×
1 263
Fashion Jobs
ESTÉE LAUDER
Clinique - Consultant - Boots Covent Garden, London - 20 Hours - Permanent
Permanent · London
SHISEIDO
National Account Manager
Permanent · London
TIMBERLAND
Credit Controller - French Speaking - Timberland
Permanent · CALVERTON
ESTÉE LAUDER
Clinique - Consultant - Boots Donegall, Belfast - 15 Hours - Permanent
Permanent · Belfast
ESTÉE LAUDER
Clinique - Consultant - Boots Sedley Place, London - 10 Hours - Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - John Lewis Stratford, London - 10 Hours - Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots Durham - 6 Hours - Permanent
Permanent · Durham
ESTÉE LAUDER
Clinique - Consultant - Boots Londonderry - 11 Hours - Permanent
Permanent · Londonderry
ESTÉE LAUDER
Clinique - Consultant - Boots Kensington, London - 22.5 Hours - Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots Donegall, Belfast - 10 Hours - Permanent
Permanent · Belfast
BRAND STABLE LTD
Wholesale Sales Executive
Permanent · LONDON
LAIDBACK LONDON
Digital Marketing Manager
Permanent · HARROW
MARSHALLS
70118-lp Detective
Permanent · Banning
ESTÉE LAUDER
Clinique - Consultant - Boots, Watford - 22.5 Hours - Part Time, Permanent
Permanent · Watford
ESTÉE LAUDER
Tom Ford Beauty - Digital Marketing Executive
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - John Lewis Edinburgh - 6 Hours - Permanent
Permanent · Edinburgh
ESTÉE LAUDER
Clinique - Consultant - Boots st Albans- 22.5 Hours - Permanent
Permanent · St Albans
ESTÉE LAUDER
Clinique - Consultant - John Lewis, Oxford Street London - 15 Hours - Permanent
Permanent · London
ESTÉE LAUDER
Tom Ford - Business Manager - Fenwick - Bracknell - 37.5 Hours - Full-Time, Permanent
Permanent · Bracknell
ESTÉE LAUDER
Clinique - Consultant - John Lewis, High Wycombe - 16 Hours - Part Time, Permanent
Permanent · High Wycombe
ESTÉE LAUDER
Clinique - Consultant - Moores, Coleraine - 12 Hours - Part Time, Permanent
Permanent · Coleraine
ESTÉE LAUDER
Clinique - Consultant - Boots, Barnstaple - 7.5 Hours - Part-Time, Permanent
Permanent · Barnstaple
Advertisements
By
Reuters API
Published
May 4, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Pandora eyes U.S., China for fresh sparkle after strong start to 2021, may expand into new categories

By
Reuters API
Published
May 4, 2021

Jewellery maker Pandora on Tuesday announced a push for growth in the United States and China, and potential expansion into new areas such as watches and bags, after posting forecast-beating first-quarter operating profit.


Pandora



Strong online sales and the impact of stimulus packages in the United States helped lift operating profit more than four-fold to 903 million crowns ($146.2 million) between January and March, versus 833 million crowns forecast in a company-compiled poll.

Pandora's new strategy aims to strengthen its brand in key markets, particularly the world's two biggest economies, and over time to potentially extend into other product categories, Chief Executive Alexander Lacik told Reuters in an interview.


Pandora



"We see untapped opportunities in the United States and China, where our brand penetration is still very low," Lacik said. "We see good opportunities to grow (there), rather than expanding into new geographies."

"For now we will stay firmly within the jewellery segment," he added, saying he sees potential for further growth in charms and bracelets, which account for some 70% of its business. "But in the longer term, we are looking at other avenues of growth."

That could include expanding its accessories offering under the Pandora brand, or bringing in other brands, he said.

The company, best known for its silver charm bracelets, said 30% of its 2,700 stores worldwide were closed during the first three months of the year due to coronavirus-led lockdown measures.

"We have had a good start to 2021, not least considering that many of our stores have been closed," Lacik said.

Around one in five stores are currently shut, but the company lifted its full-year sales and profit outlook on Monday on expectations of a faster reopening.

Pandora shares, which have risen three-fold over the past year, traded 5% higher at opening.

The group's sales increased more than 10-fold in the decade to 2017 after it found a niche between the cheaper accessories available in stores such as H&M and the more expensive jewellery on offer from the likes of Tiffany & Co.

But it suffered a major setback as a lack of innovation and overstretching itself at the top and bottom of the market kept both shoppers and investors at bay.

Since joining Pandora in early 2019, Lacik has cut costs and pushed e-commerce.

Pandora, which sells three pieces of jewellery every second, also said on Tuesday it will stop selling mined diamonds and focus on more affordable, sustainable, lab-grown gems.
 

© Thomson Reuters 2021 All rights reserved.