Does Pandora Have More Room for Growth as It Opens Its First US Flagship Store?

Pandora Jewelry has been a mainstay of the mainstream/luxury accessories category for some time, largely building its brand on the appeal of its variety of customizable charm bracelets and other fine jewelry. Now, as Forbes' Pamela N. Danziger noted, the brand is set to open its very first U.S. flagship store in Las Vegas, Nevada.

Pandora has been on a bit of a hot streak, reporting 7% growth in Q1 organic revenue globally, reaching $1.1 billion. The U.S. led the way with 12% growth — the brand’s largest and fastest-growing market, according to Danziger.

And despite heavy tariffs in play as issued by President Donald Trump — tariffs which could produce a $76 million impact on its American business this year, and $137 million in 2026, if current conditions remain in effect — it appears Pandora is pressing ahead to establish a stronger foothold stateside regardless of the outcome.

Danziger quoted CEO Alexander Lacik on Pandora's outlook on the current, and future, positions of the company.

“Despite the noises around us, we generally like to keep things simple in this company,” Lacik said to investors during the company's latest earnings call. "Pandora is and will be very profitable as [a] company."

Pandora Could Be Forced To Issue a Slight Price Increase if Tariffs Persist, but Not Necessarily

Despite recent price increases of 5% (as of last October) and a further 4% in April 2025, Pandora's CEO signaled that moving beyond its $60 average price in the U.S. market wasn't necessarily a given — should Trump's tariffs on supply chain contributors Thailand, Vietnam, India, Italy, and China remain in place.

Pandora CFO Anders Boyer was cited by Forbes as stating that there's no reason to assume the brand would enact "extraordinary price increases" in response to the tariff threat, and even if such pricing mix-ups were necessary, a "tailored approach" would be the line of best fit.

Lacik, for his part, pointed to Pandora's burgeoning strength as "a global player" in the international jewelry segment, suggesting that the company could actually improve its competitive appeal stateside, rather than weaken it.

“If I have a 10% price that I need to take — and I know everybody else needs to take it in the U.S. — I could decide I’m only taking three, but I take three globally and actually increase my local competitiveness in the U.S.,” Lacik noted, going on to say that this hypothetical was not a sure thing.

“But we have some maneuverability simply because we are a global player," the CEO concluded.

Pandora's Las Vegas 'Brand House' Flagship Store Features Charm Bar, Craftspeople at Work

Adding to the growing trend of experiential retail, especially among brands aiming to make a lasting impression on guests and social media alike, Pandora’s new Las Vegas flagship will feature a charm bar and live demonstrations by artisans crafting and hand-engraving jewelry.

First, the charm bar: Designed to resemble a poker table in keeping with the Sin City theme, those who visit are able to sample various charm combinations on the felt in order to come up with the perfect piece for their personal tastes.

"People can actually play with the jewelry,” said Luciano Rodembusch, Pandora’s general manager of its North America cluster.

Next, the Las Vegas Pandora location will be the first to have artisans on hand, working at their craft of enameling and engraving jewelry by hand as visitors look on.

“Every single piece that Pandora sells is touched by more than 20 human hands. It’s important to tell that hand-crafted story and show the level of craftsmanship in each piece,” Rodembusch said.

Finally, the store’s striking three-story facade is hard to miss — as is its emphasis on lab-grown diamonds (LGD), a rapidly expanding category that saw 22% growth for Pandora in 2024, far outpacing the 2% uptick in its core charms and bracelets segment.

Pandora's first U.S. flagship store opens on June 6 and is 3,000 square feet in size, around three times bigger than a typical store. The Las Vegas location was chosen because of its global appeal and constant flow of visitors from across the U.S. and around the world. The brand aimed to create something distinctive and inspiring for the city. As Rodembusch explained, the store represents "an important step for us to help shift the perception of Pandora to a full jewelry brand."