Pandora recently entered into an agreement with Gielen Trading to acquire its Pandora retail network in Belgium and Luxembourg effective June 30, 2017 as part of the jeweller’s strategy to increase control of the brand.
The acquisition is consistent with Pandora’s plan to expand its footprint in significant retail markets, and allows the jeweller to effectively penetrate Belgium and Luxembourg directly, the company said.
Under the agreement, Pandora will add to its retail chain 13 Pandora-owned concept stores and three shop-in-shops located in the two countries. Pandora jewellery is currently available in 25 concept stores, 29 shop-in-shops and around 100 multi-branded stores in Belgium and Luxembourg.
David Allen, president of EMEA in Pandora, commented, “Gaining control of the distribution of Pandora jewellery in already established markets is an integrated part of our strategy to increase control of our brand. Gielen Trading has done a tremendous job in building the Pandora brand as well as a sustainable branded network in Belgium and Luxembourg, and we will now continue the journey to establish Pandora as the most loved jewellery brand in these countries.”
Pandora will pay a total amount of €14 million (around US$14.57 million) to Gielen Trading. Going forward, the operations in Belgium and Luxembourg will be operated out of Pandora’s offices in the Netherlands, the company said, adding that Pandora jewellery has been available in Belgium and Luxembourg since 2004.
News Source : jewellerynewsasia.com