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.
International News
Van Cleef & Arpels Gives Its Iconic Alhambra a Pink Enamel Makeover
The Maison Introduces Five New Alhambra Creations Featuring Translucent Pink Enamel and Yellow Gold
Van Cleef & Arpels has unveiled a vibrant new chapter for its iconic Alhambra collection, introducing translucent pink enamel to the signature four-leaf clover motif for the first time. The new creations combine the Maison’s emblem of luck with yellow gold, bringing a fresh, contemporary expression to the enduring design.
The new five-piece selection comprises a Vintage Alhambra pendant, five-motif bracelet, 10-motif necklace, 20-motif long necklace and Magic Alhambra two-motif earrings. The earrings additionally feature guilloché yellow gold, adding texture and contrast to the pink enamel.



The distinctive pink is the result of several years of research at Van Cleef & Arpels’ enamel workshops. Inspired by the historic 17th-century “gold-ruby” technique, the colour is created using fine particles of gold rather than traditional pigments. Carefully controlled particle size, shape and concentration produce the desired translucent hue.
Adding to its visual depth, the enamel contains tiny bubbles, giving each Alhambra motif a distinctive character while creating subtle variations as the surface catches and reflects light. The motifs are framed by the Maison’s signature gold beaded contours, further enhancing the interplay between the pink enamel and yellow gold.
Since its debut in 1968, Alhambra has continually evolved through different stones, materials and colours while retaining its instantly recognisable four-leaf clover silhouette. The introduction of enamel marks another significant step in that evolution, bringing together heritage craftsmanship, technical innovation and contemporary colour.
With its new pink interpretation, Van Cleef & Arpels continues to reinvent one of jewellery’s most recognisable motifs, demonstrating how traditional savoir-faire can give a familiar icon an entirely new expression.
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