Jewellery specialist Pandora has unveiled a major retail expansion for the coming year after it reported a strong “growth” period throughout Q4 of 2023.
Over 2024, the retailer is planning to open between 75 and 125 concept stores, as well as 25 to 50 owned and operated other points of sale.
As such, it forecasted its capital expenditure (CAPEX) to end at 6 to 7 percent share of revenue, as it continues to scale investments into the store network with the roll-out of Evoke 2.0, a refreshed store format which will be integrated into all new stores from this year onwards.
This latest news confirms plans Pandora revealed last year to target the opening of 225 to 275 concept stores and 175 to 225 owned ‘shop-in-shop’ openings by 2026.
Here, the company said that it expected around 3 percent CAGR organic revenue contribution annually over the course of 2023 to 2026.
It also comes as Pandora reported “strong” trading for the holiday season, with sales in Q4 rising 12 percent to 10.82 billion Danish kroner.
Growth in Europe remained solid at 5 percent, while in the US sales increased by 10 percent, and the rest of Pandora continued double-digit growth at 16 percent.
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