Pandora’s own online store is now the biggest retailer of its jewellery in the UK, the company’s president for Western Europe, Peter Andersen, has revealed.
In a wide-ranging interview with Professional Jeweller, Mr Andersen confirmed that the official Pandora.net e-store is, “by a considerable margin”, its biggest retailer in the UK.
The majority of Pandora’s 193 branded stores in the UK are run by franchise partners. The Danish jewellery giant owns and operates only eight.
But its e-store dwarfs them all, leading to questions over whether franchisees will find themselves fighting over a shrinking piece of the pie. “At the moment we don’t have an issue, and I hope we never do,” Mr Andersen replied.
“But there is, of course, a trend. People are moving from the high street to online. So far, if you talk to the franchisees, they will tell you they have had an amazing Christmas. Also, our partners that have their own e-stores have not seen sales [of Pandora] decline. The Pandora e-store is growing, but it is operating in a growing market,” he stated.
Pandora updated its forward guidance to investors on worldwide sales last week, with the 2015 final figure expected to reach DKK 16.7 billion (£1.67bn), a 40% increase over 2014. Figures for the UK are not yet available.
Read the full interview with Peter Andersen in the February edition of Professional Jeweller.