"Pandora România" expects sales of over 2 million Euros next year

• The management of the company also intends to see the company develop through franchise

The Pandora jewelry stores entered the Romanian market this autumn. Lucian Adochiţei, manager at Pandora Jewelry Romania, says that since the launch, sales have exceeded expectations. In 2012, the management of "Pandora România" expects sales of over 2 million Euros.

Most of the jewels which Pandora sells in Romania are made out of silver. Mr. Adochiţei said that following the increase in the price of gold and silver, the officials of the company decided to keep the price of jewels unchanged, which cut into the company"s profits. Prices of Pandora products range from 69 lei to 5,000 Euros. The manager of the company said that, compared to the local market, prices are in the upper range, but are quite affordable when compared to the foreign markets.

Lucian Adochiţei also said that the "Pandora" jewels first and foremost target women with high revenue, active, and with a strong personality, who are trying to be different. The products sold by "Pandora" are handmade at the company"s plant in Thailand, which has over 3,000 employees. The jewels are made entirely out of silver and gold. Most of the gems used are precious or semi-precious stones. Pandora jewels usually differentiate themselves from other jewels through their design, their brand, and their handiwork.

Swiss watches will be available in Pandora stores in about a month and a half.

Mr. Adochitei plans to open three more stores in Bucharest, as they are all profitable. "We are looking for retail areas that would be fit for us, at good rates, with a surface ranging between 50-70 square meters. Outside Bucharest, we want to open a store in each of the major cities, such as Constanţa, Cluj, Timişoara, Braşov. There were talks about opening a new store in the Republic of Moldova, but this has not yielded any concrete results. Moreover, we want to develop the wholesale network and we already have our first partner - the Sabrini multibrand store".

The management of Pandora România is also considering expanding its business through a franchise. "The investment for a franchisee of "Pandora" would amount to about 200,000 Euros, which would be needed for inventory (products) and standard furniture brought over from Denmark".

The Romanian branch is managed by "Pandora Poland", which handles the markets of Eastern Europe and of the Middle East. This year, sales in Poland, Russia and Dubai have exceeded those of Germany. In Central and Eastern Europe, Poland saw the largest increase in sale, and Russia also posted a significant increase in sales, as the company opened 22 stores in the country over the last 22 months.

Pandora was founded in 1982 and is present in 55 countries, having over 10,000 retailers and 500 concept stores. Last year, sales amounted to approximately 895 million Euros.

Since 2010, "Pandora" is listed on the Denmark Stock Exchange. In the beginning the stock rose significantly, but it has now dropped significantly, because of the rise in the price of raw materials - gold, silver.