Pandora to focus investing in-store, not e-commerce marketplaces

Pandora to focus investing in-store, not e-commerce marketplaces - Artificial Jewellery

Pandora Jewelry will remain focused on strengthening its bricks-and-mortar stores and in-house online sales platform rather than joining e-commerce marketplaces such as Amazon and Farfetch .

Despite the company’s presence on China’s e-commerce site T-mall, Pandora management has opted to steer clear of the larger online marketplaces to invest in reaching consumers via physical stores to provide a better customer service experience.

“If you’re a small and unknown brand, [online] marketplaces offer a great opportunity, because they provide you with an audience. I already have an audience,” Alexander Lacik, chief executive officer, Pandora said in an interview with Reuters.

Lacik explained that Pandora can serve its customers better when it has a direct relationship, noting that eight in 10 women worldwide are already aware of the brand, “so I don’t need to make you aware of me. What I need to do is to show you what I’ve got.”

“Marketplaces always have to make a compromise for all the clients they are serving. I don’t have to compromise,” he said, adding that almost two-thirds of its customers are men purchasing jewellery for their loved ones and know only too well that “men buying jewellery need help.”

Pandora, which is headquartered in Copenhagen, is considered the largest jewellery manufacturer in terms of production capacity with an estimated value of $US12 billion ($AU17 billion).

The company operates 2,600 physical stores worldwide that account for an estimated 75 per cent of its total global sales.

More reading
Pandora Jewelry restructures Asia-Pacific operations
Pandora’s sales, share price on the rise

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