The brand – which operates 2,400-plus concept stores across 100-plus countries — is best known for its buildable charm bracelets. But to leverage growth, Pandora is looking to become a full-service, affordable jeweler.
Chief creative officer Stephen Fairchild said: “By 2022, the business will be a 50-50 split between charms and other jewelry. Now it’s about 75 percent charms. Instead of just a charms and bracelet company, we want to be a full-fledged affordable jeweler.”
This mission includes the creation of new Pandora product ranges — designed by newly appointed creative directors Francesco Terzo and A. Filippo Ficarelli. The duo had worked with Pandora on a consulting basis for nearly three years, and has also leveraged their taste level in consulting work with Hood By Air, Ralph Lauren and Dior, primarily in the accessories space.
Pandora’s 2022 growth plan was partly announced to investors in January at Capital Markets Day in Copenhagen, where Pandora outlined its preliminary strategy. The brand looks to reach between seven and 10 percent growth — a plan it aims to accomplish by expanding jewelry categories including necklaces, rings and pendants as well as introducing at least one new innovative collection concept per year.
Fairchild noted that “While Pandora has worked, we were quite slim as a design organization and needed to build up a stronger design perspective.” Thus, the brand has set up a design studio in Milan with a staff dedicated to furthering and innovating Pandora’s design assortment.
The first innovative concept devised by Terzo and Ficarelli is Pandora’s “Shine” collection — a line of 18-karat gold-plated sterling silver jewelry. The designs exhibit slimmer, more modern proportions than what Pandora is typically known for. The line ranges from $20 to $200, and includes and assortment of pendants, necklaces, rings and bracelets — many utilizing a honeycomb motif.
“I feel like the role of a modern design is to be a curator for a brand,” said Terzo.
Terzo added that he and Ficarelli worked to evolve Pandora’s design codes, steering them toward future consumers. “We found a lot of value in the codes and the idea of storytelling and how Pandora is really built on personalization and diversity. It’s super interesting that this product spans multiple generations and cultures,” he said, noting the brand’s global presence.
“The idea is to continue the journey. It’s a successful brand that is loved by different people in many different countries,” he said.