Danish jewellery brand Pandora is exploring strategic changes to its business model in China following a significant decline in sales, according to a report by Reuters.
Since 2019, Pandora’s revenue in China has dropped by approximately 80 percent, prompting the company to consider a range of restructuring options. According to sources cited by Reuters, the company is in talks with local investors and e-commerce operators about licensing its brand, inventory and other assets for a period of up to five years.
Pandora has not commented directly on the reported negotiations, but a company spokesperson confirmed to Reuters that it is “exploring different ways to operate in the Chinese market.” The spokesperson noted that China remains important for the brand but acknowledged that current results “are not satisfactory.”
As part of its efforts to turn around its performance in China, Pandora has already closed about 50 stores and appointed a new managing director — its third in the country since 2022. The company has also been reevaluating its marketing strategy and store network.
Pandora’s difficulties in China contrast with its performance in other major markets such as the United States, where recent results have been more stable. The restructuring efforts are expected to continue through 2025 as the company assesses whether a licensing model could better support growth in China.
According to Reuters, Pandora’s board will review the various proposals under consideration later this year.
