关店、裁员，曾经红极一时的知名品牌在中国市场不香了

Group 1 - Pandora, once a popular jewelry brand in China, is experiencing significant decline, planning to double its store closures from 50 to 100 locations this year [2] - The company is also reportedly negotiating with local funds and companies to operate its business in China through authorized local retailers [2] - Pandora's revenue share from the Chinese market has drastically decreased from 9% in 2019 to an estimated 1% in 2024 [2] Group 2 - The initial appeal of Pandora's DIY jewelry model has diminished due to the emergence of cheaper imitations and similar products from competitors like Chow Sang Sang and Lao Miao [3] - The perception of jewelry value has shifted, with consumers now favoring gold jewelry for its investment potential, while Pandora's products, primarily made of copper-silver alloys and zircon, are viewed as less valuable [4] - The retail jewelry market in China is becoming increasingly complex, with both mid-range brands like Pandora and high-end brands like Cartier facing sales challenges [4]