Pandora acquires 37 franchise locations in North America
Jewellery brand Pandora has acquired 37 Pandora franchise store locations in the US and Canada to support its long-term growth ambitions.
The company has purchased the sites from high-end watch and jewellery retailer Ben Bridge, which was Pandora’s largest franchisee in North America. Pandora embarked on a partnership with Ben Bridge in 2010 when Pandora jewellery was introduced in Ben Bridge stores. As the partnership evolved, Ben Bridge subsequently opened standalone Pandora concept stores in five US states and in Canada’s British Columbia.
In a statement, Pandora said the acquisition has expanded its owned-store footprint, largely on the US west coast, and will provide customers with a more cohesive presence and direct omnichannel experience in North America. The company is working to increase market share and double revenue in the US on 2019. Pandora’s US business reached over $1 billion in sales in 2021 and had fourth quarter sell-out growth of 39% year-on-year.
Pandora said it will continue its longstanding business relationship with Ben Bridge following the acquisition with Pandora jewellery being made available in select Ben Bridge retail locations and on benbridge.com.
Luciano Rodembusch, president of Pandora North America, said: “The US is Pandora’s largest market and key to achieve the growth ambitions of our Phoenix strategy. 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.”
