PANDORA today announced that the Company has launched on Alibaba Group’s business to consumer platform, Tmall.com, providing a further avenue for Chinese consumers to purchase PANDORA jewellery. The launch on Tmall.com is PANDORA’s first online presence in China, which will be followed by the launch of the Company’s own eSTORE in December, 2016.
Internet retailing in China is becoming increasingly popular amongst consumers, driven by faster internet, greater payment security and increasing convenience. In 2015, internet retailing in China generated sales of CNY 1,795 billion (approximately DKK 1,785 billion), corresponding to an increase of 53% compared to 2014[1].
In connection with the launch, Kenneth Madsen, President, PANDORA Asia Pacific, said: "The launch of PANDORA jewellery on Tmall.com is another important step in establishing the PANDORA brand amongst Chinese consumers. Tmall is a clear leader in China's internet retail space, and is the right business partner for PANDORA to get the broadest approach to the Chinese consumer."
The jewellery market in China is the largest jewellery market in the world, which in 2015 had a value of CNY 607 billion (approximately DKK 600 billion), corresponding to an increase of 7% compared to 2014. In the period 2016-2021, the Chinese jewellery market is expected to grow with a compound annual growth rate (CAGR) of 6%, according to Euromonitor1.
ABOUT TMALL.COM
Launched in April 2008, Tmall.com (www.tmall.com) is dedicated to providing a premium shopping experience for increasingly sophisticated Chinese consumers in search of top quality branded merchandise. A large number of international and Chinese brands and retailers have established storefronts on Tmall.com. According to iResearch, Tmall.com was China’s largest platform for brands and retailers in terms of monthly active users in 2015. Tmall.com is a business of the Alibaba Group.
ABOUT PANDORA
PANDORA designs, manufactures and markets hand-finished and contemporary jewellery made from high-quality materials at affordable prices. PANDORA jewellery is sold in more than 100 countries on six continents through approximately 8,900 points of sale, including more than 1,900 concept stores.
Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs more than 17,800 people worldwide of whom approximately 12,000 are located in Gemopolis, Thailand, where the Company manufactures its jewellery. PANDORA is publicly listed on the NASDAQ Copenhagen stock exchange in Denmark. In 2015, PANDORA's total revenue was DKK 16.7 billion (approximately EUR 2.2 billion).
CONTACT
For more information, please contact:
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MEDIA RELATIONS Kristian Lysgaard Director, Group Communications +45 2556 8561 krly@pandora.net |
[1] Euromonitor 2016
