International News
Pandora Lowers 2025 Profit Outlook Amid Tariff Concerns and Weaker Dollar
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.
In a landmark move toward ethical luxury, Chaumet has announced its commitment to 100% gold traceability across all its jewellery collections, beginning in 2025. This initiative will debut with the launch of a new Bee de Chaumet pendant, crafted entirely from responsibly sourced, traceable gold.
With a legacy spanning over 240 years, Chaumet has long drawn creative inspiration from nature—an ethos now deeply embedded in its sustainability journey. As part of the LIFE 360 programme led by parent group LVMH, the Maison is strengthening its environmental and social responsibility efforts, reflecting a broader commitment to nature conservation and ethical craftsmanship.
A member of the Responsible Jewellery Council (RJC) and supporter of the Kimberley Process, Chaumet has also joined the Swiss Better Gold Association (SBGA), which champions sustainable development in artisanal mining communities.
The upcoming Bee de Chaumet pendant, adorned with the brand’s iconic bee motif, symbolizes this ethical shift. Every component—from the pendant and chain to clasps and rings—is made from gold that is 100% traceable and sourced through verified, responsible channels.
While not claiming to transform the mining industry overnight, Chaumet’s initiative marks a significant step in promoting transparency and integrity across the jewellery value chain—setting a high standard for the future of sustainable luxury.
As part of its outreach campaign for the upcoming Saudi Arabia Jewellery Exposition (SAJEX) and IIJS Premiere 2025, the GJEPC recently concluded a door-to-door initiative in Kuwait, engaging directly with key players in the local jewellery industry.
The GJEPC team met with 92 top retailers from key markets including Al Mubakariya, Souq Al Wataniya, Souq Al Sharq, and the Farwaniya Gold Market.
The focused meetings with leading retailers, manufacturers, and wholesalers, offered insights into the Kuwaiti market’s preferences and dynamics. The response was highly encouraging, with strong interest expressed in attending SAJEX 2025, which is set to become a vital networking hub for the jewellery industry across the MENA region.
International News
De Beers CEO Al Cook Engages with GJEPC Leaders During Strategic Visit to Mumbai Office
Al Cook, CEO of De Beers Group, visited the Gem & Jewellery Export Promotion Council (GJEPC) office in Mumbai, reinforcing the group’s commitment to deeper collaboration with the Indian diamond industry. He was accompanied by senior executives including Paul Rowley, Executive VP – Diamonds Trading; Shweta Harit, Global Senior VP; and Amit Pratihari, VP of De Beers Forevermark India.
The visit follows the successful joint launch of the Indian Natural Diamond Retailer Alliance (INDRA) earlier this year—a strategic initiative to boost India’s natural diamond retail ecosystem.
Mr. Cook and his team were welcomed by a distinguished delegation from GJEPC, including Shaunak Parikh, Vice Chairman; Russell Mehta, Advisor to the Chairman; Ajesh Mehta, Convener – Diamond Panel; Diamond Panel Members Anoop Mehta, Nilesh Kothari, Anil Virani, Manish Jiwani, Ashish Borda; and Sabyasachi Ray, Executive Director.
The meeting featured in-depth discussions on pressing industry topics such as traceability, G7 compliance, funding challenges, U.S. tariffs, and marketing strategies, aimed at strengthening India’s global competitiveness in the diamond sector.
The engagement signals a continued partnership between De Beers and GJEPC to drive growth, innovation, and transparency across the diamond value chain.
-
BrandBuzz2 months agoMia by Tanishq Unveils ‘Fiora’ Collection This Akshaya Tritiya: A Celebration of Nature’s Blossoms and New Beginnings
-
GlamBuzz1 week agoGokulam Signature Jewels Debuts in Hyderabad with Glamorous Launch at KPHB
-
National News1 week agoEmmadi Silver Jewellery Launches First Karnataka Store with Grand Opening in Bengaluru’s Malleshwaram
-
DiamondBuzz1 week agoDe Beers CEO: confident the US will exempt diamonds from reciprocal tariffs