Is Pandora a luxury brand?

Could you please clarify whether Pandora is considered a luxury brand or not? I've heard mixed opinions on this matter, and I'm curious to know if there's a consensus in the industry. While Pandora's jewelry pieces are certainly elegant and stylish, I'm not sure if they fall into the same category as other high-end luxury brands. Additionally, what factors are typically taken into account when determining whether a brand is considered luxury or not? Thank you for your insights.