The Next Chapter: Pandora revamps retail strategy in Australia

Travis Liddle, general manager Pandora Australia & New Zealand

With a stated objective of working closer with independent retailers in the future, Pandora’s strategic shift may have significant implications for the broader jewellery industry.

Travis Liddle, managing director of Pandora in Australia and New Zealand, says that 'rekindling the romance' between the brand and independent stores will be a priority in the coming years.

“In 2024, we took a significant step with our largest store expansion since 2016, making Pandora more accessible to consumers than ever before,” he tells Jeweller.

“This growth has been crucial in raising brand awareness and building excitement.

"Looking ahead, we will focus on steady growth with our standalone stores.”

This could be good news for the local industry because, for more than a decade, an important question has often been pondered: ''Who is going to be the next Pandora?”

There are many reasons why this question has been asked so frequently. Pandora transformed the international jewellery industry, changing long-held store practices, altering the modern understanding of marketing, and even how consumers perceive jewellery.

From humble beginnings in the early 1980s in Denmark, the brand exploded in popularity in the early 2000s, with charm bracelets becoming an ‘overnight sensation’ worldwide.

While the factors behind the rapid rise of a once otherwise unremarkable jewellery brand remain a matter of opinion, the result is clear.

Sold in more than 100 countries from more than 7,800 stores, Pandora is the world’s largest jewellery brand.

“Pandora’s journey in Australia started off small, and it’s important to always remember where we came from,” Liddle explains.

“In the early days, we quickly realised that being a great brand wasn’t enough — we had to grow into a great retailer as well, and these early lessons have shaped who we are today.

“That said, we also recognise that some of the businesses that helped us get to where we are now may have felt overlooked along the way, and that’s something we truly regret.”

These comments refer to a significant shift in Pandora’s strategy in the local market, which occurred around 15 years ago, following the brand’s rapid rise to dominance.

Within five years of the brand’s first appearance at the International Jewellery Fair in Sydney in 2005, Pandora was stocked by more than 700 independent jewellery stores in Australia.

By 2010, the brand also operated around 40 'concept stores’, a term used to describe both company-owned and franchise stores.

However, Pandora’s retail distribution strategy in Australia would change significantly over the next two years. The network of stores owned by the brand became the emphasis, and the number of stockists was dramatically reduced.

By 2020, Pandora’s retail channel appeared significantly different from its heyday.

According to Jeweller’s 2020 State of the Industry Report, Pandora had just 124 independent stockists and operated 125 concept stores.

L to R: Pandora's brand ambassadors Pamela Anderson, Selma Blaire, Chloe and Halle Bailey

Lessons learned

Pamela Anderson, one of Pandora’s renowned 2025 ambassadors, wowed on the red carpet wearing over 100 carats of 225 lab-created diamonds, expertly Pandora’s custom-design team.

Undoubtedly impacted by the global COVID-19 pandemic, these figures only modestly changed by the 2024 State of the Industry Report. At that time, the brand operated 129 concept stores and was sold by 114 stockists.

Pandora’s decision around 2011-12 to reduce stockists and prioritise company-owned stores was a crushing blow for many independent jewellery retailers, most of which were small family businesses.

Liddle says the value of local knowledge and a connection with an established consumer base cannot be understated.

“Many of these independent jewellers are well-respected in their communities, with long-standing customer relationships, and they present Pandora products in a remarkable way,” he explains.

“Their expertise and the trust they've built with their loyal customers bring true value to any brand they work with, as people are generally more open to trying new things from stores they know and trust.”

He continues: “We’re fully committed to reconnecting with these partners, adding value, and working together more closely moving forward.”

While regret is a powerful word, it must be said that Pandora has readily acknowledged the negative impacts associated with shifting away from wholesale partnerships since at least 2020.

Pandora Jewelry CEO Alexander Lacik is reported as saying: “There hasn’t been an awful lot of attention to multi-brand stores [independent stockists] in the last few years. The push has been [company] owned and [franchise] operated stores."

He continued: “We have seen there are some opportunities that we have forgone by reducing the multi-brand presence so much.

"A lot of new customers might come through a multi-brand rather than a concept store.”

With the pandemic firmly in the rearview mirror and analysts offering optimistic forecasts about improving trading conditions and rising consumer confidence in the year ahead, Pandora is planning for better days.

According to Liddle, other changes are afoot: “At the same time and across the coming few years, we aim to upgrade 75 per cent of our existing network to our new store design, which will help generate buzz and breathe new life into the brand.”

