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Jewellery maker Pandora has no plans to join platforms like Amazon or Farfetch -CEO -Breaking


© Reuters. FILE PHOTO – Jewels seen at a Pandora jewel shop in central Rome, Italy on August 7, 2018. REUTERS/Max Rossi

COPENHAGEN, Reuters – Pandora (OTC) a jewellery manufacturer said Wednesday that it would rather invest in its own physical shops or an online platform than joining large ecommerce platforms like Farfetch (NYSE) and Amazon (NASDAQ).

Marketplaces are a fantastic opportunity for small brands that have yet to be discovered. They provide an audience and a platform. During a Wednesday interview, CEO Alexander Lacik stated that he already has an audience.

Pandora, the world’s largest jewellery maker by production capacity, has found a niche between cheaper accessories sold by the likes of H&M and more expensive jewellery like that of Tiffany & Co (NYSE:).

“Eight of ten women around the world are aware that our brand exists, so you don’t have to be aware of us.” He said, “I need to demonstrate what I have to offer and it’s easier if there is a close relationship between me and my customer.”

This $12.3 billion firm, with headquarters in Copenhagen has invested more in e-commerce in the wake of the pandemic. The company is visible on China’s platform T-mall, but it is not present on global platforms such Amazon or Farfetch.

Marketplaces must always find a way to compromise with all their clients. He said, “I don’t need to compromise.”

Pandora’s over 2,600 stores in physical form remain at the heart of Pandora’s business. They still represent 75% of all global sales.

Nearly two thirds of my clients are men who buy jewellery for their wives, girlfriends, or children. He said that men who are buying jewelry for their wives, girlfriends or children need assistance.

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