Pandora is one of the world biggest leading jewellery companies, headquartered in Denmark, produces its unique jewellery solely in Thailand, they always comes out with new strategies even though its revenue goes up respectively every year.
This year campaign is focussing on long term plan for 2018-2022 by giving “experience” to every woman, Pandora jewelry is unique and it creates special moments, it is a woman personal storytelling, and its plans to sustain both online and offline markets.
Nils Helander, Senior Vice President, Manufacturing, and Managing Director at Pandora Production Thailand says “Pandora saw strong growth in previous years, especially in 2017, business expanded by 15%, revenue reached 22.8 billion Danish crowns or 1.14 hundred thousands million baht. For 2018-2022, it expects to reach 7-10% in sales through 4 new strategies.”
1) Innovative affordable jewellery
Charms and Bracelets remain its core product category, but it continues to build up Necklaces, Pendants, Rings and Earrings to ensure the sales to be increased from 25% to 50% within 2022. Moreover, it brings continue flow of products each year, increasing frequency with new designs from 7 to 10 collections per year, it helps to meet variety of customer’s needs with affordable price.
2) Digitised brand experience
Expanding its strategy to “Digital Marketing” via across channels, allocating marketing budget from 30% to 60% to meet digital savvy consumers, it is planning to spend in worldwide marketing by 8% from its revenue in 2022.
3) Buyer Friendly
Continue to pursue growth in existing retail market together with fully functioned e-commerce. It would add around 200 concept stores per year, two-thirds own and operate by Pandora. Also, expanding online marketing, it expects the sales to reach 10-15% of its revenue.
4) Streamlined production
Expanding the factory by investing more than 9,000 millions baht from 2015- 2019. A new 2nd crafting facility in Lamphun, it was completed in 2017, also new Triple A building at Anya Thani Industrial Estate in Bangkok which completed in March 2018, as well as renovated exiting manufacturing plants. It expects to produce 200 million jewellery pieces per year within the next 5 years.
On top of that, Pandora just opened The Innovation Centre in 2017, the biggest jewellery innovation in the world, in Bangkok; by enhancing new concepts, design features to meet the market’s need which should be increasing dramatically in the near future.
Total Revenue in 2017
It reached 114,000 million baht, 15% increased from previous year, with production capacity of 117 million pieces of jewellery crafted in Thailand.
Pandora to be sold in more than 100 countries on six continents through around 7,700 points of sale and 2,300 stores worldwide; 75% income came from Charms and Bracelets, 14% Ring, 6% Earrings, and 5% from Necklaces and Pendants.
Finally…
No doubt, Pandora is number one in jewellery market but it never stops improving itself, comes up with new strategy in order to sustain firmly, and inspire their consumers as always.
Credit: brandinside.asia
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