Pandora has entered into an agreement with Oracle Investment (Hong Kong) Ltd, which involves the joint distribution of jewelry from Pandora in China from July 1, 2015 to December 31, 2018, according to the portal JNA.
After the expiration of this contract, Pandora will take the distribution of jewelry in China under its control. The company plans to accelerate the deployment of its stores, concentrate on retail sales and make significant investments in marketing in the Chinese market. On the other hand, Oracle will share its significant experience of successful operations in the local retail market and knowledge about the specifics of local buyers, as well as information about the real estate market in this country, which will help Pandora choose the most favorable places for their stores.
Pandora CEO Alan Leighton said: "Our new agreement with Oracle will allow the company to gain direct access and control over this attractive market, and it will also allow us to increase our presence on it in the next few years."
At the moment, Pandora owns 30 stores and 19 sales outlets in China.