×
84 131
Fashion Jobs
NORDSTROM INC
Full Time Area Manager Vas (3rd Shift 9:30 pm - 6:30 am) Ontario ca dc 399
Permanent · Ontario
NORDSTROM
Asset Protection - Agent - Northgate Rack
Permanent · Seattle
NORDSTROM INC
Asset Protection - Security Ambassador - Beverly Connection Rack
Permanent · Los Angeles
NORDSTROM INC
Asset Protection - Security Ambassador - Westfield Culver City Rack
Permanent · Culver City
NORDSTROM INC
Asset Protection - Agent - Westfield Culver City Rack
Permanent · Culver City
NORDSTROM INC
Asset Protection - Security Ambassador - Willow Grove Park Rack
Permanent · Willow Grove
NORDSTROM INC
Asset Protection - Security Ambassador - Wilmot Plaza Rack
Permanent · Tucson
NORDSTROM
Asset Protection - Security Ambassador - Barton Creek Square Mall
Permanent · Austin
NORDSTROM INC
Area Manager - Asset Protection - Missouri/Kansas Racks
Permanent · St. Louis
NORDSTROM
Asset Protection - Agent - Ambassador Town Center Rack
Permanent · Lafayette
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · El Paso
CENTRIC BRANDS
Account Executive
Permanent · New York
BANANA REPUBLIC
General Manager-Crabtree Valley
Permanent · Raleigh
ALICE AND OLIVIA
Ecommerce Merchandise Coordinator
Permanent · New York
OLD NAVY
Assistant General Manager, Merchandising
Permanent · Lanham
OLD NAVY
Assistant General Manager
Permanent · Durham
OLD NAVY
sr Manager, Strategy
Permanent · San Francisco
OLD NAVY
Assistant General Manager - [email protected]
Permanent · Norcross
OLD NAVY
General Manager Cross Keys
Permanent · Mantua Township
OLD NAVY
Assistant General Manager - Bloomingdale Court
Permanent · Bloomingdale
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Vienna
ULTA BEAUTY, INC.
General Manager
Permanent · Gig Harbor
By
Reuters API
Published
Sep 14, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Jewellery maker Pandora bets on 'Gen Z' to boost sales

By
Reuters API
Published
Sep 14, 2021

Danish jewellery maker Pandora plans to produce edgy pieces to attract young shoppers and significantly boost sales in the United States and China to meet a revenue growth target of 6-8% over 2021-2023 it announced on Tuesday.


A spring collection from Pandora in collaboration with Disney - Photo: Pandora x Disney



The world's largest jewellery maker by production capacity said it was also targeting an operating profit margin of 25-27% in 2023 and boosted its ongoing share buyback, driving its shares up more than 4%.

Pandora has looked to refresh its image to appeal to the so-called 'Gen Z' - people aged six to 25 whom Bank of America says represents some 2.5 billion people who make up 32% of the global population, followed by 'Millenials' aged 25 to 40 at 22%.

"If you look at Generation Z and Millenials, by 2025 they are expected to constitute over 60% of the luxury consumption in the world so we need to sharpen our pens," CEO Alexander Lacik told Reuters.

The company generates 70% of its sales from its Moment platform based on silver bracelets with collectable charms but is hoping to build a new growth pillar with pieces catering to younger people.

It will soon launch more pieces in its Pandora Me collection, which has previously been promoted by English actor and model Millie Bobby Brown, and is both cheaper an has a more raw look than conventional pieces with for example safety brooches or chains.

Lacik took over the helm in 2019 after the previous CEO was ousted following several profit warnings and a lack of new innovative products.

A top priority for Lacik is to gain a foothold in China, the world's largest jewellery market, where its brand penetration is still very low.

Pandora said it aims to triple revenue in China compared to 2019 levels and double sales in the United States.

To meet demand, it will invest 1 billion Danish crowns ($159 million) in expanding its manufacturing capacity by around 60%, or 80 million pieces of jewellery annually, by building a new factory in Vietnam and expanding its existing plants in Thailand

© Thomson Reuters 2021 All rights reserved.