Pandora distributor JSC Panklub will rebrand its stores in Russia from the Danish jewelry brand to Pan Club. This is a forced decision, as the manufacturer decided to cut ties with the Russian market after the start of a special operation in Ukraine, Kommersant learned.
After that, Panclub faced a product shortage due to the cessation of Pandora’s supplies of its jewelry to Russia. The publication found this information in court materials, where there was a process between the provider and the operator of Enka TC shopping centers for rent payments.
The transition to a multi-brand format will allow the network to replenish Pandora’s abandoned range and even expand it, analysts say.
According to SPARK-Interfax, two years ago, the revenue of Panclub JSC amounted to 4.6 billion rubles. However, already in the first half of 2022, the chain’s sales fell by 41.6%, to 1.7 billion rubles, and its share of the Russian market decreased from 2% to 1%.
- In May 2022, Pandora announced plans to resume work in Russia. The company then transferred the rights to its Russian business to a partner from Serbia, who will conduct business in Russia.
Author:
karina pardaeva
Source: RB
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