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Pandora — Regulatory Filings 2017
Jan 27, 2017
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Download source filePANDORA today announced that the Company has signed a letter of intent with Pan
India Charms & Jewellery Private Limited (Pan India) about distribution of
PANDORA jewellery in India. Under the terms of the distribution agreement, Pan
India will be granted exclusive distribution rights for PANDORA jewellery in
India, in which PANDORA currently has no distribution. The agreement is subject
to certain conditions to be fulfilled.
Through its distribution partner, PANDORA will establish branded sales
distribution focusing on concept stores and shop-in-shops, initially in Delhi,
Mumbai and Bangalore, consistent with PANDORA’s overall strategy to focus on
expanding the global branded network. The initial expectation is to open around
50 concept stores in India over a three year period, with around five stores
expected to be opened in 2017. The first opening is planned for Q1 2017.
Anders Colding Friis, CEO of PANDORA, said: “Retailing and conceptual sales in
India is developing at a fast pace. Furthermore, jewellery as a fashion
statement is increasingly popular among consumers and with India already being
one of the largest jewellery markets in the world, the country holds a great
potential for PANDORA. With our new partner and distributor, who has
substantial knowledge and experience with the Indian retail market, we believe
we have an unique opportunity to position PANDORA as a leading international
jewellery brand in India.“
The jewellery market in India, which is predominantly a gold and diamond
market, is one of the largest jewellery market in the world and in 2015 had a
value of INR 2,947 billion (approximately DKK 300 billion), corresponding to an
increase of 18% compared to 2014. In the period 2016-2021, the market is
expected to grow with a compound annual growth rate (CAGR) of 7%, according to
Euromonitor[1]. Of the total jewellery market in India, sterling silver is
currently estimated to represent around 5%.
The content of this release will have no impact on PANDORA's financial outlook
for 2016.
ABOUT PAN INDIA
Pan India is owned by three business individuals: Vikram Bakshi, who is the
Master franchise holder of McDonalds for North India for more than 15 years;
David Hudson, British citizen who has established several companies in India,
among others the company today known as G4S and the largest security provider
in India and Thomas Bay, former Consul General at the Danish Embassy in UAE and
a founding partner of Panmeas (the original PANDORA distributor in UAE,
Bahrain, Qatar and Oman).
ABOUT PANDORA
PANDORA designs, manufactures and markets hand-finished and contemporary
jewellery made from high-quality materials at affordable prices. PANDORA
jewellery is sold in more than 100 countries on six continents through
approximately 9,000 points of sale, including more than 2,000 concept stores.
Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs more
than 18,000 people worldwide of whom approximately 12,000 are located in
Gemopolis, Thailand, where the Company manufactures its jewellery. PANDORA is
publicly listed on the NASDAQ Copenhagen stock exchange in Denmark. In 2015,
PANDORA’s total revenue was DKK 16.7 billion (approximately EUR 2.2 billion).
CONTACT
For more information, please contact:
INVESTOR RELATIONS MEDIA RELATIONS
Magnus Thorstholm Jensen Kristian Lysgaard
Vice President, Head of Investor Relations Director, Corporate Communications
+45 7219 5739 +45 7219 5774
[email protected] [email protected]
Brian Granberg
Investor Relations Officer
+45 7219 5344
[email protected]
[1] Euromonitor 2016