Challenging convention

The story of Pandora has captured the imagination of the broader jewellery trade for nearly two decades. After all, who wouldn’t want their business to become an ‘overnight’ sensation?

Pandora symbolised a significant shift in consumer preferences and was a central figure in the widespread adoption of branded jewellery. The brand has also consistently drawn ire and praise for challenging the conventions of the trade, particularly concerning ‘fashion’ and ‘fine’ jewellery.

The industry broadly defines fashion products as made from base metals such as copper, brass, leather, or plastic. Fashion jewellery also includes gold and silver-plated base metal products and 'simulated gemstones' made from glass and crystal.

Many traditional jewellers were quick to dismiss Pandora as merely the latest ‘fashion’ flavour of the month; however, the validity of that criticism was soon questionable at best.

As the brand incorporated ‘fine’ jewellery elements into its designs, the already blurry lines of demarcation became increasingly irrelevant. Liddle says that challenging convention will remain a priority in the years ahead.

“Pandora’s evolution from being primarily a ‘fashion’ jewellery brand to incorporating elements of ‘fine’ jewellery, such as pearls and lab-grown diamonds, reflects our response to shifting consumer preferences,” he says.

“Today’s customers are looking for timeless, high-quality pieces that combine elegance with sustainability and affordability.

“We expect this trend towards fine jewellery to continue as we expand our use of premium materials such as pearls, while still offering designs that maintain the versatility and accessibility Pandora is known for.”

Observe & Report

Pandora Essence is one of these new collections, featuring contemporary designs. At launch, more than 50 pieces were available, including necklaces, rings, and earrings made with cultured pearls.

Pandora described the collection as a challenge to broader perceptions of the brand by highlighting products beyond charms and bracelets. Liddle says that, to date, the experiment has been a success.

“Our goal is to create pieces that resonate with customers looking for both sophistication and emotional connection, offering a wide range of options suitable for every occasion and stage of life,” he explains.

“By blending fine jewellery with our signature style, Pandora remains a brand that appeals to a broad audience, balancing high-quality craftsmanship with lasting value.”

With these goals in mind, what exactly are today’s young jewellery consumers searching for?

Well, it depends on who you ask!

Personalisation and customisation remain ‘hot topics’, reflecting the desire for unique jewellery that expresses character and identity.

The term ‘affordable luxury’ has been bandied around for many years and remains popular as discretionary spending and consumer confidence wilts under cost-of-living pressures.

Coinciding with the need for budget-friendly jewellery is a preference for minimalism and versatility.

Liddle says that while Pandora may have a global presence, the brand is conscious of the unique characteristics of Australian consumers.

“While there are many similarities between our more established markets in Europe and the US, Australian consumers have their own unique preferences,” he says.

“They truly value affordability, sustainability, and building an emotional connection with the brand. Australians tend to focus on high-quality, versatile jewellery that stands the test of time, rather than following fleeting trends.

“Our Moments Collection [Charms & Carries] is still a huge favourite here, but we’ve been excited by the amazing response to our latest collections.”

The brand's adoption of lab-created diamonds in 2021 with the UK launch of Pandora Brilliance was evidence to many that the category would eventually find a resting place as fashion jewellery.

Two years after the launch of that collection, three lab-created diamond jewellery collections were released in Australia.

Liddle says that while consistently declining prices have increased competition, it’s also encouraged the brand to explore new ways of ‘standing out’ in a busy crowd.

“What really sets us apart is that we offer more than just diamonds; we deliver a complete brand experience that’s rooted in ethical sourcing, sustainability, and great design,” he explains.

“Our diamonds are part of a broader jewellery collection that connects with customers on an emotional level and reflects their values.

“While the competition may be tougher, we’re focused on delivering value that goes beyond price, offering pieces that not only look beautiful but also align with what our customers care about.”

The rapid rise of Pandora from a softly-spoken brand to a global powerhouse reshaped the international jewellery industry. More than a decade ago, the decision to shift away from a strong network of independent jewellery retailers left many feeling sidelined.

Pandora readily acknowledges this sentiment, and as planning for the future continues, independent retailers may play an important role in the next chapter of this captivating story. While the future is uncertain, Pandora plans to build its next strategy around proven factors – bringing yesterday's ‘winning moves’ to tomorrow’s market.

With Australian consumers valuing affordability, versatility, and personalisation, the brand is positioned to succeed by continuing to challenge convention by blending fine jewellery staples with the signature style that took Pandora to the top of the mountain.
 

Update: Readers should note that the research for this story started in late 2024, with an interview completed in January. On 6 February, Travis Liddle announced he would be leaving Pandora with his departure effective 28 February 2025.
 

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