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As of 2021, Pandora jewelry sales have rebounded from a three-year slump in revenue growth. Twenty-three percent growth in sales was achieved in 2021, compared to the previous year. It had its finest year ever in that regard.

Denmark’s year-over-year organic sales grew by 58 percent in the United States. Sales in the United States hit $1.1 billion in 2021, up from 24 percent in 2020, and now account for 30 percent of overall sales.

With the objective of becoming the “biggest and most coveted brand in the cheap jewelry industry,” Pandora has launched a new strategic plan called Phoenix to keep the momentum rolling. Since the corporation already has the trademark, the objective is to increase its margin of victory.

The Phoenix strategy is based on four pillars of growth:

Make use of existing goodwill and repeat business. Pandora, already the world’s most popular jewelry brand, is utilizing sophisticated data analytics, social listening, and greater advertising spending to preserve its position as the industry’s most popular jewelry brand.

Consolidate the design basis on which it is based. 71% of sales are made up of charms and chain bracelets named “Moments and Collabs” (brand collaborations). However, with 29% of sales, it is fast growing into new jewelry categories and platforms dubbed Style and Upstream. Pandora Timeless (17 percent), Pandora Signature (9 percent), and Pandora ME (focused at Generation Z) are among the new jewelry lines (3 percent ). Additionally, Pandora Brilliance, the company’s lab-grown diamond collection, was debuted in the UK last year and is expected to be rolled out around the globe this year.

Enhance the customer’s overall experience. There are 1,423 Pandora-owned concept shops and 5,348 additional places of sale that makeup Pandora’s omnichannel approach. At all, Pandora’s direct-to-consumer retail accounted for 68 percent of sales — 42 percent in Pandora physical shops and 26 percent via Pandora’s online store. There is wholesale distribution through franchisees and others that account for 32% of sales. Concept stores in the U.K., Italy, and China are now testing a new design that might be used in the future.

Expand your reach in your most important regions. Pandora sees the U.S. and China as two of its most promising regions, and it hopes to more than treble its 2019 sales in China, which was just under $300 million. During the previous two years, China’s revenue share dropped from 9 percent in 2019 to 5 percent in 2021.

2020 and beyond: The United States of America

In addition, the United States is the company’s largest and most promising market. It has set a goal of doubling the company in 2019 from the previous year’s $700 million in revenue. Just over $400 million has been contributed in the past year, leaving it with about $300 million to go.

Pandora is taking a wait-and-see approach to its forecast for 2022. On the low end, it expects to see negative growth in the mid-to-high single digits for the US, while on the high end, it predicts flat to slightly positive growth.

As a result of its surprisingly robust post-pandemic recovery, the jewelry market in the United States is predicted to decrease between 10% and 20%. Another reason for caution stems from a number of macroeconomic and geopolitical concerns, none of which have been stated here but may be found by looking to Ukraine.

It doesn’t matter how many uncertainties there are, Pandora’s newly recruited President of North America Luciano Rodembusch has a firm grip on Pandora’s US company.

In his new position as senior vice president for North and Central America, which includes the United States and Canada, he brings a wealth of international experience to Tiffany & Co. In addition to jewelry, he has worked with Diageo, Bristol-Meyers Squibb, and Proctor & Gamble in CPG sales, marketing, and management.

When Rodembusch started at the firm, he had only seven months to learn the company’s culture and get his hands dirty in the day-to-day operations. That made it possible for him to turn the Phoenix plan he was given into a strategy that he could implement in the United States. He got down with me to talk about his plans for the US market, which he shared with me.

Preserving the gains of 2021 is the most important priority since it will help to fuel future development. We must safeguard and maintain this progress in order for the years 2022, 2023, and even 2024 to be our greatest yet, says he.

A large selection of reasonably priced models

The 3.2 million new U.S. consumers who joined the brand last year were a major factor in this expansion. It shouldn’t be difficult to keep them interested, since Pandora has already built-in client loyalty via the collectability of its charms. One isn’t enough for the client.

“Pandora is the LEGO jewelry,” he claims. You can’t go into a LEGO shop and not play with something; we want to deliver the same sensation of fun inside of our businesses. When a piece of jewelry is on display, a woman’s face never seems sad. So that’s the vibe we’re going for in our shops.

