Pandora gains ground in the Iberian Peninsula. The Danish jewelry and accessories company has repurchased its business in Portugal, which will now be managed from Spain, as explained by the company to Modaes.
Until now, the distribution of Pandora in Portugal was managed by Visão do Tempo, which took over the jewelry group’s business in the country sixteen years ago. The company operates in Portugal with 35 stores and has a presence in 120 multi-brand points of sale.
Olivier Kessler-Gay, general director of Pandora for Western Europe, has indicated through social networks that, after taking over the company’s business in Portugal, “our duty is to build a solid base”. The amount of the operation has not transpired.
Until now, Pandora operated in Portugal through the distributor Visão do Tempo
After the purchase, Spain will assume the management of Pandora’s business in the Portuguese market. The Danish company plans to keep its staff in the country and merge the commercial departments of both regions.
At the head of both markets is Alizée Huitorel, who took over the management of Pandora for Spain and Portugal last January. With training in Law, Finance and Marketing, the director has extensive experience in the fashion sector.
Huitorel began his career at Chanel in the data analysis department and later worked in the marketing department of Omega and Longines. In 2012, the executive signed for Calvin Klein, until in 2016 she joined Zadig & Voltaire. In August 2018, Huitorel went on to work as the commercial and operations director of Sephora in Spain until she made the leap to Pandora.
In Spain, the company has just taken control of its business in El Corte Ingléswhere until now it had a model wholesale and added 69 points of sale. Pandora also has 81 own stores in Spain, fifteen franchises and 300 multi-brand points of sale. For Pandora, the markets of Spain, France and Portugal account for 10% of sales.
Since January, Alizée Huitorel has been in charge of the group’s business in Spain and Portugal.
Pandora operates directly in the Spanish market from 2017, when he paid 110 million euros to buy his business from City Time, his until then distributor in the country. At that time, the company had a turnover of around 94 million euros in Spain, excluding the online channel.
The Danish group is immersed in the strategic plan Phoenixvertebrate in the promotion of the brand, innovation, personalization in the offer and the growth of the business in the United States and China.
On a global scale, Pandora ended the last financial year recovering sales from before the pandemic, with an increase of 9.4% compared to 2019. Compared to 2020, the group increased its turnover by 23%, to 23,394 million Danish crowns. The profit of the group, for its part, increased by 41% compared to 2019.