LONDON, Feb 7 ― Pandora, the world's biggest jewellery maker, said today that its fourth-quarter sales in China missed expectations due to macroeconomic uncertainty in that market.

The company is aiming for overall organic revenue growth of 6 per cent - 9 per cent in 2024, it said, after reporting strong sales of its silver charms and bracelets last year, which has helped its share price to more than double since the start of last year.

Pandora also announced a share buyback programme of up to 4 billion Danish crowns (RM2.76 billion) after confirming strong fourth-quarter revenue and earnings.

Pandora, which sells its jewellery in more than 100 countries, has been a rare bright spot among retailers and brands targeting aspirational consumers with affordable luxury items.

Pandora's revenue in the United States, its biggest market, grew 2 per cent to 8.3 billion Danish crowns over 2023. Revenue in China fell by 9 per cent to 564 million Danish crowns over the year. ― Reuters