Pandora's sales suffered a sharp decline

In the first quarter of fiscal year 2018, its local income in China increased by 62% in the previous fiscal year to 16%. More worrying is that all of these growth contributions come from the 52 new stores that have been added in the past year, that is, in the Chinese market, there is no growth or even a decline in sales of stores that have opened for more than a year. Anders Colding Friis, the chief executive of Pandora, said the Chinese market was worse than expected, and said it was taking measures to stimulate the Chinese market by adding and redistributing marketing spending and trying to limit the gray markets such as oversea buying. Despite the fact that counterfeit and purchasing problems do exist, Tang Xiaotang, the founder of No Agency, a research and consulting investment agency for luxury goods and clothing retail industry, says that all luxury goods need to face this problem in China, so "no reason for the slowdown in China's growth." He told the new financial observer. In fact, since 2017, Pandora has been showing a slowdown in growth, and the Chinese market is even more, and this is a big drop in the market. After all, Pandora took off at high speed, both in performance and popularity, the most amazing jewelry brand in the past few years, even Tiffany, the king of jewellery (Tiffany). 2013-2016 years is the age of Pandora's exploding red. In the Chinese market, the decline of traditional luxury goods has brought opportunities to Pandora, who is positioned to be extravagant, because of corruption. Regrettably, after a few years, the brand of Zhou Dafu and Zhou Shengsheng were revived, and Pandora's aura became more and more gloomy.