Pandora expands owned and operated footprint with largest acquisition of North America franchised stores
Pandora continues US growth strategy with 37 locations acquired from Ben Bridge Jeweler
Today Pandora, the world’s largest jewellery brand, announces that the company has acquired Ben Bridge Jeweler’s 37 Pandora franchise store locations in the United States and Canada. Ben Bridge Jeweler, a high-end American watch and jewellery retailer, was Pandora’s largest franchisee in North America.
The acquisition increases Pandora’s owned-store footprint, largely on the US West Coast, and provides a more cohesive presence and direct omni-channel experience in North America. It also supports Pandora’s long-term growth ambition to increase market share and double revenue in the US compared to 2019 through fuelling brand momentum, enhancing product offerings, driving strategic network expansion, and building out a superior omni-channel journey and fulfilment.
Pandora’s US business reached over $1 billion in sales in 2021 and had Q4 2021 sell-out growth of 39% vs Q4 2019.
Pandora and Ben Bridge first partnered in 2010, when Pandora jewellery was introduced in Ben Bridge stores. As the partnership evolved, Ben Bridge opened stand-alone Pandora concept stores in five US states and British Columbia, Canada.
Pandora and Ben Bridge will continue their longstanding business relationship with Pandora jewellery available in select Ben Bridge retail locations and on benbridge.com.
“The US is Pandora’s largest market and key to achieve the growth ambitions of our Phoenix strategy,” says Luciano Rodembusch, President, Pandora North America. “As a leading global jewellery brand we plan to increase market share in North America, and we continually look for opportunities for sustainable growth and to better serve our clients. We are thankful to continue working with Ben Bridge after many years, and we are confident this acquisition will help us achieve Pandora’s business goals.”
“We are proud of the strong network of stores that we built over the last dozen years and are thankful for our partnership with Pandora,” says Lisa Bridge, President and CEO of Ben Bridge Jeweler. “This has been a successful chapter in our business and we are deeply proud of the team we built. We are excited for these stores to grow further within the Pandora organization and wish them well.”
The Ben Bridge franchise stores opened as Pandora owned and operated stores in five Canada locations on February 25, 2022, and in 32 locations in the US across Arizona, California, Hawaii, Oregon, Washington on March 3, 2022.
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About Ben Bridge Jeweler
For one hundred and ten years, Ben Bridge Jeweler has had a singular mission: to be your Personal Jeweler. With a commitment to quality jewelry, the highest values, and exceptional personal service, we have brought a lasting sparkle to those days you want to remember forever--from engagements to anniversaries, births to birthdays, promotions to “just because” moments of self-celebration. We care deeply about sustainability and protecting both the people and the environment in every stage of the supply chain. We strive to maintain the highest ethical and quality standards in the industry. It is our honor and our privilege to be a part of your special moments and your milestones across 9 states and online through benbridge.com. #yourpersonaljeweler
About Pandora
Pandora is the world's largest jewellery brand. The company designs, manufactures and markets hand-finished jewellery made from high-quality materials at affordable prices. Pandora jewellery is sold in more than 100 countries through 6,800 points of sale, including more than 2,600 concept stores.
Headquartered in Copenhagen, Denmark, Pandora employs 27,000 people worldwide and crafts its jewellery at two LEED-certified facilities in Thailand. Pandora is committed to leadership in sustainability and will use only recycled silver and gold in its jewellery by 2025 and halve greenhouse gas emissions across its value chain by 2030. Pandora is listed on the Nasdaq Copenhagen stock exchange and generated sales of DKK 23.4 billion (EUR 3.1 billion) in 2021.
For more information, please contact:
| Lindsay Kordik Director, Communications and Sustainability +1 917 580 2644 likor@pandora.net Johan Melchior Director External Relations +45 4060 1415 jome@pandora.net |
