Pandora’s rings now account for 19% of turnover in the UK, thanks largely to continuing growth of concept stores where customers can be transitioned from charms to other lines from the Danish jewellery giant.
The company has opened 169 concept stores in the UK over the past five years. 13 have opened since the start of 2015.
“During the second quarter, we have seen the ongoing growth of the brand within the UK. Whilst charm and bracelet sales were traditionally the foundations for the Pandora brand, we are now experiencing significant growth in our other categories such as rings, necklaces and earrings,” said Peter A Andersen, president of Pandora Western Europe.
“It is a very exciting time for the brand, both globally and within the UK as we continue to focus on developing our business, opening new concept stores and delivering the long term growth through the popularity of the product – leading Pandora to remain one of the UK’s most recognised jewellery brands,” he added.
The rapid growth of Pandora’s network of concept stores was the major driver behind an increase in second quarter sales of 31.2% in the UK. Same store like-for-like sales, which do not include sales from stores opening in the past 12 month, grew 11.4%.
Pandora’s UK operation is making multi-millionaires out of its major franchise partners, who operate the overwhelming majority of concept stores. Independently owned jewellers such as Mococo, Swag, Argento, TH Baker, Allum & Sidaway, Drakes and several more are now becoming regional powerhouses on the back of Pandora concept store sales.
Concept stores also accelerate the uptake of new collections. The company says that its Pandora Rose collection, which hit stores in June, has been very well received and performed above expectations making it the most successful new collection launched to date.
The Christmas campaign this year will be fronted by Strictly Come Dancing presenter Tess Daly (pictured above).