American buyers fuel jewelry is spread despite the tariff winds

US buyers continue to develop on jewelry, even when economic winds weigh on consumers’ moods in Europe and China.

Danish brand jewelry Pandora He said the US market, which represents one-third of its total revenue, remains extraordinary against the backdrop of less global sales.

“The United States is continuing to reduce the trend,” Pandora CEO Alexander Lakik told CNBC “Squawk Box Europe” on Friday.

“The strong US consumer continues to be interested in Pandora and, as I said, Europe is a slightly mixed bag,” he continued, noting that the European client base was “under pressure for a long time”.

China, which represents only 1% of Pandora’s total revenue, “continues to be a challenge,” Lacick said, citing wider difficulties in consumption in the country.

His company, known for its high -street stores selling popular charm and silver jewelry bracelets, posted an 8% growth in US sales on Friday on an annual basis similar for the second quarter.

Sales in China, on the other hand, fell 15% over the period, while those in several major European markets also decreased by high one -digit.

Similar trends have been observed in Ultra-Luxe jewelry group RichemontThe owner of the Cartier brand, which last month reported a 17% leap in America’s sales during the three months to June 30, despite the softer comparative sales in the Asia -Tihoetan region.

The broader jewelry sales in the United States were strong in the first half of the year, with 5% against flat reading in the first half of the year in the first half of the first reading in the first half, according to the Tenoris Analysis Company.

In July – usually a faster month for jewelry trade – sales in the country increased by 3.5%, she noted.

“The Pandora brand is currently working in the United States, which helped to achieve its success,” said William Woods, a senior analyst and head of European retail and food supply in Bernstein, in front of CNBC by email. He added that Pandora’s weakness in France and Germany, meanwhile, is “in line with a variable environment we have seen in the last few years.”

Woods currently quoted the common force on the US market, but nevertheless pointed out a diverse picture of retailers, some of whom have shorten their year -round perspectives About tariff fears.

Tariffs remain a key Challenge for Brands JewelryIncluding Pandora, which depends to a large extent on production in Thailand.

The company on Friday updated its tariff guidelines to predict 200 million Danish Kroner ($ 31 million) in 2025, followed by approximately 450 million Kroner Danish strike next year. He predicts a margin of operational profit of about 24% this year.

The forecasts reported tariff tariffs, as they are currently currently, with Morgan Stanley noting a potential leg in the current 19% percentage of Thailand as a key risk for the company. Meanwhile, the luxury UBS analyst, Chris Huang, pointed out external levies and “excessive US” as potential challenges.

Pandora’s shares fell more than 14% on Friday morning after the second quarter results were released.

The CEO Lakik said that his company currently absorbs two -thirds of these added impacts, including by optimizing costs and price adjustments, while the rest should be born in the estimated operating profit margin this year.

However, he acknowledged the tariffs as a fresh wind that can undermine the current power of US consumers – and the demand for jewelry – along with the higher login costs. Silver, key to the production of Pandora, has reached 14-year-old maximums last month, while prices for traditionally safe-roaring assets gold continue to rise this year.

“(US user) can change in the future he knows, with the impact of tariffs, not only in jewelry, but also in general,” Lacick said.

“We have a weakening dollar, we have an increase in the prices of silver, and then the cream above is the tariffs in the US,” he added.