Pandora bets big on Melbourne
In this article (5)
Pandora Australia and New Zealand managing director Mikael Kruse Jensen has just signed the dotted line on a five-storey flagship store in Melbourne’s Bourke Street Mall, in a deal that’s understood to be worth almost $1 million in annual rent.
It’s a big store, with a big price tag – but Jensen is bullish on the Australian market after the Copenhagen-headquartered brand unveiled a 12 per cent sales uplift in the June quarter.
The store itself is being designed as an activation hub, with the third floor of the venue set aside for events and staff training.
It will be Pandora’s fourth store in Melbourne’s CBD and its eleventh opening Down Under in twelve months – with more to come.
Questions & Answers
Q.What is the expected annual rent for Pandora's new Melbourne flagship store?
What is the expected annual rent for Pandora's new Melbourne flagship store?
The deal for the new five-storey flagship store in Melbourne's Bourke Street Mall is understood to involve an annual rent payment of almost $1 million. This figure reflects the significant investment Pandora is making in the location.
Q.How many stores has Pandora opened in Australia and New Zealand recently?
How many stores has Pandora opened in Australia and New Zealand recently?
The new Melbourne flagship store will be Pandora's eleventh opening Down Under within a twelve-month period. This indicates a rapid expansion strategy by the brand across the region.
Q.Why is Pandora's managing director confident about this significant investment in Melbourne?
Why is Pandora's managing director confident about this significant investment in Melbourne?
Mikael Kruse Jensen is bullish on the Australian market following a 12 per cent sales uplift reported by Pandora in the June quarter. This positive sales performance underpins the decision for the new flagship store.
Q.What specific purpose will the third floor of the new Melbourne store serve?
What specific purpose will the third floor of the new Melbourne store serve?
The third floor of the five-storey venue is being specifically set aside to host events and for staff training. This suggests the store will function as more than just a retail outlet.
Reader pulse
Is Pandora's Melbourne flagship a smart move?
19,833 votes so far