Pandora has appointed veteran retail executive Sid Keswani (pictured), CEO of a Texas grocery chain, as president of its Americas division.
He replaces Scott Burger, who headed the Americas division for five years and stepped down in January. Burger also came from the grocery sector.
Keswani will be based in Pandora’s Baltimore office. The Americas region encompasses the United States, Canada, the Caribbean, and Latin America, and accounts for one-third of the jewelry company’s revenue.
Since last August, Keswani had served as CEO of Fiesta Mart, a 63-store Texas grocery chain that serves the Hispanic market and was acquired in May. Prior to that, he served as chief operating officer of Aspen Heights, a real estate company; senior vice president of operations at Susser Holdings, a 625-store convenience store chain; and for 19 years he worked for Target Corp., where he rose to senior vice president.
A release says Keswani’s key priority will be “to work with franchisees and Pandora-owned stores to ensure a seamless integration to the successful eStore, especially in North America.”
The company-owned eStore, which debuted in 2015, now accounts for 10 percent of the company’s U.S. revenue.
The appointment comes as the charm maker’s sales have struggled in the United States, its largest market. In May, it reported that its U.S. sales had fallen 8 percent in its first quarter of 2018, though online sales rose. In 2017, its U.S. sales rose just 2 percent.
The company has responded by adding newer product to meet the American consumers’ thirst for novelty, though CEO Anders Colding Friis said earlier this year that “the retail market in the U.S. is difficult. We expect that to continue.”
In a statement, Keswani said, “The Americas region holds significant potential in both mature and emerging markets and in the continued integration of customers’ experience across physical stores and online retailing.”
(Image courtesy of Pandora)