To work towards PANDORA’s long term vision to become the world’s most loved jewellery brand, we have identified the following strategic objectives for the short to medium term:
Focus on PANDORA branded sales channels
We intend to increase the number of PANDORA branded points of sale to derive a higher proportion of our revenues from PANDORA branded sales channels. PANDORA branded sales channels allow us to strengthen the perception of our brand in the retail environment and typically permit an expanded product offering compared with our other points of sale.
Capitalise on our product offering
We design, produce and sell affordable genuine jewellery and continuously aim to improve the product portfolio to meet consumer demand. In terms of product development, PANDORA’s primary focus is to tend the charms/bracelet category and in 2013, we introduced the PANDORA ESSENCE COLLECTION. The secondary focus is to improve the ring offering followed by the earring and necklace categories. To optimise the potential from our product offering, we introduced a new launch structure in 2012, which includes seven annual product launches to the stores compared to previously two annual launches.
Tailor our approach to new markets
We intend to continue entering into new geographical markets as well as building on our presence in existing markets. PANDORA is today present in more than 100 countries, where focus is to expand branded sales. Our newer markets include Italy, France, Russia, China and Japan, which represent a significant opportunity for PANDORA.
Build a global brand
We pursue a global brand strategy focusing on creating brand consistency across all communication channels and markets. To further strengthen our brand, we expect to invest a significant amount of our revenue on marketing. We intend to continue to use the internet to promote our brand as well as to attract and retain customers by fostering customer loyalty through channels such as the PANDORA Club and our Facebook fan page. In 2012, we launched an online sales platform to further increase brand awareness and maximise customer reach as well as to foster the potential for additional revenue opportunities.