Where Did Pandora Win?

This time, Pandora is coming!

According to the world clothing shoes and hats net, October 28, 2016, Denmark jewelry.

PANDORA Pandora's Tmall official flagship store is open.

The exclusive official network sales channel in China.

A study by Karus, a jewelry company, shows that despite the introduction of electricity supplier sales channels last year, Pandora's web page is the highest in the jewelry industry, more than Tiffany, Blue Nile and SWAROVSKI (Swarovski).

Pandora's attention to the electricity supplier is obvious.

In fact, Pandora's footsteps have been spread over more than 100 countries in the world.

In 2015, Pandora sold more than 100 million jewellery for $27 billion in revenue.

This realistic version of Pandora, which draws the mysterious inspiration, does not know how many women are being kidnapped.

Pandora's sales business includes necklaces, rings, earrings and other jewelry, but string ornaments and bracelets are still their main business and account for 80% of the sales of cash flow business.

As Rob Betts, director of JCK of Jewellery Magazine, said, "when Pandora was just popular, everyone thought it was only a flash in the pan, but its bracelet was always attracted by Rob."

Where did Pandora win? The soul of the brand is the following line: unfortettable moments.

In thousands of string decorations, each string of Pandora carries a unique password, about mood, memory or love.

From husband and wife shop to jewelry giant

In 1979, a goldsmith named Per Inverderson (Per Envoldsen) founded Pandora in a suburb of Copenhagen.

He was forging jewelry in the basement, and his wife Vigny (Winnie) ran a jewelry store upstairs.

According to the Jeweller magazine, Woudsen and his wife often travel to Thailand, so they export their jewelry to Thailand, where they set up their own factories and employ Lone Frandsen to expand their production lines. (Lone)

In 1987, Pandora succeeded in selling to jewellery stores in Denmark and began to turn the strategy to strict sales.

Two years later, they moved to Thailand.

In 1996, Pandora hired another.

Lizpos Larsen (Lisbeth En? Larsen), based on the idea of Frandsen, designed the prototype of Pandora's chain bracelet, which is now popular everywhere.

This bracelet is similar to the unique design of the silver rope, which can be simply added or removed from the beads made of gold, silver, crystal glass and semi precious stones.

The two designers spent many years perfecting their bracelets and began selling them after they were patented in 2000.

In 2003, Pandora's bracelet began to enter the American market. It was first sold in the American gift shop, and later entered the high-end jewelry store, prompting the company to set up an American regional headquarters in Maryland.

Soon, it was reported that Pandora's bracelet became the best-selling jewellery because of its "high-end appearance and price".

Of course, Pandora's pricing is reasonable in the past and at present. The initial chain bracelet is priced at 15 dollars, the standard silver bracelet is 21 dollars, but its product portfolio also has 400 dollars of expensive jewelry each.

Some analysts compare it to "middle class Tiffany".

At first, Pandora's sales strategy focused on sales, and it was everywhere that it could attract many consumers.

In 2004, Pandora had sold more than 700 jewelry stores in the United States, and this number doubled in 2005.

Pandora has also expanded to other markets such as Canada, Australia and the United Kingdom.

In 2007, Pandora began to set up a brand shop, no longer relying solely on the sale of partners.

Today, the United States is Pandora's largest and fastest growing market.

Despite the popularity of the chain bracelet from the early entry to the US market, Bates of JCK magazine emphasized that the economic downturn has promoted Pandora's sales. "Before jewelry stores only sell high-end jewelry or only sell cheap silver ornaments, but during the recession, jewelers were in urgent need of enough jewelry to sell, so many jewelers began selling Pandora's jewellery, and Pandora was the right product at the right time."

Pandora has benefited from selling 287 million dollars in 2008 to 528 million dollars in 2009.

Pandora took a prominent position in the decline of the US economy and continued to be popular after that.

Steve Barr, a retail analyst at PWC (PricewaterhouseCoopers), said: "the pattern of the retail industry determines that consumers will always expect cheap products and large discounts after the recession, and find that Pandora's people are accustomed to cheap prices, and jewelers have totally different views on value after that." (Steve Barr)

The temptation of Pandora

In addition to lower pricing, Pandora's string ornaments are also worth considering.

Now Pandora offers more than 800 choices, such as pink cake, snowboard, Christmas tree, chef hat, crown, hedgehog, Chinese doll and perfume bottle, so that consumers can truly feel personalized design.

A string of 17 strings can be seen on a Pandora bracelet. Each string represents different meanings. Consumers tell their stories through DIY's own bracelet.

Pandora's chief product officer Beth Mori (Beth Moeri) believes that the development of string ornaments is not only an art but also a science. "In art, we should understand the trend and color of the future. In science, we should analyze the historical sales volume of past and existing product combinations".

Murray said Pandora was concerned about the trend of fashion from T to the streets, and relied on the trend of WGSN to predict the recommendation of agencies. For example, Pandora's latest watermelon ornament came from WSGN's proposal that "fruit will be popular."

