Pandora decided to acquire its licensed store multilevel in Belgium and pandora rings special offer Luxembourg from distributor Gielen Trading as the company aims to take higher control of its brand.
The Copenhagen-based jeweler can pay Gielen Trading $14. 6 million (EUR 14 million) for any stores, of which $2. 1 million (EUR 2 million) is related to inventory. The deal will get effect on June 30 when Pandora will require control of the stores plus Gielen Trading’s distribution rights reach its expiration date.
“Gaining control of the submitter of Pandora jewelry in already established markets can be an integrated part of our strategy to generate control of our brand, ” explained David Allen, Pandora’s president to get Europe, the Middle East and Africa. The company aims to “establish Pandora because most loved jewelry brand inside these countries, ” he put in.
The deal will add 13 concept stores and three shop-in-shops to be able to pandora rings special offer roster of retail spots in Belgium and Luxembourg. The stores Pandora is procuring and its existing wholesale network in the two countries generated revenue with about $21. 9 million (EUR 21 million) in 2015, the organization said.