Danish jewellery giant sets up 'innovation centre' in Bangkok
Pandora, the world's third-largest jewellery company, has invested Bt300 million in an innovation centre in Bangkok to capture the Asian market, setting a global sales target of Bt39.6 billion this year.
Thomas Nyborg, Pandora Group vice president of manufacturing and managing director of production, said economic crises in Europe and the United States had negatively affected people’s purchasing power; therefore, many of the world’s top jewellery brands are interested in Asia, particularly the emerging economies with rising income per capita.
For the past two years, the Danish jewellery giant has paid greater attention to Asia and focused on building brand awareness. It has marketed its products in Thailand for more than 20 years and recently the strategies of digital marketing have attracted 1.6 million people to its Facebook fanpage with more than 45,000 “likes”.
The marketing plan in Thailand is the sole responsibility of Tanachira Retail Corporation.
Currently, Pandora has 10 stores in Thailand, mostly in Bangkok, and 900 branches around the world in 70 countries through 10,200 sale channels.
Recently, it invested Bt300 million in the Pandora innovation centre along with five other manufacturers at Gemopolis Industrial Estate in Bangkok. Its objective is to create and develop its products with technologies and its expertise in arts, as is suitable for the world’s third-largest jewellery brand after Tiffany and Cartier.
Last year, the company achieved sales of Bt36 billion. It targets sales of Bt39.6 billion this year, 12 per cent from Asia, 50 per cent from North America and 38 per cent from Europe.
The targeted growth in Thailand was achieved in the first quarter, 30 per cent from the export sector, worth around Bt17 billion.
