Pandora Eyeing E-Commerce



Pandora’s recent prospectus offers some intriguing hints regarding the Danish charm manufacturer’s future plans, including e-commerce and accessories.

The 243-page investor document paints a picture of a tremendously successful business with ambitions for future growth, particularly in overseas markets. The 28-year-old company calls itself “the world’s third-largest ­jewelry brand” after Tiffany and Cartier. It notes that like-for-like sales of Pandora in the United States increased 32 percent in fiscal year 2009, with overall revenue jumping some 80 percent. The U.S. remains its largest market, accounting for 40 percent of sales.

The company’s plans include building an online sales ­platform in the medium term. This will “enhance further brand awareness and maximize customer reach as well as foster the potential for additional revenue opportunities,” according to the prospectus. It also aims to focus more on Pandora-branded sales channels in select markets, by “establishing new Concept Stores and Shop-in-Shops through franchise and other arrangements as well as launching a limited number of directly owned stores.”

Pandora is also introducing non-jewelry products such as ­sunglasses and watches that are “consistent with the com­pany’s brand DNA.” (The company tried to introduce sunglasses in 2010, but ultimately delayed the launch.)

Pandora’s reps did not respond to a request from?JCK for comment. Its IPO was reportedly the fourth largest in Europe this year, raising an estimated $2 billion.