--- title: "The world's largest jewelry retailer states it wants to \"break free from reliance on silver jewelry,\" and its stock price surged by 16%" description: "Pandora's CEO stated that the company will reduce its reliance on silver by introducing platinum-coated materials and expanding its product range, allowing it to maintain profit margins above 20%. As " type: "news" locale: "en" url: "https://longbridge.com/en/news/275081266.md" published_at: "2026-02-06T06:24:06.000Z" --- # The world's largest jewelry retailer states it wants to "break free from reliance on silver jewelry," and its stock price surged by 16% > Pandora's CEO stated that the company will reduce its reliance on silver by introducing platinum-coated materials and expanding its product range, allowing it to maintain profit margins above 20%. As silver prices have surged over the past year, Pandora's stock price has fallen by approximately 60% over the past 12 months Global sales leader in jewelry, Pandora, saw its stock price surge 16% on Thursday after the company announced it would reduce its reliance on silver and launch platinum-coated jewelry products. This strategic shift aims to address the impact of severe fluctuations in silver prices on the company's profitability. CEO Berta de Pablos-Barbier, who has been in office for just a month, stated in an interview with CNBC that by introducing platinum-coated materials and expanding the product range, the company would be able to maintain profit margins above 20%. She emphasized that currently about 60% of the business relies on silver, saying, "We must decouple the company from silver trading prices." Silver prices have soared over 150% in the past year, rising from around $30 per ounce to approximately $73 currently. Analysts had previously warned that the severe volatility in silver prices posed a "serious problem" for the Danish jeweler, with Pandora's stock price having fallen about 60% over the past 12 months. The company also released its quarterly financial report, forecasting organic growth to be flat in 2026, ranging from -1% to +2%, with an expected EBITDA margin between 21% and 22%. ## Impact of Silver Price Volatility on Profitability Visibility Jefferies analysts noted on Tuesday that, given the recent trends in silver prices, investors are cautious about Pandora. "The challenges of the past few months mean that even in a more normalized silver price environment, the company's valuation will remain significantly below levels seen a year ago." Pandora stated in its financial report that it would reduce its reliance on a single metal by diversifying its metal material mix. De Pablos-Barbier emphasized that expanding the variety of metals would help the company escape the troubles caused by silver price fluctuations. Citigroup analysts pointed out, "The extreme inflation in precious metal prices has severely reduced profitability visibility. The volatile macro backdrop in the U.S. and European markets (which account for about 80% of sales), along with potential signs of brand fatigue and overall weakness in jewelry consumption, further undermined recent confidence." ## Weak Demand in the U.S. Market Drags Performance In the fourth quarter, Pandora's organic growth was 4%, but demand in the U.S. market, which accounts for about one-third of its business, continued to be weak. De Pablos-Barbier stated, "The reality is that we see consumer confidence in this market at its lowest level since the 1960s." Same-store sales growth remained flat in both the fourth quarter and the first month of 2026. Citigroup analysts noted that this also marked the first instance of negative same-store sales growth for Pandora's strategic focus area "Fuel with More" since the end of 2022. This segment focuses on expanding from traditional charms to new categories such as rings, necklaces, and lab-grown diamonds. The company forecasted a full-year organic growth of 6% for 2025, which it had previously announced in January, down from 13% the previous year and below its own growth guidance of 7% to 8%. De Pablos-Barbier stated that the company would attract U.S. consumers to maintain loyalty by revitalizing the brand and launching new products ### Related Stocks - [SLVP.US - iShares MSCI Global Silver Miners](https://longbridge.com/en/quote/SLVP.US.md) - [GLTR.US - Abrdn Precious Metals Basket ETF Trust](https://longbridge.com/en/quote/GLTR.US.md) - [AGQ.US - Pro Ultr Silver](https://longbridge.com/en/quote/AGQ.US.md) - [GBUG.US - Sprott Active Gold & Silver Miners ETF](https://longbridge.com/en/quote/GBUG.US.md) - [ZSL.US - Pro Ultrshrt Silver](https://longbridge.com/en/quote/ZSL.US.md) - [SLVR.US - Sprott Silver Mnrs & Physical Silver ETF](https://longbridge.com/en/quote/SLVR.US.md) - [PLTM.US - GraniteShares Platinum Trust](https://longbridge.com/en/quote/PLTM.US.md) - [SIL.US - Global X Silver Miner](https://longbridge.com/en/quote/SIL.US.md) - [SLV.US - iShares Silver Tr](https://longbridge.com/en/quote/SLV.US.md) - [DBP.US - Invesco Db Precious Metals ETF](https://longbridge.com/en/quote/DBP.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | 白银价格分析：为什么金银比是指引方向的关键 | 银价因地缘政治紧张局势和经济不确定性而回升，增强了其避险吸引力。黄金/白银比率正在下降，表明白银的投资机会较为有利，且白银的表现优于黄金。恐惧与贪婪指数接近中性，当前为 46。投资者正在关注潜在的地缘政治事件和市场情绪，这可能会影响贵金属。 | [Link](https://longbridge.com/en/news/276971454.md) | | 越南的第四家银条分销商开始运营 | DOJI 已在越南启动运营，成为该国第四家银条分销商，在河内和胡志明市销售一两和五两的银条，并计划扩展到岘港和海防。该公司指出，尽管市场波动，实物白银的需求正在上升。目前银价为每两 340 万越南盾（126.21 美元），显著低于 1 月份 | [Link](https://longbridge.com/en/news/276852994.md) | | 印度放松监管，允许股票基金配置金银，持仓比例最高 35%！ | 印度证券交易委员会修订规则，允许主动管理型股票基金将最高 35% 的资产配置于黄金、白银及相关工具，为规模达 3840 亿美元的市场拓宽投资边界。此举正值全球贵金属需求升温，今年 1 月印度黄金 ETF 资金流入首超股票基金。 | [Link](https://longbridge.com/en/news/277008783.md) | | Questcorp 矿业宣布完成扩大规模的私募配售的第一批次 | Questcorp Mining Inc. 成功完成了其扩大私人配售的第一轮融资，筹集了 222 万美元，发行了 1110 万个单位，每个单位价格为 0.20 美元。每个单位包括一股普通股和半个认股权证，允许在 2029 年 2 月之前以 | [Link](https://longbridge.com/en/news/276908450.md) | | 银矿处于交火中：墨西哥贩毒集团的动荡威胁到矿山 | 墨西哥贩毒集团暴力事件激增，继哈利斯科新一代贩毒集团首领 El Mencho 被杀后，扰乱了关键的矿业和农业地区，增加了全球白银和鳄梨的供应风险。这场暴力事件导致了路障和袭击，特别影响了主要的白银矿，如 Fresnillo 的 Mina P | [Link](https://longbridge.com/en/news/276932597.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.