But net profit rose to £12.6 million from £8.8 million.

It added that it “endeavoured to cover wage and inflationary cost pressures with targeted cost efficiencies to maintain a healthy operating profit”.

To counteract the effects of a weak consumer environment, it continued to invest in the brand through network expansion and refits, advertising and promotional activities and digitalisation activities. New product launches (the Essence collection) were key, along with the establishment of new, global and local partnerships “to further drive brand desire and consideration”.

There were 359 points of sale in the UK, of which 226 were concept stores. In the prior year there had been 292 points of sale, including 222 concept stores.

Pandora also said that the “market for jewellery in the UK is competitive and the company continues to focus on building the brand image” as well as diversifying the range and reducing risk.