Denmark-based jewellery company Pandora, which recently declared its financial results for Q3 2015, said its revenue for the period touched  DKK 3,911 million,  marking an increase of  37.5%   (28.0% in local currency) over Q3 2014. 

The Group performed well in all the regions it operates in, with  the Asia Pacific  Region registering the highest growth at 74.8% (62.9% increase in local currency). The Americas saw an increase in revenue of 22.7% (8.3% increase in local currency) for the period; while Europe’s revenue grew 40.7% (36.1% increase in local currency). Revenue from concept stores for Q3 215 increased by 49.3% and corresponded to 60.6% of the total revenue. 

Pandora’s  gross margin for Q3 2015 at DKK 2,893 million registered an increase of 74.0%, compared with a 70.3% increase in Q3 2014. Pandora reported net profit of  DKK 1,006 million for the quarter as against a net profit of DKK 725 million in Q3 2014, registering a growth of over 38.75%.

“The strong top-line development has continued in the third quarter of the year, and again all regions contributed to the growth,” commented Anders Colding Friis, CEO of Pandora. “Europe and Asia Pacific in particular did well, with both established as well as less developed markets continuing the positive momentum. Growth in the US was slightly softer than previous quarters primarily due to a change in promotion strategy in the region to further enhance our brand.”

In terms of products, revenue from charms stood  DKK 2,428 million in Q3 2015, an increase of 35.8% compared with Q3 2014;  while revenue from silver and gold charm bracelets increased by 8.8%.  Except for America, in all other major markets revenue from bracelets saw a double digit growth rate. These two categories taken together represented 72.8% of total revenue in Q3 2015 as compared with 76.5% in Q3 2014.

Revenue from rings grew strongly to DKK 616 million, marking an increase of 79.1% compared with Q3 2014. “The category continues to do well, driven by continued use of revenue generating initiatives in most markets including more emphasis on rings in staff training, improved in-store focus on rings, as well as successful Rings promotions across several markets,” Pandora stated. “The Rings category represented 15.8% of total revenue in Q3 2015 compared with 12.1% in Q3 2014.”

Revenue from Other jewellery stood at DKK 445 million, marking an increase of 36.9% compared with Q3 2014. “The growth was driven by revenue from Earrings and Necklaces, increasing by more than 80% respectively, compared to Q3 2014,” the Company said.  

In Q3 2015, Pandora opened a net of 112 new concept stores; taking the figure  of new concept stores opened in first nine months to  256.