Buyers US Fuel Decoration Despite Tariff Winds

US buyers continue to spend jewelry, even when economic winds weigh consumer moods in Europe and China.

Danish jewelry brand Pandora He said the US market, which is a third of its total income, remained aliens against the backdrop of the weaker global sale.

“The United States continues to fight the trend”, on Friday, Pandora CEO Alexander Lachik told CNBC “Squawk Box Europe”.

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

China, which accounts for only 1% of Pandora’s total income, “continues to be difficult,” Latsik said, citing more difficulty in the country.

His company, known for its high -streets shops selling popular Charm bracelets and silver jewelry, was placed 8% in the US in the second quarter.

Sales in China, on the other hand, decreased by 15% during this period, while several major European markets also decreased high.

Similar trends were observed in the Ultra-Luxe jewelry group RichemontThe owner of the Cartier brand, which last month placed 17% jump in America three months before June 30, despite softer comparative sales in the Asia -Tzakhakan region.

In the first half of the year, the wide sales of jewelry were strong, increasing by 5% compared to flat reading in the first half of 2024, according to the analytical firm Tenoris.

In July – usually a slower moon for retailers of jewelry – sales in the country increased by 3.5%, said in the celebration.

“At the moment, the Pandora brand is working in the United States, which has helped succeed,” said William Woods, senior analyst and head of European retailers and food delivery to Bernstein, email. He added that the weakness for Pandora in France and Germany, meanwhile, “corresponded to the changing environment we have seen over the past few years.”

Currently, Woods referred to the overall force in the US market, but nevertheless pointed to a diverse picture of retail sellers, some of which are reduce your complete predictions about tariff problems.

Tariffs remain key Call jewelry brandsIncluding Pandora, which depends heavily on the production in Thailand.

On Friday, the company updated its tariff instructions to predict $ 200 million ($ 31 million) in 2025, and then the following year, it is estimated at 450 million Danish strikes. This year, it predicts about 24%operating profit.

In the long run, there are tariffs as they currently stand, and Morgan Stanley in Friday’s note, which denotes the potential in the modern 19% Thailand rate as a key risk to the company.

After the results of the second quarter, Pandora shares decreased by 14%.

Director -General Latsik said his company has now absorbed two -thirds of these additional interests, including by optimizing the cost and pricing adjustment, and the rest should be born in a estimated profit margin this year.

However, he called the tariffs as a fresh wind that can blow up the US consumer’s current power – and jewelry – along with higher entrance costs. Last month, silver, the Pandora production key, reached a 14-year high, while the traditionally safe Haven Asset Gold prices continue to rise this year.

“(US consumer) may change in the future, who knows, with the impact of tariffs not only in jewelry, but also in general,” Latsyk said.

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