Did you know?
Celebrities have loved PANDORA Jewelry for years, wearing the pieces at Coachella and even on the red carpet.
Pandora was founded in 1982 by Danish goldsmith Per Enevoldsen and, his then-wife, Winnie Enevoldsen. The pair began on a small scale by importing jewelry from Thailand and selling to consumers. It started selling its signature charm bracelets in 2000 after several years of development, protected by a patent.
This can only be achieved through a firm with extensive knowledge, experience, and innovative strategies. To determine the strengths of the company potential, weaknesses, opportunities, and threats, it is necessary to conduct a SWOT analysis by Pandora Jewelry.
Pandora Jewelry At A Glance – Pandora Jewelry SWOT Analysis
Company: Pandora A/S
Founders: Per Enevoldsen | Winnie Liljeborg
Year of establishment: 1982, Copenhagen, Denmark
CEO: Alexander Lacik
Headquarters: Copenhagen, Denmark
Employees (Dec 2020): 22,336
Ticker Symbol: PANDY
Annual Revenue (Dec 2020): US$2.12 Billion
Profit net income (Dec 2020): US804 Million
Products & Services: Bracelets | Rings | Earrings | Necklaces | Pendants
Company Website: us.pandora.net
Top Pandora Jewelry Competitors
Competitors: Tiffany | Blue Nile | Harry Winston | Chopard | Graff | Bulgari | Zales | De Beers | Swarovski | Shane | First Jewelry | Ritani | Eat the Leaf | Zale
Pandora Jewelry SWOT Analysis – SWOT Analysis Of Pandora Jewelry
SWOT Analysis Of Pandora Jewelry analyzes the brand based on its strengths weak points, weaknesses, opportunities, and threats. With Pandora Jewelry SWOT Analysis it is clear that the advantages and disadvantages are internal factors, while threats and opportunities are external elements. Here we are going to talk about Pandora Jewelry SWOT Analysis. Below Is The Detailed SWOT Analysis Of Pandora Jewelry.
Pandora Jewelry Strengths – Pandora Jewelry SWOT Analysis
1. Trendsetters: The key reason for the popularity in the business of Pandora Jewelry is the manner that it is able to create trends and fads, then follow them. For instance, whether it’s the famous charm bracelets on the US or the customized jewelry available from Canada Pandora is always an innovator.
2. The global presence: Pandora Jewelry that started with a single store within Copenhagen, Denmark as a family-owned business, now has approximately 10,000 stores across the globe in about 70 countries. The rapid growth rate that is Pandora Jewelry started off in 2003 when it entered the US. Pandora sells one piece of jewelry each second, making it the top popular brand worldwide.
3. End-to-end control: Pandora Jewelry sells customized jewelry, and to achieve this, the company requires the full control of its activities. Pandora Jewelry has integrated backward vertically and currently controls in-house manufacturing, design as well as global marketing as well as directly selling. Pandora has spent over two decades developing its method and business model, with the goal to design and create high quality, customized jewelry for customers all over the globe.
4. Moving of jewelry: Jewelry could be considered costly and consumers weren’t willing to spend as much on jewelry as they did for other expensive items. Yet, Pandora repositioned jewelry making it accessible to everyone and creating unique trinkets that were emotionally connected to the consumer through unforgettable memories.
5. The right Distribution Strategy: Pandora has frequently redesigned the distribution strategy according to the location of operations. For instance, in Canada the company has discovered every major mall and opened stores at all of them. Furthermore, around the globe, the distribution methods used are based on points for sale, concepts stores run by partners or other third parties shops-in-shops, shop-in-shops, and stores for silver and gold jewelry retail stores, and boutiques that aren’t branded.
6. Education for Franchisees: The franchisees of Pandora Jewelry have a lot of autonomy in their business however the company insists that they complete rigorous training. Training ensures that franchisees are skilled in all areas of their operations, including merchandise, product development, performance measures, real estate and distribution.
Pandora Jewelry Weaknesses – Pandora Jewelry SWOT Analysis
1. Overly focused in the field of jewelry: Pandora Jewlery has been exclusively focused on jewelry while possibilities are expanding in other areas like accessories, clothing or textile. The focus on jewelry will lead to the company not being able keep its momentum over the long term.
2. Poor strategy for communication: In the current era of advertising, Pandora hasn’t been able to sustain or formulate a clear communications strategy. The low advertising efficiency for the business has led to less exposure for the brand, with the result that stronger brands have assumed the brand’s position.
3. Poor strategy: Though operationally the firm was doing well but the company was forced to continuously increase prices to compensate for their low margins. Furthermore they also needed to constantly re-engineer their products to meet the needs of their high-end customers.
Pandora Jewelry Opportunities – Pandora Jewelry SWOT Analysis
1. Changes in customer preferences: People are choosing to spend increasing amounts of time shopping, as their discretionary income has grown. The growing popularity of the online shopping stores has opened up a brand new avenue that retailers can use. There are many new categories of jewelry, such as gemstone, antique, handcrafted and more. Each of these presents a myriad of new opportunities for Pandora.
Pandora Jewelry Threats – Pandora Jewelry SWOT Analysis
1. Contest: The top competitors of Pandora is Chamilia, Chopard, and Mouawad.
Pandora Jewelry SWOT Analysis Overview Template
This is the SWOT report that Pandora Jewelry has done. Please let us know if you have additional suggestions to add.
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