Pandora’s promised “reboot” has arrived.
On an Aug. 20 conference call, newly appointed Pandora chief executive officer Alexander Lacik told investors that a planned “major relaunch” for the brand was in the works. This announcement came on the heels of another quarter of declining sales: Comps fell 10% for the brand in the second quarter (though online sales rose 22%).
This morning marked the official start of Pandora’s relaunch—though it hosted a VIP relaunch event in Los Angeles yesterday attended by roughly 400 “international” guests.
The global jewelry company hopes to turn its fortunes around by…
++ Introducing a new store design, called Expression, that spotlights the concepts of discovery and collecting. The new store concept will roll out gradually; refurbishing key stores in 2019 is a priority.
++ Establishing a new “visual identity” that spans all channels, online and in-store. The color pink will be its new “main marker and recognizable statement” across all consumer touch points. The brand’s websites debuted the new pink-hued look this morning.
++ Rolling out new collaborations and celebrity endorsements. Pandora announced new long-term partnerships with six well-known global influencers: Nathalie Emmanuel, Georgia May Jagger, Halima Aden, Larsen Thompson, Margaret Zhang, and Tasya van Ree. (Pandora recently partnered with Stranger Things’ Millie Bobby Brown to support the October debut of Pandora Me, a new collection developed for a younger audience.)
++ Introducing new and themed product collections. Later this year, the brand will launch products in collaborations with Harry Potter and Frozen II. Today, the autumn/winter 2019 collection—featuring 121 different designs spanning all product categories—debuted globally online.
++ Making “the largest marketing investment in the company’s history,” including the introduction of a new logo and monogram.
++ Debuting new online stores and “refresh[ing] its presence” on marketplaces such as Tmall.
++ Introducing a new company tagline: “We give a voice to people’s love—Passions, People & Places.”
Pandora was founded in 1982 in Copenhagen, Denmark, and is sold in more than 100 countries on six continents through more than 7,500 points of sale, including more than 2,700 concept stores.
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