Australian revenue increased 37 per cent for the full year compared with 2015. Although the exact sales figure was not disclosed, Australia accounted for about 40 per cent of Asia Pacific’s total sales and therefore, revenue roughly equated to DKK1.54 billion (AU$205 million).
According to a Pandora statement, the positive result was primarily driven by double-digit same-store sales increases throughout the year and the opening of 11 concept stores in Australia.
The ‘best-performing’ store in terms of sales was Pandora’s Pitt Street outlet in Sydney.
With a 500 per cent increase in revenue since 2012, Pandora Australia finance vice president Warren Goode said achieving the ‘top spot’ had been a company objective for some time.
“The results are a collective achievement, with great people in store leading the way, supported behind the scenes by a cast of thousands all striving to achieve the same goal of providing an exceptional consumer experience that has delivered exceptional results,” he explained.
Goode added that 2017 would be another solid year for the region.
“We will continue to focus on our consumer experience and in store execution, laying a solid foundation to entice repeat visits from our consumers time and again,” he said.
Global context
The company’s overall sales for the year totalled DKK20.3 billion (AU$3.8 b), with brand-only – or ‘concept’ – store revenue increasing 37 per cent to DKK13.3 billion (AU$2.4 b).
The regional revenue breakdown for 2016 included: an increase of 46 per cent in Asia Pacific; 5 per cent in the Americas; and 27 per cent in Europe, Middle East and Africa [EMEA].
In terms of product categories, charm sales in 2016 increased 11 per cent to DKK12 billion (AU$2.2b) compared with 2015. Sales from bracelets rose 37 per cent to DKK3.7 billion (AU$690 million), rings increased 28 per cent to DKK2.6 billion (AU$485 million), and revenue from other jewellery categories was DKK2 billion (AU$373 million).
In 2016, Pandora focused on marketing earrings, and as a result sales from this category increased about 80 per cent.
Pandora is headquartered in Copenhagen, Denmark and has a presence in more than 100 countries with approximately 8,100 points of sale. According to the brand’s website, the company has more than 2,100 brand-only stores globally, including more than 175 across Australia and New Zealand. There are plans to add more than 275 concept stores worldwide in 2017.
The full 2016 financial report can be found here.
More reading
Pandora Australia continues sales momentum
Pandora Australia managing director to be transferred
Sales increase for Pandora, Michael Hill
Pandora sales yet to plateau
Pandora targets new jewellery category amid strong results