President Peter Andersen says UK will never be 100% concept stores.
Pandora’s president of Western Europe Peter Andersen told Professional Jeweller that the brand will never turn its back on Gold Accounts or shop-in-shops completey, despite its push into concept stores.
Andersen explained: "We have some amazing Gold Accounts who do fantastic sales on the square metres that they have and the same goes for our shop-in-shops. Some have fantastic turnovers, but of course what we are trying to achieve is to show the consumer the entire Pandora universe and that is easily done in a concept store.
"We will never get to a point where the UK is 100% concept stores, that is not going to happen. There will always be towns and areas where there is not a possibility of a concept store, where we will maintain gold accounts or shop-in-shops."
Franchise stores continue to perform well for the brand, with Andersen admitting there is now an extensive waiting list for those wishing to open their own Pandora store.
He added: “One thing that is probably not mentioned enough is that out of 163 stores we actually only own five of them, and the remainder are all franchisees that are jewellers from across the industry, who have been with us for five or six years. We are trying to cluster them, so that they have a specific amount of stores in a specific area – the advantage of this is that it is their own regions and they know what’s going on. We could be missing opportunities if we didn’t have local partners."
When it comes to closing Gold Accounts, Andersen admits that the company looks at “location, performance and personal relationships”, plus willingness to enhance the space offered to the brand in store or develop into a franchise partner.
He explained: “The jewellers have their own brands, and not everyone is made to be living under a brand umbrella because we have rules and regulations and guidelines that we put out there, and not everyone wants to live with that. I have the upmost respect for this, and people come to me and say ‘Peter, I don’t think this is right for my store’, and they want to be a jeweller without a brand attached and that’s fine by me.”
The full interview with Peter Andersen will appear in the April issue of Professional Jeweller.