Global jewellery retailer Pandora has announced a staggering growth record of 39.5% in Australia during 2015.
Total revenue in the Australian market alone reached $240.62 million alongside the company's global profit of $3.58 billion.
Pandora is expecting revenue in Australia and New Zealand to increase by 30% from 2015 to 2018.
It will also roll out a net total of five to 10 concept stores per year in Australia until 2018.
Pandora president Australia and New Zealand Brien Winther said that domestic growth has been driven by sales of charms, bracelets and strong performance in the rings category.
“The results demonstrate that there is continued strong demand for Pandora in Australia.
“Like charms and bracelets, our approach to rings encapsulates Pandora’s concept of personalisation, giving women endless possibilities to express their unique style.”
Winther also said that executing more store openings this year should set the company up for a 10% profit spike by the end of 2016.
“Strong retail execution is extremely important to us.
“Our retail teams have done an exceptional job of providing a world-class experience for our customers, which in turn drives revenue.
“As we strive to become the world’s most loved jewellery brand we must continue to put the customer at the centre of everything we do.
“We’re focussed on long-term sustainable development.
“We launch new products seven times a year, ensuring freshness in our stores year round and a portfolio of highly commercial products.
“We believe the current growth will soften somewhat in 2016, however we still expect to exceed 10% this year.”
Pandora currently operates in over 100 countries globally.
The company was founded in 1982 and is headquartered in Copenhagen.