Jewellery brand Pandora is ‘exploring strategic options’ for its Chinese operations, as changing consumer preferences have caused its sales there to plummet by 80 %. The Danish brand is even considering leaving the world’s largest jewellery market.
Licensing as solution?
Pandora’s revenue in China has been decreasing since 2019, as local competitors are gaining ground thanks to digital strategies and competitive pricing. Meanwhile, demand is shifting from silver to gold and especially younger consumers are opting for authentic gold jewellery and local brands with a more fashionable appearance.
