At the recent JCK Vegas show, Pandora Jewelry’s president for North America, John White, very generously took some time to speak to me. Among the highlights of our conversation:
– The company’s IPO last year is just a “step in the journey,” White said, which will help it finance additional advertising, product lines, and entries into new markets.
– The company’s biggest non-charm segment is rings. The non-charm segment has “demonstrated consistent growth,” White said, and is now 18 percent of revenue.
– The company’s Facebook page pulls in an astounding (for the jewelry industry) 1,500 people a day. It currently has over 400,000 likes.
– Regarding Pandora and e-commerce: White notes that the company has tested two e-commerce models—one in Poland where it sells directly over the Internet and one in Germany where it sends customers to retailers. If the company ever ventures into e-commerce in the U.S., White stressed, it will be the second model where it keeps the retailer in the equation. “We have made it clear that we are a wholesale company,” he said.
– I mentioned to White that I recently saw a male friend of mine (and former JCK employee) wearing a Pandora bracelet. But White said that Pandora is still being marketed exclusively to females.
– Despite experimenting with sunglasses, Pandora considers itself a jewelry company and isn’t likely to introduce more non-jewelry products.
– And, of course, the question the industry has been wondering for at least the past five years: Is Pandora just a fad? “We are forecasting revenue growth of 30 percent,” White said. “I don’t see the trend slowing down.” He added the brand only has 61 percent awareness among consumers, which means it still has considerable room to grow.