U.S. shoppers are continuing to splurge on jewelry, even as economic headwinds weigh on consumer sentiment in Europe and China.
Danish jewelry brand Pandora said the U.S. market, which accounts for one-third of its overall revenues, remained an outlier amid weaker global sales.
“The U.S. continues to buck the trend,” Pandora CEO Alexander Lacik told CNBC’s “Squawk Box Europe” on Friday.
“A strong U.S. consumer continues to be interested in Pandora, and, as I said, Europe is a bit of a mixed bag,” he went on, noting the European client base had been “under pressure for quite a while.”
China, which accounts for just 1% of Pandora’s total revenues, “continues to be challenging,” Lacik said, citing broader consumption difficulties in the country.
