Pandora Says It’s Now The World’s Best-Known Jewelry Brand – JCK

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Pandora now sees itself as the most recognized global jewelry brand, surpassing longtime champions Swarovski and Tiffany, CEO Anders Colding Friis said in a recent presentation for the financial community.

“We are now the number one jewelry brand in the world,” he said. “In 2017, we beat the competition and became number one. Until then, we were number two.

According to a global Pandora tracker, which measures the top 25 markets, Pandora’s aided awareness is now at 83%, up from 80% the previous year. According to company figures, this exceeds other major global jewelry brands Swarovski (80% awareness) and Tiffany & Co. (71%).

Other notable points from the Pandora presentation:

– Friis admitted that the company has stumbled a bit in the US. He called the U.S. retail market a “challenge,” but said Pandora sees opportunities to expand its retail presence, particularly in the West, Florida and New York area. He wants to accelerate the pace of new product offerings in the United States.

– Pandora will continue to close non-branded accounts and move multi-brand retailers to in-store stores. Last year, it closed 700 unbranded accounts.

– While the company wants to continue operating franchise stores, it also plans to take over 75 to 150 stores per year. This process started in the United States. Friis added that Pandora plans to focus on owned-and-operated stores in the future, rather than franchises.

– The company has identified three reasons why women prefer jewelry: self-expression, “a physical reminder of emotions” and “a love of beautiful things”.

“Women correlate directly with the jewelry their partners buy for them and how much their partners love them,” said Minna Philipson, Chief Marketing Officer. “I don’t know if any of the men in the room tried to celebrate a birthday with a sweater. We see that would not work. [An anniversary gift] it can’t be plastic, it can’t be mass produced, it can’t be something that doesn’t feel emotion.

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