Pandora will open up to 275 stores

Phoenix, the mythical animal that rises from the ashes and was resurrected from the oblivion of school textbooks thanks to Harry Potter, is also the name of the strategy announced two years ago by Pandora. Now the Danish company says that that business idea is working and that next year it will be combined with the opening of over 250 stores globally. Not only. Pandora wants to conquer new markets. The strategies of the big jewelry company arose from the recent Capital Markets Day, an event dedicated to the economic-financial aspect of the company, which is listed on the stock exchange.

Phoenix is centered on the concept of sustainability, which can attract new and younger consumers, explained CEO Alexander Lacik. Concepts that have translated into investments and also product choices, such as that of offering jewelery with diamonds created in the laboratory. The next goal is to transform investments into greater revenues, even if the accessible luxury sector is particularly crowded. Furthermore, Pandora has to deal with an unknown number of imitators. The focus is on markets yet to be developed, such as those of South Korea, Japan and India. The company has already identified 7,000 possible locations for new stores in the regions where it already operates. From 2024 to 2026, Pandora plans to open between 225 and 275 stores, as well as 175 to 225 shop-in-shop stores. Last year, for example, Pandora partnered with Macy’s to open 28 shop-in-shops after a soft launch in five stores the previous year.

As regards the financial aspect, Pandora expects to reach an estimated turnover of 870 million dollars by 2025, thanks to an increase in sales in the USA and China, a country which, however, proves not easy to conquer. In countries where Pandora is strong, such as the United Kingdom, Italy and Australia, the company expects moderate sales growth, while in markets where it has a less strong base, such as the United States, Germany and France, it expects to grow more significant market shares.

Other news: all the new stores will have the new format, Evoke 2.0, inspired by multi-channel and with video screens that guide the customer in their choice, as well as spaces dedicated to click & collect, as well as engraving services to personalize jewellery. A concept inaugurated at the end of 2021 in Milan and London.