Pandora has signed a new intellectual property deal with Trollbeads covering the design of glass charms.
The new deal modifies a current agreement. Previously, Trollbeads had granted IP rights to its glass charm designs to Pandora under a long-term royalty agreement. Under the new agreement, Pandora will buy all the rights to the designs in a one-off payment of DKK 190 million (about $33 million).
The total amount will be paid in the first quarter of 2013. Pandora expects the effect on its balance sheets to be “positive going forward.”
Pandora and Trollbeads did not return requests for comment at press time.