Environmental, social, and governance concerns are growing everyday and progressively taking a e prominent place in business decisions across all industries.
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The demand for investing strategies based on ESG, factors is being driven by women and millennials, who, by 2025, will make up three-quarters of the workforce.
Morgan Stanley’s annual ESG rating of the fashion industry once again found Pandora ahead of the heard. Indeed, for the second year in a row, the Danish jewellery manufacturer and retailer ranked ahead of renowned companies such as Kering, Adidas, Nike, LVMH Moët Hennessy Louis Vuitton, Dior and Hermes.
Source: Morgan Stanley
Pandora is praised for their responsible purchasing of gold and silver and for excellent labour conditions.
Trine Pondal, Pandora’s Head of Sustainability, renewed the company’s wish to make “jewellery as sustainable as possible, while also making sure that our employees all over the world enjoy good working conditions”.
“We believe that our initiatives in this area not only benefit Pandora but also our suppliers and the rest of the jewellery industry”, he said.
Pandora’s work in the ESG field has been made possible through close monitoring of the company’s process from manufacturing to distributing.
As part of the company’s strategy to increase its own operated retail footprint in important markets, Pandora is taking back complete ownership of the brand in Greater China as it today signed an agreement with Carrera Corporation to acquire its Pandora store network in Taiwan on 1 January 2019.
With the agreement, Pandora will add five concept stores and 14 shop-in-shops to its retail network giving the company complete ownership of the brand and distribution in Greater China (Mainland China, Hong Kong, Macau and Taiwan).
SEE ALSO: Pandora APAC sales up 34%, eyes 60 more China stores
Pandora will pay approximately HKD 120 million (DKK 100 million) in cash for the assets. The sell-out revenue in Taiwan was HKD 240 million in 2017.
Kenneth Madsen, President of Asia Pacific in Pandora, believes “having complete ownership in Greater China will support Pandora’s growth and development strategy in the entire Asia Pacific region”.