The sales by the Danish owned jewelry company Pandora dropped to 118 million Danish crowns in the fourth quarter from 143 million Danish crowns the previous year.
This is lower than what the Pandora corporation expected. However they do remain optimistic:
“We’re in there for the long game. It’s going to be step by step, and one day China will be a significant portion of Pandora,” CEO Alexander Lacik said in an interview with Reuters.
Pandora sold 107 million pieces of jewelry in 2023, which is 4 million more pieces than in 2022. They are now focusing on building their brand. Opening more stores and moving further away from wholesale.