Brand launches 28 stores in China before Christmas this year.
Pandora announced the launch of its first store in China yesterday, in its latest step towards becoming a truly global brand.
The brand stated at an event in Monaco, launching its new collections, that it would be opening 28 stores in China before Christmas, this year, and that globally it would be launching a store a day to 2013. Stores will be opening in India in 2012.
It claimed that its main aims over the next year are to increase sales to $2 billion and to experience 30 percent growth year on year. It is also seeking to boost its branded sales (concept stores and shop-in-shops) to make up 75 percent of its overall business (currently 62 percent).
In order to supply the increased of number of stockists, Pandora will be bringing a new factory online this October in Thailand, which will be able to supply an additional 15 million units.
Pandora director if international sales and distribution Hans Hurnemann said: “There are still places where we are not present. We are not on 5th Avenue – yet. We are not in Hong Kong – yet.”
He added: “The devil would actually say we are growing too fast. Can we maintain this growth?”