Danish jewellery brand Pandora is continuing its plans to increase market share in America by expanding its retail footprint with the largest acquisition of North America franchised stores.
As part of its continued US growth strategy, Pandora has acquired 37 franchise store locations in the US and Canada from Ben Bridge Jeweler, a high-end American watch and jewellery retailer that was Pandora’s largest franchisee in North America.
The acquisition increases Pandora’s owned-store footprint, largely on the US West Coast, and provides “a more cohesive presence and direct omni-channel experience in North America,” added the brand.
The move also supports the jewellery brand's long-term growth ambitions to increase market share and double revenue in the US compared to 2019. It is looking to achieve this through fuelling brand momentum, enhancing product offerings, driving strategic network expansion, and developing a superior omni-channel journey and fulfilment.
Pandora’s US business reached over 1 billion US dollars in sales in 2021 and Q4 2021 it reported sell-out growth of 39 percent, compared to Q4 2019.
Pandora acquires 37 franchise locations from Ben Bridge Jeweler in the US and Canada
Luciano Rodembusch, president of Pandora North America, said in a statement: “The US is Pandora’s largest market and key to achieve the growth ambitions of our Phoenix strategy. As a leading global jewellery brand, we plan to increase market share in North America, and we continually look for opportunities for sustainable growth and to better serve our clients.
“We are thankful to continue working with Ben Bridge after many years, and we are confident this acquisition will help us achieve Pandora’s business goals.”
Pandora and Ben Bridge first partnered in 2010, when Pandora jewellery was introduced in Ben Bridge stores, and the partnership evolved with Ben Bridge opened stand-alone Pandora concept stores in five US states and British Columbia, Canada.
Lisa Bridge, president and chief executive of Ben Bridge Jeweler, added: “We are proud of the strong network of stores that we built over the last dozen years and are thankful for our partnership with Pandora.
“This has been a successful chapter in our business, and we are deeply proud of the team we built. We are excited for these stores to grow further within the Pandora organization and wish them well.”
The Ben Bridge franchise stores opened as Pandora owned and operated stores in five Canada locations on February 25, and in 32 locations in the US across Arizona, California, Hawaii, Oregon, Washington on March 3.
Pandora added that it will continue to work with Ben Bridge moving forward as its jewellery will still be available in select Ben Bridge retail locations and on benbridge.com.
This is the latest expansion for the jewellery brand in the US, in February, Pandora announced a partnership with Macy’s to add 28 locations in “key market locations” across the US, following the success of its five pilot concessions that opened in November 2021.