The brand’s allure is enhanced in part by the affordability of its products. With costs ranging from $25-$35, Pandora is affordable for the majority of shoppers, and the wide variety of charm designs ensures that there is something for everyone in the collection.

This is what he says: “Innovation drives Pandora,” he says. Every time you enter a shop, you’ll find something fresh. There is no other organization that can accomplish it as quickly and as well as we can.

Recently, a Marvel Super Hero collection with 11 items, including a bracelet, ring, and charm, debuted in mid-February. As Rodembusch puts it, “It was the finest cooperation we’ve ever done.” Also, it faces stiff competition from Disney, Harry Potter, Star Wars, and other popular franchises.

In e-commerce, several of the Marvel models were sold out within two hours. A huge reaction,” he says. “For the first time in our history, we issued a unique edition for someone who wants the full collection.” One hundred of these were sold in only a few hours on the internet. Marvel, for instance, appeals to both men and women and is particularly well-liked by today’s youth.

When it comes to Pandora, Rodembusch sees a chance to do something different. Charms have become more of a part of the Pandora brand’s identity than actual jewelry pieces. A jewelry firm that also sells charms is something we view as a potential.”

There are new methods to wear charms that the brand is showing out. To wear a charm, you don’t have to put it on your wrist. On a keychain, bag, pocketbook, or even shoelaces,” says the guy. “You can wear them in a variety of ways,” he adds.

Another important part of the goal is expanding the jewelry selection. The comment we get from customers is that they don’t often see our jewelry in the shops since it’s so inexpensive and high-quality. “We need to make people aware of everything that we have to offer,” he adds.

Customers will have more methods to interact with the company.

According to Rodembusch, with so many people discovering Pandora last year, Pandora has a lot of room to grow. As of right now, the business operates 1,500 retail locations throughout North America, half of which are owned by the business itself and half by franchisees, as well as 1,000 independent dealers.

As a percentage of our total sales, we have a significant presence on the East Coast in comparison to the West Coast and Canada. “That’s where we expect to see a lot more white space,” he adds.

In order to expand Pandora’s audience in the United States, Macy’s has lately established cooperation. This past Christmas season, Pandora shop-in-shops were soft-launched in Dallas, Houston, Atlanta, and Garden City, NY.

In the end, it benefits both parties. “Macy’s is giving us that because there is still a significant number of customers to target and bring into the brand. Our collaboration will be strengthened by it,” Rodembusch claims.

Macy’s is feeling the same way. a Macy’s spokeswoman said to me, “Pandora broadens our already outstanding range in exquisite jewelry”. With the help of Pandora, we are able to give clients more fascinating fine jewelry that enhances their shopping experience and helps them to express their own style.”

Although the company plans to increase its physical presence in the United States, Pandora’s consumers can expect a more customized experience online as it does so. According to him, despite the fact that all of his shops have been open a year, “e-commerce is still quite strong for us.”

“We are spending a lot on personalization in the digital realm so that when a customer visits the website, they see a website, particularly for them, rather than what everyone else sees..” He goes on to say, “It’s going to be a hard road to get there, but we have big goals to be the greatest.”

Yet another installment of narrative storytelling

Although Pandora is well-known for its storytelling, Rodembusch believes that the company can do more. In his opinion, Pandora “does tremendous things,” but in a modest manner.

When it comes to workmanship, everything is done by hand, and we can add more significance to each item by sharing more stories at the retail level. As he says, “We can bring a lot more excitement to the shops via storytelling.”

Never a dull moment in life

When asked whether the pandemic’s lessons would take his brand forward in the following year, Rodembusch said, “I think they will.”

“The epidemic taught us all the importance of life,” he says. “And no matter what, there is always a reason to rejoice. It’s not uncommon for people to have weddings, anniversaries, birthdays, etc., he adds.

Even in the worst of circumstances, we want them to remember Pandora as a place where they may relive their most precious memories.” In other words, you may have a keepsake that will remind you that even in the worst of circumstances, “we came through,” for less than $100, $50, or even $35, he says.

Pandora’s explosive expansion in 2021 was mostly due to this human urge to connect and rejoice, and given the ominous clouds gathering today, this should continue to be the case in 2022 as well.

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