Core Viewpoint - Pandora, the Danish jewelry brand, has announced a significant increase in its store closure plan in China, doubling from 50 to 100 stores, alongside layoffs in the affected locations [2][6]. Group 1: Financial Performance - In Q1 2025, Pandora's sales in China were only 96 million kronor, a decline of 11% compared to 2023 [6]. - In Q2 2025, comparable sales in the Chinese market fell by 15%, while the overall group saw a 3% increase in comparable sales during the same period [6]. - The revenue share of Pandora's Chinese market has dropped from 9% in 2019 to just 1% in 2025 [6]. Group 2: Market Presence and Strategy - The brand has experienced a shift in its retail strategy, moving from independent stores to counters and now to closures in various cities like Qingdao and Nanjing [2]. - There are reports suggesting that Pandora may exit the Chinese market entirely, opting instead to operate through local retailers [6]. Group 3: Consumer Sentiment and Product Perception - Consumers have mixed feelings about Pandora's products, with some expressing dissatisfaction regarding the quality and value retention of the jewelry, which is primarily made from alloys and silver [9][10]. - The resale value of Pandora items has significantly decreased, with second-hand prices for bracelets and charms dropping to as low as 10-30 yuan each, despite original prices being much higher [10].