Pandora plans to close stores in China after suffering setbacks

According to relevant data, in the fourth quarter of 2024, Pandora's comparable sales in the Chinese market plummeted by 10%, with revenue of only 104 million Danish kroner and a market share of less than 1%. In the face of such a tough situation, Pandola plans to close at least 50 stores in China. At the time, Pandora operated 198 stores in China, meaning the closure would represent at least 25 percent of its Chinese store network.

According to the analysis, Pandora's light luxury positioning deviates from the psychological expectations of Chinese consumers, resulting in poor market performance. There is a significant penetration gap compared with top European brands, which also reflects the challenges faced by light luxury brands in expanding in the Chinese market. In the future, how Pandora breaks the game in the Chinese market is worthy of attention.

Resource: 经济观察报