Denmark-based jewellery brand Pandora has entered India’s jewellery market by opening its first store in the country. Pandora has granted exclusive distribution rights for their jewellery in India to Pan India Charms & Jewellery Private Limited (Pan India).
The concept store is located on the ground floor of DLF Mall in Noida and carries Pandora’s jewellery collections, including the brand’s Moments collection, the Essence collection as well as the Rose collection.
“The modern aspirational Indian woman is a section that represents the veering away from wearing predominantly gold jewellery and becoming more fashion conscious and finding unique ways to express their style. Making the brand Pandora accessible to these very customers is what excited us to pursue this business,” Devika Bakshi and Kanika Bakshi Talwar, Managing directors of Pan India, said in a joint statement.
Through its distribution partner Pan India, Pandora is aiming to establish branded sales distribution focusing on concept stores and shop-in-shops, initially in Delhi, Mumbai and Bangalore.
Pan India is expected open around 50 concept stores in India over a three year period, with around five stores expected to be opened in 2017.
The jewellery market in India, which is predominantly a gold and diamond market, is one of the largest jewellery market in the world and in 2015 had a value of INR 2,947 billion (approximately DKK 300 billion), corresponding to an increase of 18% compared to 2014.
In the period 2016-2021, the market is expected to grow with a compound annual growth rate (CAGR) of 7%, according to Euromonitor.
(Source: Fashion Network)