Western Europe president Peter Andersen forecasts prosperous future.
Pandora has entered its sixth year of trading in the UK, a milestone that it says marks it out as one of the most successful jewellery brands to operate in the UK.
Having launched here with 250 accounts, the brand now operates 120 concept stores in the UK, with revenue rising from £52m in 2009 to £128m in 2013, which itself was a 33% increase on 2012’s results.
The brand said it is delighted to be able to report on its success in the UK, having "overcome the fate of many UK retailers during a time of commercial instability, and has managed to grow a highly profitable business despite the concerns of many financiers".
It opened its flagship store on London’s Oxford Street in September 2013, doubling as the company’s largest Pandora concept store globally. The UK was also selected for the brand’s first fully transactional website, which opened in October 2012.
Pandora president for Western Europe Peter Andersen said: "2014 marks a significant milestone in Pandora’s history. During the past five years we have managed to build on a promising business model to construct one of the most successful jewellery brands in the UK.
"Five years ago when we first launched in the UK, we were a small player in the market with 250 wholesale accounts – today’s picture is much brighter; with over 120 concept stores in all the right locations, we are now the UK’s leading jewellery retailer. I am immensely proud of the success delivered by the team, who have realised the brand’s full potential through their expertise and hard work. Many of our first starters are still aboard, whilst we have also been pleased to welcome new members to the business, which is growing by the minute. We now look forward to the next five years of trading in the UK. With exciting new designs and projects in the pipeline, we expect a prosperous and successful future."
Among Pandora’s marketing and commercial activities over the past five years has been a focus on driving its product towards women of all ages, through partnerships with the Glamour Women of the Year Awards, the 2013 Girls Aloud UK tour and its support of a number of charitable organisations, such as ABF the Soldiers’ Charity and Breakthrough Breast Cancer.
This year, the brand will start work on a new partnership, collaborating with the British Heart Foundation and launching a new charm to raise funds for the charity.