Pandora’s charm bracelet business accounts for around 20% of its overall sales, the company reported in August 2018. And that business has faltered.
The brand’s stock has been halved this year due to declining sales. And former CEO Anders Colding Friis, who left the brand at the end of August, told investors on August 18: âWe have been too optimistic about the new products in our charm collections. Consumers prefer a simple look with less charm. They used to wear six to seven charms, now they wear five.
But some believe the brand’s issues run deeper than that.
Retail experts agree that Pandora charms and charm bracelets have had an incredible run, and that run could continue. But no jewelry look stays hot forever, and some believe that Pandora’s staples, which are as recognizable as a classic Coach bag, may just be out of fashion.
The company said it will focus on other categories, including earrings and necklaces, while maintaining and expanding its charm business. But these efforts may not be moving quickly enough.
The brand has launched a collection of 18k yellow gold jewelry, Sparkle, earlier this year, and although it included some very cute layered rings and pendant necklaces, about half of the styles were charms or jewelry related to the charms.
Yesterday, the company announced a new charm bracelet (and new charms to go with it), in an independent press release. Obviously, the brand doubles its heritage of charm. Time will tell if this turns out to be a winning strategy.
The new Pandora Reflections bracelet, a flexible mesh-style bracelet intended to match the interchangeable clip-on charms created specifically for the bracelet, is available in three metals: sterling silver and two signature metal tones, Pandora Rose and Pandora Shine.
âWe’re bringing a new, customizable concept for women looking to personalize their personal expression,â said Stephen Fairchild, Creative Director at Pandora. âReflexions is a new collection that builds on our brand’s DNA. It is also an example of our strategic ambition to lead and innovate in the charms category by offering new and exciting products to customers.
Fairchild explained his team’s thinking behind the design: âUnlike Pandora’s basic charm designs, Reflexions charms are flatter in shape and more elegant, and we expect the clean, timeless look of the bracelet to attract. customers looking for this particular fashion trend that has been emerging recently.
Pandora plans to launch around sixty Reflexions products in 2018, all available in its concept stores and online.
Above: Pandora’s new Reflexions bracelets and charms (photo courtesy of Pandora)
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