PANDORA establishes a presence in Italy
(Thomson Reuters ONE) -
PANDORA, the world's third largest jewellery brand, today announced that the
company has entered the Italian market thereby establishing a presence in
Europe's largest market for fine jewellery. Based in Milan, a dedicated team of
sales agents will cover the Italian market, focusing on both multi-brand
point-of-sales as well as franchise-based PANDORA branded concept stores.
"One of our key strategic objectives is to develop new markets by either
entering into geographies where we are currently not present, or by expanding
our existing presence in markets where we have a limited market exposure. The
Italian market for fine jewellery is both by size and structure a very exciting
new market for us. And we are very optimistic that we have the right business
model, the right products, and not least the right people to succeed in Italy,"
said Mikkel Vendelin Olesen, CEO at PANDORA.
Massimo Basei has been appointed new Country Manager for Italy and will be
reporting to Jesper Nielsen, Managing Director for PANDORA's regional office for
Central Western Europe which also includes Germany, Austria, Switzerland and the
Netherlands. Massimo Basei has several years of experience within sales and
marketing of branded consumer products, and he has previously held leading
commercial positions at the SAFILO Group.
Since 2000, when PANDORA started to establish its presence outside Denmark, its
country of origin, the company has gradually expanded its European market
presence. In 2009, the European region accounted for 34.9% of PANDORA's total
revenue, corresponding to DKK 1.2 billion (approximately EUR 161 million).
By establishing a presence in Italy, PANDORA further strengthens its European
position and also gets access to Europe's largest market for fine jewellery with
an estimated total retail value of more than EUR 5.5 billion.
"Obviously, entering a significant market like the Italian has been in our scope
for some time. However, to enable us to meet the anticipated demands from our
new Italian customers, we decided to wait until we had our third production site
in Bangkok, Thailand, up and running. This was achieved in the Spring, and we
are now looking forward to welcome women all over Italy to join PANDORA's
universe of hand finished, genuine jewellery at affordable prices," Mikkel
Vendelin Olesen said.
About PANDORA
PANDORA is a designer, manufacturer, and marketer of hand finished and modern
jewellery made from genuine materials and at affordable prices. We distribute
our jewellery and other branded products to more than 40 countries on six
continents across different sales channels through around 10,000 points of sale,
including over 200 PANDORA branded concept stores.
PANDORA was founded in 1982 in Copenhagen, Denmark, and employs today over
3,500 people worldwide of whom more than 2,500 are located in Thailand, where
PANDORA manufactures its jewellery. The company is privately owned with the
founder and - since March 2008 - the private equity fund Axcel as majority
shareholders. In 2009, PANDORA's total revenue was DKK 3.5 billion
(approximately EUR 465 million). For more information, please visit
www.pandora.net
Contact
For further queries, please contact:
Kasper Riis
Communications Manager
Phone +45 3672 0044
Mobile +45 3035 6728
[HUG#1428964]
Press release (PDF) : http://hugin.info/143185/R/1428964/376252.pdf
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Source: PANDORA via Thomson Reuters ONE
Datum: 01.07.2010 - 14:01 Uhr
Sprache: Deutsch
News-ID 23345
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