Danish jewellery giant Pandora has declared 2016 as the ‘Year of the Earring’.
The switch in focus follows the success of the brand’s promotion of its rings, which now account for 20% of turnover. Charm bracelets and beads continue to account for the vast majority of the remaining 80%.
Peter Andersen, Pandora president for Western Europe, told Professional Jeweller that the programme of activity to push rings had taught the company that it takes a considerable amount of time, money and hard work.
“We previously had a ‘Year of the Rings’, but it actually took three years for sales to really come through. It takes time to build,” he said.
In 2016, Pandora’s 193 concept stores will be kitted out with new furniture that showcases earrings better. These will display what Andersen describes as the best earring collections the company has ever designed.
The company’s advertising and promotions will also change so that earrings are given greater prominence.
Pandora’s latest financial statement said that world-wide sales increased by 40% in the third quarter. It has not yet released information about its crucial fourth quarter, which covers the Christmas period.
Details of UK sales have not been disclosed, and Andersen would not be drawn on whether they would be above or below the 40% growth reported globally.
Read the full interview with Peter Andersen in the February edition of Professional Jeweller.
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