Core Viewpoint - Pandora, once a beloved brand among young consumers, is now facing significant challenges in the Chinese market, leading to the decision to close 100 stores this year, reflecting a shift in consumer preferences and a lack of innovation from the brand [2][3][6]. Group 1: Store Closures and Market Performance - Pandora plans to double its store closure from an initial 50 to 100 in China, indicating a rapid contraction in its market presence [3]. - The brand has already closed 22 stores in the first half of 2025, with a total of 12 concept stores closed in Q2 2025 alone [4][6]. - As of August 20, 2025, Pandora has 187 stores in mainland China, down from over 250 at its peak in 2015 [4]. Group 2: Financial Performance - In Q2 2025, Pandora reported a revenue of 7.075 billion DKK, showing an organic growth of 8% globally, but the Chinese market continues to struggle [5][6]. - Revenue in the Chinese market has plummeted nearly 80% from 19.70 billion DKK in 2019 to 4.16 billion DKK in 2024, with comparable sales down 21% in 2024 and further declining in 2025 [6]. Group 3: Consumer Sentiment and Brand Positioning - Consumers are increasingly viewing Pandora as outdated, with complaints about product quality and value retention, leading to a decline in emotional attachment to the brand [7][8]. - The brand's positioning as a "light luxury" option is under pressure, as younger consumers gravitate towards more valuable and personalized products, such as gold and trendy collectibles [8][9]. - Industry experts highlight that Pandora faces structural challenges in its business model, struggling to provide the emotional value of luxury goods while lacking the cost-effectiveness of mass-market products [9].

Core Viewpoint - Pandora, the Danish jewelry brand, is significantly scaling up its store closures in China from an initial plan of 50 to 100 stores, alongside simultaneous layoffs in the region [1][3]. Group 1: Financial Performance - In Q1 2025, Pandora's sales in China were only 96 million kronor, a decline of 11% compared to 2023 [3]. - In Q2, comparable sales in the Chinese market dropped by 15%, while the group's overall comparable sales increased by 3% during the same period [3]. - The revenue share of Pandora in the Chinese market has decreased from 9% in 2019 to just 1% in 2025 after several years of decline [3]. Group 2: Market Strategy and Consumer Perception - Pandora's unique selling proposition is its "bracelet + charm" DIY product model, which has attracted many young female consumers since its entry into the Chinese market in 2015 [4]. - Despite its popularity, consumer feedback is mixed, with many expressing dissatisfaction regarding the quality of materials used, such as alloys and 925 silver, which are prone to oxidation and devaluation [5][8]. - Some consumers prioritize emotional value over investment value, stating that the joy of purchasing jewelry is more important than its resale value [5].

8月15日，丹麦珠宝品牌潘多拉发布二季度业绩公告。公告中提到，原计划今年在中国市场关闭50间门店的规模，将翻倍扩大至100间门店。 同时，据21世纪经济报道，潘多拉销售人员确认，中国区关店计划与裁员计划同时进行。销售所在的门店闭店之后，店内工作人员会收到赔偿金，但不再 被安排至其他门店工作。 近年来，潘多拉门店在青岛、南京等多个城市的商场中，经历了从独立门店到中庭柜台，再到撤柜的历程。 回收价低至30元 图源：东方IC 早在2021年，据北京商报报道，原本位于北京王府中環的潘多拉主力店悄悄撤了店，取而代之的是高端珠宝品牌卡地亚。与此同时，长楹天街的潘多拉则 从门店"缩水"成了专柜。2023年2月，原先开设于北京三里屯太古里南区的Pandora潘多拉门店也被时尚品牌GANNI取代。 潘多拉最大的特点是"手链+串珠"的DIY产品模式，推广语是"一颗珠子代表一个故事"，吸引消费者挑选品牌旗下各种造型的珠子来完成自由搭配。自 2015年进入中国市场，潘多拉便赢得了一众年轻女性的喜爱。 财报显示，潘多拉在2025年整体业绩承压的情况下，中国地区领跌明显。潘多拉2025年第一季度的在华销售额，仅仅只有9600万克朗，较2 ...

丹麦珠宝品牌潘多拉8月15日发布二季度业绩公告。公告中提到， 原计划今年在中国市场关闭50间门店的规模，将翻倍扩大至100间门店。 潘多拉最大的特点是"手链+串珠"的DIY产品模式，推广语是"一颗珠子代表一个故事"，吸引消费者挑选品牌旗下各种造型的珠子来完成自由搭配。自 2015年进入中国市场，潘多拉便赢得了一众年轻女性的喜爱。 二季度 潘多拉中国市场销售额跌15% 有媒体从一位潘多拉销售人员处确认， 中国区关店计划与裁员计划同时进行。销售所在的门店闭店之后，店内工作人员会收到赔偿金，但不再被安排至 其他门店工作。 财报显示，潘多拉在2025年整体业绩承压的情况下，中国地区领跌明显。潘多拉2025年第一季度的在华销售额，仅仅只有9600万克朗，较2023年下滑了 11%；二季度潘多拉中国市场可比销售再度大跌15%，然而同期集团整体可比销售却有增幅3%。经历 2019年到2025年，连续几年下跌后，潘多拉中国市 场的营收占比从9%降到了1%。 近年来，潘多拉门店在青岛、南京等多个城市的商场中，经历了从独立门店到中庭柜台，再到撤柜的历程。 潘多拉在全球市场的整体营收，尤其是美国市场仍呈现增长态势。财报显示，公司第 ...

8月15日，丹麦珠宝品牌潘多拉发布二季度业绩公告。公告中提到，原计划今年在中国市场关闭50间门店的规模，将翻倍扩大至100间门店。 同时，据21世纪经济报道，潘多拉销售人员确认，中国区关店计划与裁员计划同时进行。销售所在的门店闭店之后，店内工作人员会收到赔偿金，但不再 被安排至其他门店工作。 近年来，这家来自丹麦的轻奢首饰品牌在中国地区的日子似乎不太好过，潘多拉门店在青岛、南京等多个城市的商场中，经历了从独立门店到中庭柜台， 再到撤柜的历程。 早在2021年，据北京商报报道，原本位于北京王府中環的潘多拉主力店悄悄撤了店，取而代之的是高端珠宝品牌卡地亚。与此同时，长楹天街的潘多拉则 从门店"缩水"成了专柜。2023年2月，原先开设于北京三里屯太古里南区的Pandora潘多拉门店也被时尚品牌GANNI取代。 财报显示，潘多拉在2025年整体业绩承压的情况下，中国地区领跌明显。潘多拉2025年第一季度的在华销售额，仅仅只有9600万克朗，较2023年下滑了 11%；二季度潘多拉中国市场可比销售再度大跌15%，然而同期集团整体可比销售却有增幅3%。 经历2019年到2025年，连续几年下跌后，潘多拉中国市场的营收占比 ...