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潘多拉们不香了!中国市场加速转向国牌
Jin Tou Wang· 2025-08-26 06:15
Group 1 - The Danish jewelry brand Pandora has expanded its plan to close stores in China from 50 to 100 due to declining sales and changing consumer preferences [1] - Pandora's sales in China peaked at 1.97 billion Danish Kroner (approximately 305.73 million USD) in 2019, but have significantly decreased since then, dropping to 564.2 million Swedish Kronor in 2023, which is less than a quarter of its peak [1] - The shift in consumer behavior in China prioritizes value retention over aesthetics, contrasting with Pandora's focus on beauty and multifunctionality [1] Group 2 - Foreign brands are increasingly withdrawing from the Chinese market, with local brands gaining market share, projected to reach 76% in 2024 compared to 66% in 2012 [2] - Several foreign companies, including fast fashion brands like GU and Zara, as well as beauty brands like Aesop and Decorte, have announced store closures in China [2] - Japanese brand Muji has also closed multiple stores in China, facing challenges due to perceived overpricing and lack of practical value compared to local competitors [2]
潘多拉将在中国关闭100家店
Jing Ji Guan Cha Bao· 2025-08-20 07:24
Core Insights - Pandora Group has announced plans for accelerated global expansion, aiming to open 400 to 500 new stores between 2024 and 2026, driven by improved profit margins and returns [1] - The company has adjusted its expansion target for fiscal year 2025, now planning to add 25 to 50 concept stores globally, down from the previous target of 50 to 75 stores, primarily due to optimization in the Chinese market [1] - Pandora expects to close up to 100 stores in 2025, an increase from the earlier estimate of at least 50 closures, alongside significant layoffs in the Chinese market [1] Performance Summary - Pandora entered the Chinese market in 2015 and opened over 240 stores within four years, but as of the end of Q1 this year, the number of stores in China has decreased to 198 [2] - The company's sales in China have significantly declined, with Q1 2025 sales at 96 million Danish kroner, down 11% from 2023, and a further 15% drop in comparable sales in Q2, while the overall group saw a 3% increase [2] - From 2019 to 2025, Pandora's revenue share from the Chinese market has decreased from 9% to 1%, indicating a substantial decline in market performance [2] - Despite a slight decline in same-store sales due to weak seasonal promotions and timing of new collections, management maintains a full-year organic growth guidance of 7% to 8% for 2025 [2]
潘多拉中国计划关店100家
Sou Hu Cai Jing· 2025-08-19 05:53
Core Insights - Pandora Group has announced a significant increase in the number of store closures in China, from an initial plan of 50 to 100 stores [1] - The company is also expected to initiate large-scale layoffs in the Chinese market [1] Financial Performance - In Q1 2025, Pandora's sales in China amounted to 96 million Danish kroner, representing an 11% decline compared to 2023 [1] - 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 [1] - From 2019 to 2025, Pandora's revenue share from the Chinese market dropped from 9% to 1% after several years of decline [1] Market Strategy - There were rumors in July that Pandora might exit the Chinese market, with plans to operate through authorized local retailers in the future [1]
潘多拉拟大规模关店、裁员
21世纪经济报道· 2025-08-18 10:27
Core Viewpoint - Pandora A/S is facing significant challenges in the Chinese market, leading to a decision to double the number of store closures from 50 to 100 and initiate large-scale layoffs in the region [2][3]. Group 1: Company Performance - In Q1 2025, Pandora's sales in China were only 96 million Danish kroner, a decline of 11% compared to 2023 [2]. - In Q2 2025, comparable sales in the Chinese market dropped by 15%, while the overall group saw a 3% increase in comparable sales during the same period [2]. - From 2019 to 2025, Pandora's revenue share in China fell from 9% to 1% after several years of decline [2]. Group 2: Market Trends - The decline of Pandora in China is attributed to changing consumer preferences, with younger consumers prioritizing "value retention" in their purchasing decisions [3]. - Local brands like Lao Pu Gold are gaining popularity due to their perceived value and collectible nature, contrasting with Pandora's reliance on materials that require frequent repairs [3]. Group 3: Global Performance - Despite challenges in China, Pandora's overall revenue, particularly in the U.S. market, continues to show growth, driven by strong demand, especially during events like Mother's Day [4]. - In Q2, the company's revenue reached 7.075 billion Danish kroner, up from 6.771 billion Danish kroner in the same period last year [4]. - The operating profit (EBIT) for Q2 was 1.287 billion Danish kroner, slightly down from 1.338 billion Danish kroner year-on-year [4].