Bangkok--25 Jan--ABM
PANDORA, one of the world's largest and finest jewellery brands with a manufacturing base exclusively in Thailand, announced sales growth of 15% last year confirming the strength of the jewellery industry. PANDORA also unveiled its new vision and marketing strategy to deliver the most personal jewellery experience, and to boost its share in the online and offline market for sustainable leadership in the jewellery industry.
PANDORA, the well-known Danish jewellery brand, holds an industry-leading position as the world's largest jewellery manufacturer while ensuring a new vision to be the branded manufacturer that delivers the most personal jewellery experience. This coincides with its 2018-2022 corporate strategy in which PANDORA mission is to inspire every woman to feel creative in her self-expression.
Mr. Nils Helander, Senior Vice President, Manufacturing, and Managing Director at PANDORA Production Thailand, said, "PANDORA continued to realise significant growth over the past several years. In 2017, PANDORA achieved sales growth of 15% with total revenue of DKK 22.8 billion or approximately THB 114 billion. From 2018-2022, PANDORA has targeted revenue growth of 7-10% annually with new four marketing strategies:
1. Innovate Affordable Jewellery
As a category leader and innovator, PANDORA will continue to drive growth in the charms and bracelets categories. In addition, PANDORA will significantly grow its rings, earrings, necklaces and pendants segments and aims to generate around 50% of revenue from these categories by 2022 (from around 25% today). Innovation and original products will remain key components to sparking consumer demand. PANDORA will therefore launch a minimum of one new innovative jewellery concept per year and increase its annual collections from seven to ten to fulfill consumer needs and maintain high product quality at affordable prices.
2. Digitalised Brand Experience
To address changing consumer behaviour, PANDORA will make changes to its digital marketing, which in 2022 is expected to represent more than 60% of marketing spend (from around 30% today). PANDORA will strengthen its market share by spending around 8% of revenue in 2022.
3. Winning in OMNI-Channel Retail
PANDORA will integrate its online and offline channels by offering consumers omni-channel fulfilment and service functionalities around the world. In the future, PANDORA plans to open around 200 concept stores per year. In 2022, around two-thirds of concept stores will be owned and operated by PANDORA, which also plans to grow its eSTORE to represent 10-15% of its revenue.
4. Agile Manufacturing
PANDORA will expand its manufacturing capabilities to deliver a diversified and innovative product offering while increasing efficiency and agility. The capacity expansion programme for Thailand involves total investment of nine billion baht over a five-year period (2015-2019). They include: 1) A second new production facility in Lamphun whose commercial operations started in March 2017; 2) A new AAA crafting facility in Bangkok that will have its grand opening in March of this year; 3) Reconstruction and optimisation of the existing facilities at the Gemopolis Industrial Estate in Bangkok, which will facilitate capacity to produce more than 200 million pieces per year within five years.
In 2017, PANDORA established the largest innovation centre for finished jewellery in the world in Bangkok. Utilising this and its new manufacturing facilities in Thailand, PANDORA will expand its manufacturing capabilities to deliver a diversified and innovative product offering while increasing efficiency and agility.
The new vision and mission, including the strong fundamentals of PANDORA, potential of Thai craftsmen and our competent team around the world will enable PANDORA to continue to gear up for numerous successes in 2022. I believe PANDORA's new strategies will drive Thailand's leadership in global jewellery manufacturer and exporter as well as the company's sustainable growth."
PANDORA's Performance Results and Achievements in 2017
PANDORA achieved its sales growth of 15% compared to 2016, with a total revenue of approximately THB 114 billion. The company created 117 million pieces of jewellery hand-finished by Thai artisans and distributed to over 100 countries in six continents around the world. The proportion of sales consists of charms and bracelets at 75%, rings at 14%, earrings at 6%, and necklaces and pendants at 5%.
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 around 7,700 points of sale, including more than 2,300 concept stores.
Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs more than 23,800 people worldwide of whom around 13,200 are located in Thailand, where the Company manufactures its jewellery. PANDORA is publicly listed on the Nasdaq Copenhagen stock exchange in Denmark. In 2017, PANDORA's total revenue was DKK 22.8 billion (approximately 114 billion THB.)