PANDORA began making its way into the hearts of consumers in 1982 and over the last three decades it has transformed itself into a globally recognized name. The company is active across six continents and has a presence in more than 90 countries.
In 2010, Pandora became a publically traded company and has continued to expand every year, becoming an even bigger player in the jewellery market. “The company started in Denmark, and slowly spread out all over the world,” adds Dusan Sourek, Country Manager of CZ and SK. “PANDORA came to the Czech Republic and Slovakia in 2010.”
Even though PANDORA has only been active in many Eastern European countries for five years, the company has been wildly successful. The company’s success is because of the high quality products it offers, but also because of its distribution/business strategies.
“We came into the markets in the Czech Republic and Slovakia with a two tier approach,” explains Mr. Sourek. The first tier involves opening stores that are owned and operated directly by PANDORA. The second tier involves setting up franchises and also selling a portion of its products wholesale to different multibrand stores. “This model has been working very well,” adds Mr. Sourek. “We now have nine stores operated by PANDORA, five franchises and eight small shop-in-shops in various larger multibrand stores.”
So why is PANDORA so successful and why does the company continue to outsell a lot of its competition? The answer lies in its branding. The jewellery giant believes that every person has their own individual stories to tell – a personal collection of unforgettable moments that make them who they are. This is why PANDORA developed the charm bracelet concept.
Pandora’s bracelet concept remains the cornerstone of the company’s sales because of the step-by-step approach the bracelets represent.
“Each charm on the person’s bracelet is meant to represent an unforgettable moment in that person’s life,” says Mr. Sourek. When worn and viewed by the wearer, each piece should bring back the wonderful memories that inspired the purchase of the charm.
“When it comes to our charm bracelets, the customer can really connect on a personal level with each part of the bracelet,” adds Mr. Sourek. “At PANDORA, our jewellery is much more than gems and precious metals, it represents memories of a life well-lived.”
To keep everything fresh for the customer and new charms available for purchase, the company rolls out new products seven times a year. New products come out in spring, summer, autumn, winter and for the special occasions of Mother’s Day, Christmas and Valentine’s Day.
In addition to bracelets, PANDORA also offers many elegant and stylish designs for of rings, earrings, necklaces with pendants collections and the Essence Collection. The Essence Collection is another bracelet-centred concept that uses charms to represent who the wearer is, rather than unforgettable moments the person has experienced.
“The charms of the Essence Collection are meant to symbolize the person’s inner values, hopes and desires,” says Mr. Sourek.
In order to get the word out about its new and existing collections and attract new clients, PANDORA actively relies on its interactive multilingual website and has a large social media presence. It also offers membership in the ‘Pandora Club’ for returning customers and has its own magazine featuring its products.
Product promotion is conducted via a variety of channels and focuses on providing excellent customer service so the customer will want to return again and again. In order to provide such excellent service to its customers, PANDORA employs about 50 people in the Czech Republic and Slovakian markets and more than 15,000 people worldwide.
For the future, the Czech and Slovakian branch of PANDORA plans to focus on opening own and operated stores, expand its offices and increase brand awareness. “Overall, the staff here, myself included, will continue to uphold PANDORA’s mission of becoming the world’s best loved jewellery brand,” sums up Mr. Sourek.