Pandora buys back Belgian distribution rights, plans new stores

By

Sandra Halliday

Published
Dec 18, 2016

Danish jewellery specialist Pandora has struck a deal with Gielen Trading to buy back its Pandora store network in Belgium and Luxembourg as of 30 June 2017.

The move, which is costing the company DKK104m (€14m), is part of the firm’s strategy to increase control of its brand and happens on the day Gielen Trading’s distribution rights to Pandora in the two countries expire. The operation will be run out of the company’s Netherlands office.

Pandora said it gives it the chance to enter Belgium and Luxembourg directly and that “with the agreement, [it] will add to its retail chain 13 Pandora-owned concept stores and three shop-in-shops located in the two countries.” In total, Pandora jewellery is currently available in 25 concept stores, 29 shop-in-shops and around 100 multibrand stores in Belgium and Luxembourg.

The company’s EMEA president David Allen said: “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 brand as well as a sustainable branded network in Belgium and Luxembourg.”

In 2015, the acquired Pandora stores and the existing wholesale network in Belgium and Luxembourg generated revenue of around €21m.