Less than 12 months after the closure of 100 accounts in Australia and New Zealand, Pandora has shocked the Australian jewellery industry with the announcement of the closure of another 100.
Pandora Australia president Karin Adcock emailed “around 100 retailers” on January 5 to advise them of the impending closure of their accounts.
In an official statement announcing the closures, Adcock said that “after a period of careful consideration and reflection on our future strategies, we have decided to increase focus on a branded retail store environment and will increase our retail concept stores in 2012”.
“As a result of this, we will no longer be selling Pandora through some stores in Australia and New Zealand. The retailers impacted by this new strategy have been notified and they have favourable terms to close their Pandora accounts.”
She said the company, which had already made a substantial investment in its wholesale and retail operations, was keen “to support our new collections and constantly strive to enhance the customers’ experience of our ‘universe of jewellery’ in fully branded Pandora environments”.
“The key message here is we are taking this initiative to ensure that our brand keeps going in a positive direction and we maximise all of the opportunities that are currently out there in the market.”