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Pandora plans for ten new UK stores as demand grows

Chloe Burney
21 February 2023

Pandora, known globally for its silver charm bracelets, is planning to add up to ten new stores in the UK and Republic of Ireland in the next year.

The Danish jewellery retailer currently has 230 stores in the British Isles, nine of which opened last year. By the end of 2022, the company boasted 2,540 stores globally, two third of which were operated by Pandora, with the rest run by franchisees.

Rasmus Brix, Managing Director for the UK and Ireland, commented: “Physical retail is here to stay… one of the places we’re significantly expanding the network is in Greater London. It’s one of the places we’re less penetrated and so we’ll be doing a cautious expansion.”

Brix confirmed that four new brick-and-mortar shops would be in London, with more expected to open in the capital in 2024. One of these new stores will be in the new 70-88 Oxford Street development, due to open this summer.

The planned openings in Britain and Ireland are just the tip of the iceberg - the company, which was founded by Per Enevoldsen in 1982, has wider global expansion plans. Pandora expects prime location spaces to open up due to the weak economy, targeting 50-100 store openings globally over the next year.

This news follows the jewellery giant’s report of “resilient growth” in its Q4 and full-year results, which included sales of £1.18 billion (DKK9.9 billion) in Q4, surpassing analyst expectations.

The company reported that Q4 organic growth was 4% year on year and 19% when compared to the same period in 2019, the most recent pre-pandemic year.

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