PANDORA is a unique jewellery brand that allows customers, mainly women, to design their own bracelet. It had started as a jewellery importing company to manufacturing, designing and distributing its products globally!
PANDORA is approaching new markets by firstly expanding their existing retail outlets in well established markets. This way, they could focus more on increasing sales through franchises and directly operated retails stores. Secondly, they intend to use internet to promote and retain customers through channels of PANDORA Club and Facebook page. Lastly, they plan to develop an online sales platform to further maximize consumer reach and generate sales. All of these marketing strategies will increase brand awareness and hope to create brand loyalty.
The industry of jewellery making has been quite saturated, which has provided the opportunity to change the purpose of wearing jewellery. PANDORA certainly stands by their vision and mission statements since 1982, which has guided them in their success to produce affordable luxury value and high quality jewellery to become the world’s most recognized jewellery brand. Today, PANDORA is present in over 70 countries.
From a business perspective, it is successful in that they could mass produce their collections and products, and pushes the customization down to the consumer. This way, it breaks down the entire value of the bracelet accessory value into smaller segments that are personalized and individualized. PANDORA is very successful in fostering and marketing with self-expression as well as allowing women to build a story of their experiences through jewellery.
The current Essence Collection markets to your inner values and how you choose to express yourself. The bracelet and charms captivates self-expression with jewellery to a different level. The charms are named after characteristics of human being — Love, Courage, Hope, Faith, Honesty, Wellness, Joy..etc. These charms strives to capture the inner value of the individual and not one bracelet would look the same as each woman is unique. The concept of this collection is for women to “Express the essence of you”.
Reference:
http://pandoragroup.com/About-Pandora/Business-Strategy