Pandora looks to stimulate sales with 3 for 2 sale on charm beads
Danish jeweler Pandora made headlines last week when it debuted a “3 for 2” sale on its charm beads. The move is the latest in which Pandora tries to compensate for a stagnant retail market and retain its position as queen of the affordable luxury jewelry market. According to Pandora’s website, the offer is available online, and will run until October 1. So, if you’re in the market for charm beads, don’t wait to place your order!
Pandora also held a sale in June that saw some pieces of its popular collection sold with an impressive 50% off. The company hopes to shore up sales and, thereby, visibility in the market. While Pandora has debuted this deal itself online, many retailers that carry its jewelry have since promised to match it.
The company’s website says: “Choose your pretty charms, safety chains, spacers, clips, stoppers, pendant charms and petite memories. Hand-crafted in sterling silver, 14ct gold and PANDORA rose.” Prices start as low as £10, with the most expensive item available being the gold crown bead, which comes in at £565.
This sale, and the one that came earlier in the year, are bold moves: Pandora is (potentially) giving up a lot of revenue in exchange for sales and market share. However, people who have been watching the company shouldn’t be too surprised. Earlier this year, Pandora’s CEO, Anders Colding Friis, said:
“We’re not just waiting for the good times to return to the U.S. retail market – we see things we can do now in terms of new products and new product categories. We see good possibilities for strengthening our business in the current environment. Our focus is to hold on to our core, which is charms and bracelets, and then add the other categories on top of that. We will continue that journey.”
Dominion holds Pandora in its Global Trends Luxury Fund.
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