×
230
Fashion Jobs
H&M
Business Expert to h&m Group Business Tech
Permanent · Stockholm
H&M
Business Analyst For The h&m Brand Customer Insights & Analytics Team
Permanent · Stockholm
H&M
Production Manager – m&c – Divided
Permanent · Stockholm
H&M
Production Manager – m&c – Divided
Permanent · Stockholm
H&M
Head of Merchandising eu Retail - & Other Stories
Permanent · Stockholm
H&M
Technical Product Owner – Loyalty Engine/CRM
Permanent · Stockholm
H&M
Product Owner – Topdown Planning Assortment
Permanent · Stockholm
MARC O' POLO
Sales Manager / Key Account Manager Scandinavia M/W/D
Permanent · STOCKHOLM
H&M
Senior Business Controller to h&m Sport
Permanent · Stockholm
H&M
Product Owner Within Circular Business Models
Permanent · Stockholm
H&M
Technical Product Owner For ci/cd Team
Permanent · Stockholm
H&M
Business Analyst h&m Sport
Permanent · Stockholm
H&M
Business Experts to Inventory Optimization
Permanent · Stockholm
H&M
Art Buyer - h&m Sport
Permanent · Stockholm
RITUALS
Senior Account Manager Wholesale Nordics
Permanent · Stockholm
H&M
Product Owner to External Group Communications, Business Tech
Permanent · Stockholm
H&M
Head of New Business Development - h&m Sport
Permanent · Stockholm
H&M
E-Commerce Operations Coordinator / Business Expert
Permanent · Stockholm
H&M
E-Commerce Business Analyst
Permanent · Stockholm
H&M
Data Analyst to a Data Driven Team in Business Tech
Permanent · Stockholm
H&M
Senior Agile Project Manager For Business And Tech Development
Permanent · Stockholm
H&M
Business Expert – Colleague Development & Growth
Permanent · Stockholm
By
Reuters API
Published
Sep 14, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Jewellery maker Pandora bets on 'Gen Z' to boost sales

By
Reuters API
Published
Sep 14, 2021

Danish jewellery maker Pandora plans to produce edgy pieces to attract young shoppers and significantly boost sales in the United States and China to meet a revenue growth target of 6-8% over 2021-2023 it announced on Tuesday.


A spring collection from Pandora in collaboration with Disney - Photo: Pandora x Disney



The world's largest jewellery maker by production capacity said it was also targeting an operating profit margin of 25-27% in 2023 and boosted its ongoing share buyback, driving its shares up more than 4%.

Pandora has looked to refresh its image to appeal to the so-called 'Gen Z' - people aged six to 25 whom Bank of America says represents some 2.5 billion people who make up 32% of the global population, followed by 'Millenials' aged 25 to 40 at 22%.

"If you look at Generation Z and Millenials, by 2025 they are expected to constitute over 60% of the luxury consumption in the world so we need to sharpen our pens," CEO Alexander Lacik told Reuters.

The company generates 70% of its sales from its Moment platform based on silver bracelets with collectable charms but is hoping to build a new growth pillar with pieces catering to younger people.

It will soon launch more pieces in its Pandora Me collection, which has previously been promoted by English actor and model Millie Bobby Brown, and is both cheaper an has a more raw look than conventional pieces with for example safety brooches or chains.

Lacik took over the helm in 2019 after the previous CEO was ousted following several profit warnings and a lack of new innovative products.

A top priority for Lacik is to gain a foothold in China, the world's largest jewellery market, where its brand penetration is still very low.

Pandora said it aims to triple revenue in China compared to 2019 levels and double sales in the United States.

To meet demand, it will invest 1 billion Danish crowns ($159 million) in expanding its manufacturing capacity by around 60%, or 80 million pieces of jewellery annually, by building a new factory in Vietnam and expanding its existing plants in Thailand

© Thomson Reuters 2021 All rights reserved.