In 2018, Sid Keswani, a ­former executive at Target Corp. and CEO of grocery chain Fiesta Mart, became head of the Americas for ­Pandora. Here, he talks with JCK about ­Pandora’s new way of viewing ­franchisees, whether it will ever again sell to multibrand ­retailers, and just what the company has in the pipeline. What changes does Pandora plan to make to its U.S. division? In November, we announced that our franchisees are our strong partners, and this thought process around [franchise buybacks] is going to stop. The focus is going to be on how [Pandora and its franchisees] move forward together. We are introducing new omnichannel initiatives in the U.S. where we will share profits with our franchise partners. Pandora has significantly trimmed its multibrand retail network. Do you see a reversal there? A few years ago, we closed quite a few locations. We are now looking at i