RAPAPORT... Danish jeweler Pandora officially opened its first store in India last week, aiming to tap “one of the largest jewelry markets” as part of the brand’s global expansion strategy.
The new concept store, located in New Delhi, is owned and operated by Pandora’s local distribution partner, Pan India Charms & Jewellery. The two companies signed a letter of intent in January, giving Pan India the exclusive distribution rights for Pandora jewelry in the country.
Pandora plans to open around 50 concept stores in India over the next three years, with an initial focus on Delhi, Mumbai and Bangalore. Five of those stores are scheduled to open in 2017. The company, best known for its charm bracelets and lower-end silver jewelry, has more than 2,100 concept stores globally, selling its products in more than 100 countries.
“Entering one of the largest jewelry markets in the world is an integral part of our strategy to increase our global footprint, bringing our brand closer to our consumers around the world,” said David Allen, Pandora’s president for Europe, the Middle East and Asia.
* Picture courtesy of Pandora
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