Pandora warns us that tariffs will cause jewelry price to increase
A charming bracelet in a Pandora store in Denmark, Copenhagen.
Bloomberg | Getty pictures
Denmark jewelry brand Pandora US President Donald Trump warned a significant price increase in the increase in the increasing tariff increase in the proposed tariff growth.
CEO Alexander Lacik told CNBIK that most imports were “manageable”, but these tariffs would change the game for jewelry manufacturers to return to “mutual” rates.
“The most jewelers in the price segment of the operation, all of them import from one place in Asia. Thus, if these tariffs remain, it will be more expensive for everyone who plays,” said Lacik Charlotte reed.
“Therefore, we must wait for the consumer price to do a change for this,” he said.
Pondora, known for popular attractive bracelets and silver jewelry, depends on Asia, especially Thailand, Vietnamese, India and China.
These countries were shot on April 2, President Trump “Freedom Day” tariff announcement With mutual tariffs ranging from 26% to 46%. The next day is prompted Struck significant potential The Group Reviews worth 1.2 billion Dani ($ 182 million) in the year.
President Trump later announced a 90-day break And the lowest 10% tariff rate for most other countries in China, it ends, even if the extent that the extent is currently the end, it ends in early July.
When the tariffs were left in place, the consumers asked what levels were growing, and Pandora modeled a number of scenarios, but the last digit has industrial management.
“We can all speculate: 34 (%) or 40 (%),” he said. “We did a number of different scenarios. But we do not operate in the prison, so we must see what the rest of the industry is doing.”
If the tariffs remain at 10%, Lacik said that the company is unlikely to increase prices. However, if he rises to about 30%, “the world changes.”
“There are different ways to think about it, so let’s see where it is located.”
A flat sterling silver pandora bracelet is currently $ 75, the company’s laboratory diamond rings are obtained from $ 200.
Pandora maintained up to 2025 leaders from 2025 to 8% when marking the “high macro uncertainty” on Wednesday. However, about 24% of the Lacik, which belongs to the weakness of the US, reduced the management of the management of the operating interest in about 24%.
The revised management excludes the imposition of potential tariffs beyond the 90-day break. However, the company said that the situation will provide an update on the potential impact as it is clarified.
“What we do not change is expected that the expected changes due to the fact that the tariffs are expected, because today we do not know,” Lacik said.
Pandora shares traded 2.3% with London time in 1:55.
Pandora uses US production
Pandora currently employs 8,000 people in the United States, first of all along the stores. However, Lacik dismissed the prospect of transfer to the United States – the main strategic purpose of the president’s tariff agenda – no “materiality”.
“The US labor value will be completely possible,” he said. “So if we would do this, the price of consumer would have to rise significantly.”
Expenditures, Jewelry CEO, said that the country is not a suitable skill base to prepare the handicrafts of Pandora.
“I hire up to 15,000 artists in Thailand,” he said. “It really can’t find a quantity of talent in the United States, so it is not so much to start, it is not so much to start with a qualified people who can really prepare jewelry.”
However, more than expenses and labor, Lacik said the United States did not want to increase the investment due to uncertainty. Among other sectors, including pharmaceutical and autos, companies make billions of dollars to produce in the country.
“All this is what worries about how much it is, it cannot be predicted,” Lacik said. “I think the preaching of these things sitting in the business side of the people.”
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