Pandora necklace

Pandora Announces $ 200 Million Expansion, New “Gen Z” Spokespersons

As part of an investor update on its new strategic initiative, Phoenix, Pandora Jewelry revealed plans for a Dkr 1 billion (A $ 216 million) expansion of its manufacturing facilities in South Asia. -Is, as well as the announcement of new famous spokespersons for its Moments and Pandora ME collections. .

The company plans to increase its manufacturing capacity by 60% – or 80 million jewels – per year, with a new factory to be built in Vietnam and its current facilities in Thailand expanded.

Alexander Lacik, CEO of Pandora, said: “We are very pleased to confirm that Pandora is back on the path to growth. We have vast untapped opportunities in our current core business and they will drive long-term sustainable and profitable growth.

“Our goal is to be the largest and most desirable brand in the affordable jewelry market, and we have a solid foundation to achieve that goal.”

In a statement providing more details on the company’s new strategic initiative, Phoenix, to investors, Pandora revealed that its long-term goal is to “double revenues in the United States and triple revenues in China” on the basis of figures for 2019, which amounted to 4.68 billion Danish kroner. (AU $ 1 billion) and DKK 2 billion (AU $ 431.8 million) respectively, according to the company’s 2019 annual report.

While planning to increase its operational footprint, Pandora also announced new sustainability goals.

This includes a target to reduce its greenhouse gas emissions by 50% across its entire supply chain by 2030, as well as to achieve “net” emissions by 2040, to be achieved by combining the reduction of its “climate footprint” and the purchase of carbon offsets.

“Our commitment will prepare Pandora for the low carbon economy of the future and hopefully contribute to positive change in the jewelry industry,” Lacik said, while admitting that the company “did not yet all the answers “and” will call on our suppliers. and business partners to help us make this a reality. “

Further developments

Pandora’s other future plans include the implementation of several “omnichannel features” including a “new store concept” – around 75% of Pandora transactions are now directly to consumers, rather than through the online sales channel. wholesale – as well as increasing “brand desirability” and market share among Gen Z and Millennial consumers.

Talk to Reuters, Lacik said: “If you look at Gen Z and Millennials, by 2025 they are expected to constitute over 60% of luxury consumption in the world, so we need to sharpen our pens.”

To that end, the company recently announced a slew of new celebrity “faces” to attract young buyers, including three new Pandora Muses – plus-size model Precious Lee, artist, writer and model Cici Xiang, and Prime male ‘Muse’, actor and skateboarder Evan Mock.

The trio join existing “Muses” of Pandora, Tasya Van Ree, Larsen Thompson and Georgia May Jagger in the new “Wearing Occasions” jewelry campaign; Game Of Thrones actress Nathalie Emmanuel, model Halima Aden and Australian writer and photographer Margaret Zhang, who was recently appointed editor-in-chief of Vogue China, seem to no longer be affiliated with the company.

Meanwhile, the Gen Z-oriented Pandora ME range – previously promoted by Strange things star Millie Bobby Brown – will have her own group of famous spokespersons known as the Pandora ME Collective, appearing on in-store marketing, online and social media advertising, and at Pandora events.

Carla Liuni, Pandora Marketing Director, said: “Pandora ME has been reinvented to reflect the identity of the wearer and bring our DNA and brand heritage into the future.

“We know that the highly creative and powerful Generation Z is expressing who they are through music and fashion. “

The Pandora ME collective includes TikTok stars Addison Rae and Donté Colley, singers Charli XCX and Beabadoobee, and social media influencer Cecilia Cantarano.

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