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Pandora digs the desire of consumers for highly specialized jewellery.

Open Pandora's magic box, the curiosity of women is always the next beautiful new model.

The reason why Pandora's string ornaments are so striking is the ingenious redesign of the clumsy string decoration over the past decades, "Leanne Wu, a Seattle chain ornament Bracelet lover," said, "the bracelet was not elegant enough. But later, Pandora introduced a low profile, yet very fashionable and easy to string string of Bracelet products, which also brought new vitality to the chain bracelet chain". "Wu"

A lot of string ornaments stimulate consumers to buy back continuously. Maybe they bought 2 at first, but later they would be fascinated by string ornaments until they string up their chains.

Jamie Barr, an American footwear and accessories expert at WSGN, said: "it is a very wise way to open up a business by constantly introducing new popular ornaments to keep consumers attractive and establish the foundation of loyal customers fundamentally." Jaime Barr

Pandora's fans often buy, sell, trade or search for rare ornaments on Facebook on Facebook (eBay).

In the past, Pandora launched two new products every year, but in 2013, the company launched seven new jewellery a year, and in less than two months, there will be new models.

Peng Bo (Bloomberg) speculated that Pandora was inspired by Zara, a fast fashion retailer, who would launch new products every two weeks.

And frequent updates made Pandora able to maintain popularity and defeat other jewellery brands.

Such quantity and speed enhance the characteristics of String Bracelet as a gift.

Data show that over 60% of women receive Pandora in the form of gifts, and half of them are bought by men.

Barr, an expert in WSGN, said: "Pandora's advertisement has always been about married couples and parents buying gifts for their children."

Pandora has attracted the target age consumer through his affection for his children.

In addition, Pandora also wants to attract young consumers. For example, Pandora is one of the sponsors of Coachella.

Pandora, chief marketing officer, Charles Ford (Charisse Ford) said: "it is very important to make Pandora truly implanted in the core of the music festival by showing our views on pop and culture to the audience to break through the people's perception of Pandora."

After the miracle, the mission has not yet been completed.

Pandora's success is a legend in the financial world.

In 2008, a private equity firms in Denmark bought 60% of Pandora's shares from E Neff Andersson (Enevoldsen).

In 2010, Pandora jewelry company listed on the Copenhagen stock exchange and sold $1 billion 830 million worth of stock on the first day. The publication announced that it was the highest IPO in Europe that year.

However, in 2011, the report that Pandora might not be able to go on fire was overwhelming, but its income increased from 996 million dollars in 2012 to 1 billion 350 million dollars in 2013, and then jumped to 1 billion 790 million in 2014.

In September of the same year, looking for Alfa (Fortune stock net Seeking Alpha) claimed that "diamonds are not eternal, but Pandora is."

This year, Pandora's revenue is expected to reach US $3 billion.

Pandora controlled almost all production processes.

From design to production, there were 11000 people in Pandora's Thailand factory.

At the same time, the sales chain is also strengthened to control all distribution of wholesalers and brand stores.

Although the sale of independent jewelry stores helped Pandora to occupy the market during the depression, the company was no longer interested in more and more distributors. Instead, it focused on how to make money by brand stores and cooperation with more exclusive retailers.

Last year, Pandora closed down 183 US merchant dealers and opened 400 new retail stores around the world, and plans to open 50 brand stores in the United States by the end of 2018.

Pandora stores generally have a "moving wall" to sell the latest models, many of which are made of the "Pandora rose gold" jewelry mixed with copper and silver in 2014. They look very much like rose gold but only a fraction of their price.

The main reason why many customers enter the shop is string decoration.

On average, there are 850 string ornaments in each Pandora store. There are 8 custom stations in Soho store, providing one to one bracelet custom service.

Many consumers will first look at the new situation on the Internet and rush into the store, because some of the ornaments will soon be robbed.

Pandora is committed to making the offline stores more interactive.

The new Manhattan West tin Shopping Center store has a touch screen that customers can use to find product information.

The store also displays the 3D images of each string ornament with hologram equipment, so that consumers can appreciate all the ingenuity embedded in Pandora products.

Pandora is still trying a more casual shopping experience.

In an area of the west field store, consumers can choose their own ornaments without the help of shop assistants.

Another strategy for Pandora to become "the most popular jewellery brand in the world" is to jump out of the chain bracelet.

About a year ago, Pandora began to promote Earrings vigorously.

In April last year, Pandora launched the promotion of ring series for the first time. It also set up a store concept called "ring bar" at some sites, encouraging consumers to choose different rings and stacking them on one finger.

So far, these efforts have achieved initial success. Now ring accounts for 12% of Pandora's income, 7 percentage points higher than in 2014.

Next is the ear studs, and Pandora will launch most of the new models in the next six months.

Selling new products can promote sales, but it is hard to imagine that the business status of the bracelet is difficult to guarantee.

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