International jewellery retailer Pandora has reported a 12% growth in overall revenue and 10% like-for-like sales growth in its interim report for the second quarter of 2017.
Australia was identified as a key market, experiencing 12% growth in local currency with sales jumping from $63.5 million in Q2 2016 to $73.5 million in Q2 2017.
Pandora Australia also reported 10 new stores in the last 12 months, with only one new store opening since the first quarter of 2017.
Pandora CEO Anders Colding Friis said the company was happy with the results, noting that success in Australia and similar markets showed opportunity for greater expansion.
"We are pleased with the results for the second quarter delivering double digit top-line growth and continued healthy profitability.
"Markets like China, Italy, the UK, and Australia performed well, reflecting the significant growth potential for our product offering in both our newer and more developed markets.
"We also continue to make strides in improving the quality of our global store network and added net 70 new concept stores during the quarter.
"Our journey to become a full jewellery brand is progressing well, with revenue from rings, earrings and necklaces and pendants increasing by 23%. Meanwhile, sales of charms and bracelets also grew by 6% and 19% respectively.”