Food
PANDORA announced that the Company has launched on Alibaba Group’s business to consumer platform, Tmall.com, providing a further avenue for Chinese consumers to purchase PANDORA jewellery. The launch on Tmall.com is PANDORA’s first online presence in China, which will be followed by the launch of the Company’s own eSTORE in December, 2016.
Internet retailing in China is becoming increasingly popular amongst consumers, driven by faster internet, greater payment security and increasing convenience. In 2015, internet retailing in China generated sales of CNY 1,795 billion (approximately DKK 1,785 billion), corresponding to an increase of 53% compared to 2014.
In connection with the launch, Kenneth Madsen, President, PANDORA Asia Pacific, said: “The launch of PANDORA jewellery on Tmall.com is another important step in establishing the PANDORA brand amongst Chinese consumers. Tmall is a clear leader in China’s internet retail space, and is the right business partner for PANDORA to get the broadest approach to the Chinese consumer.”
The jewellery market in China is the largest jewellery market in the world, which in 2015 had a value of CNY 607 billion (approximately DKK 600 billion), corresponding to an increase of 7% compared to 2014. In the period 2016-2021, the Chinese jewellery market is expected to grow with a compound annual growth rate (CAGR) of 6%.
