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Pandora Lowers 2025 Profit Outlook Amid Tariff Concerns and Weaker Dollar

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Danish jewellery giant Pandora has trimmed its 2025 profit margin forecast, citing a decline in the U.S. dollar and potential cost pressures from looming U.S. tariffs. The company, which counts the U.S. as its largest market, now expects its earnings before interest and tax (EBIT) margin to be around 24% for the year—down from its previous estimate of approximately 24.5%. However, it maintained its organic growth target of 7–8%.

The charm bracelet maker faces mounting risks if former U.S. President Donald Trump reinstates a 37% “reciprocal” tariff on goods from Thailand, home to Pandora’s two key manufacturing sites. While the tariff has been temporarily paused for 90 days to allow negotiations, Pandora warned of significant cost implications depending on the outcome.

If existing tariffs remain, Pandora estimates a hit of 250 million Danish crowns ($38 million) in 2025 and 300 million crowns annually thereafter. But if the full 37% tariff returns, the impact could rise to 500 million crowns this year and 900 million annually—though lower than the company’s earlier forecast of 1.2 billion crowns annually. The downward revision reflects plans to reroute product shipments directly to Canada and Latin America by 2026, bypassing its current U.S. warehouse in Baltimore.

“In both scenarios, Pandora will consider further price increases,” the company stated, signaling more potential cost burdens for U.S. consumers. The jeweller already implemented a 4% price hike in April, following a 5% increase in October, driven by the surging cost of silver.

Despite the challenging backdrop, Pandora’s first-quarter revenue stood at 7.35 billion Danish crowns ($1.12 billion), slightly above analyst expectations, with organic growth at 7%.

“We are pleased with how we’ve started the year, especially given the very high volatility in the world around us,” said CEO Alexander Lacik. Still, the company acknowledged ongoing economic uncertainty as it continues to invest in marketing and brand strength.

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DiamondBuzz

De Beers Group Launches “Heera Hai Aapke Liye” Program at IIJS Bharat Signature to Revolutionize Natural Diamond Accessibility in India

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De Beers Group, the world’s leading diamond company, marked a significant milestone in the Indian jewellery landscape with the official launch of the “Heera Hai Aapke Liye” program at IIJS Signature. The star-studded event featured actress Sonakshi Sinha, who joined Shweta Harit, Global Senior Vice President of De Beers Group and CEO of Forevermark, to unveil an initiative dedicated to making natural diamonds an integral part of daily life for the modern Indian consumer.

The “Heera Hai Aapke Liye” (Diamonds are for You) program is strategically designed to promote natural diamonds by raising awareness, boosting market visibility,and creating a seamless connection between retailers and consumers. With a focus on modern designs and attractive price points, the program also lets local retailers use De Beers Group campaigns as their own—second-piercing earrings, ‘Bestie’ bracelets, and ‘Intention’ pendants. It positions diamonds as a lifestyle choice for self-expression and daily wear.

Speaking at the launch, Shweta Harit, Global Senior Vice President of De Beers Group and CEO of Forevermark, detailed the evolution of the brand’s storytelling, stating, “De Beers Group has a rich legacy of creating iconic ritual campaigns that have shaped how the world perceives diamonds. With ‘Heera Hai Aapke Liye,’ program we are evolving that narrative for the Indian market to another level.

We are not just selling jewellery, we are making natural diamonds more accessible and desirable in India. Our goal is to empower retailers through INDRA (Indian Natural Diamond Retailer Alliance)  to ensure that every ‘First Diamond’ journey is as credible as it is beautiful.”

Kirit bhansali

Speaking on the occasion, Kirit Bhansali, Chairman, Gem & Jewellery Export Promotion Council (GJEPC), said, “IIJS has always been a powerful platform for shaping the future of India’s gem and jewellery industry, and the launch of ‘Heera Hai Aapke Liye’ at IIJS Signature reinforces that role. GJEPC is proud to partner with De Beers Group on the INDRA (Indian Natural Diamond Retailer Alliance) project, which is a critical step towards strengthening domestic demand for natural diamonds.

By empowering retailers, enhancing consumer confidence, and expanding access across metros and Tier 2 markets, this initiative aligns perfectly with our vision to grow the natural diamond category sustainably within India.”

The program ‘Heera Hai Aapke Liye’, rests on few strategic pillars aimed at industry growth and scalability:

  • Stocking & New Consumer Opportunity: Identifying gold wholesalers and distributors across 15–20 cities to focus on a first-phase target of 500 retailers.
  • Retailer Advantage: Providing a “Design Advantage” and strict “Product Hygiene,” backed by a clear buy-back policy and robust training and marketing support via the INDRA alliance.
  • Heera Hai Aapke Liye is robust entry-level product kit featuring earrings, bangles, bracelets, etc supported by exclusive visual merchandising (VM) for display.
  • Growth and Scalability: A PAN-India reach strategy designed to unlock new business opportunities for both manufacturers and retailers.

As India continues to grow as the world’s second-largest market for retail diamond jewellery, De Beers Group remains committed to strengthening the natural diamond narrative. By combining the emotional appeal of natural diamonds with the practical “Heera Hai Aapke Liye” framework, De Beers aims to build a sustainable future for the category across both metros and Tier 2 cities. De Beers and GJEPC aim to expand the base of Natural Diamond buyers, increase self-purchase consideration, and establish long-term credibility for the category.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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