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Pandora ramps up expansion plans in Mexico
Danish jewelry brand Pandora announced in August plans to open more than 10 concept stores in Mexico, and has now revealed that seven further stores will be rolled out in Mexico City, Puebla, Veracruz, Acapulco and Toluca before the end of the year. This effort will take the number of Pandora stores in Mexico to 50.
Pandora took control of its business in Mexico earlier this year. It plans to open a new brand at Parque Delta shopping center in Mexico City in the coming months.
Two additional stores will open in the city of Puebla, located at Parque Puebla and Galerias Serdan, while two branches will roll out in the Mexican port city of Veracruz at Plaza Andamar and El Dorado.
The company, which opened in September in Chihuahua at the Fashion Mall, will also open new locations in Acapulco and Toluca. The stores will be located at Galerias Diana and Galerias Metepec, respectively.
The new openings add to the brand’s 12 concept stores announced in August and its portfolio of established shops – the majority of which launched during the first six months of the year. The brand is moving closer towards its goal of increasing its number of standalone stores by four times.
In addition to its stores in cities including Villahermosa, Monterrey and Guadalajara, Pandora has a presence in the department store chain El Palacio de Hierro and several partnerships with retailers.
In 2016, Pandora increased is revenue by 21% to 20.3bn Danish crowns, while EBITDA jumped 27% to 7.92bn.
Founded in 1982 and headquartered in Copenhagen, Denmark, the jewelry brand is available in more than 100 countries and five continents through more than 9,000 stores.
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