Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Pandora Drops 183 More Retailers in the Americas
The fourth-quarter cut brings the year-end total to 529 unbranded doors closed in the Americas, most of which were located in the United States.
Copenhagen, Denmark--Pandora announced Tuesday that it cut distribution to 183 silver, white, and travel-level retailers in the Americas in the fourth quarter, most of which were located in the United States.
The 183 retailers cut from the company’s distribution network in the fourth quarter follows cuts of 105, 125 and 116 made in the first, second and third quarters, respectively, and brings the year-end total to 529 “unbranded” doors closed.
That equals nearly 38 percent of Pandora’s entire network of unbranded retailers in the Americas. Pandora had 1,402 when 2015 started; by Q4, that number was down to 873.
Pandora’s continued closing of silver, white and travel-level retailers in the Americas is part of its overall strategy to increase distribution worldwide to shop-in-shops, gold level retailers and its concept stores, what it refers to as the “branded” portion of its distribution network.
CEO Anders Colding Friis said Tuesday that Pandora opened almost 400 concept stores worldwide in 2015, which was “another great year” for the company.
Globally, Pandora saw its sales increase 40 percent (29 percent in local currency) year-over-year, reaching $2.52 billion. This included a 34 percent (17 percent in local currency) increase in fourth quarter revenue in the U.S., driven by network expansion, including its new online store, regional like-for-like growth rates and strong Christmas sales.
Revenue from concept stores accounted for more than half (62 percent) of Pandora’s total sales for the year, and increased 54 percent when compared with 2014.
Gross margin rose from 70.5 percent to 72.9 percent while net profit increased 19 percent to $552.9 million.
In 2016, Pandora said it will continue to focus on its branded store network and plans to open more than 250 concept stores worldwide, roughly 20 percent (50) of which will be in the Americas.
In addition, Pandora already announced that it is partnering with Signet Jewelers Ltd. to build out Pandora shop-in-shops in more than 200 Jared the Galleria of Jewelry stores, a project that will begin this year.
The company also now sells online direct to consumers in the U.S.
The Latest
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The announcement came as the company reported a 23 percent drop in production in Q1.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.