Pandora ramped up franchise store acquisitions during Q1

Pandora ramped up franchise store acquisitions during Q1

In the first quarter of the year Pandora acquired 17 franchise stores, mainly located in the UK. According to the jewellery giant’s Q1 report, the business continued to expand its retail network and globally added 48 new owned and operated concept stores, which included the acquisition of 17 franchise stores, predominantly from the UK In March alone Pandora took over six stores in the region. All in all, revenue growth for the company increase by 6% in local currency for Q1 2018 This was mainly driven by EMEA as Asia Pacific experienced a slowdown mainly due to lower growth in China.

A commercial plan to strengthen the Chinese business is now being implemented. In the EMEA, revenue soared by 16% in local currency, compared to the same period in 2017 The brand attributes this growth to strong performances in Italy, France and Germany However, the brand reported that the UK remains a “challenging retail. Source

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