// Pandora acquires 37 Pandora franchise store locations in the US to support its long-term growth ambitions
// The move supports the jewellery retailer’s long-term growth ambitions to increase market share and double revenue in the US compared to 2019
The Danish jewellery retailer Pandora is continuing its plans to increase market share in America by expanding its owned-store 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.
In a statement, Pandora said the acquisition will provide customers with “a more cohesive presence and direct omni-channel experience in North America.”
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The move also supports the jewellery retailer’s long-term growth ambitions to increase market share and double revenue in the US compared to 2019.
Pandora’s US business reached over $1 billion in sales in 2021 and had fourth quarter sell-out growth of 39% year-on-year.
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 said it will continue its longstanding business relationship with Ben Bridge following the acquisition with Pandora jewellery being made available in select Ben Bridge retail locations and on benbridge.com.
Luciano Rodembusch, president of Pandora North America, said: “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.”
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.”
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