Expensive and doesn't hold its value? Tens of thousands of yuan to buy second-hand is only worth 100 yuan, and it was rejected! Well-known big names are "abandoned"?
author：Newsroom
Expensive and doesn't hold its value? Tens of thousands of yuan to buy second-hand is only worth 100 yuan, and it was rejected! Well-known big names are "abandoned"?
One by one, it seems
Small beads that are not particularly expensive per unit
Not only "stringed" one
A world-renowned listed jewelry company
It also helped its performance soar
Expensive and doesn't hold its value? Tens of thousands of yuan to buy second-hand is only worth 100 yuan, and it was rejected! Well-known big names are "abandoned"?
▲ Image source: Screenshot of Pandora's official website
The journalist notes that over the past year
Danish jewelry brand Pandora
The stock price has risen by more than 80%
This one was born in Copenhagen, Denmark
The "Little Couple's Workshop"
Why can it grow into a world-renowned,
Let's Tiffany and other luxuries
A popular jewelry brand that is all red-eyed?
First-quarter revenue was $987 million
The ability to absorb gold makes luxury goods blush
"It's hard to find two Pandora bracelets in the world that are exactly the same."
Through the "story-based" marketing and the "pet fan" price of 200~3000 yuan for a single jewelry, Pandora has attracted a large number of girls who want to realize the wish of "luxury customization".
Some netizens said that once you enter the "Panmen", it is as deep as the sea! The following is just the "tip of the iceberg" at home (the following netizens share screenshots↓↓↓)
Expensive and doesn't hold its value? Tens of thousands of yuan to buy second-hand is only worth 100 yuan, and it was rejected! Well-known big names are "abandoned"?
It took only 42 years for Pandora to
From Cartier, Tiffany, Van Cleef & Arpels, etc
"Breakout" among the 100-year-old luxury brands
Seize the leading position in the global mass jewelry market
On May 2, Pandora released data for the first quarter of 2024, showing that the company's revenue increased by nearly 1 billion Danish kroner year-on-year to 6.834 billion Danish kroner (about 985 million US dollars), achieving an organic growth of 18%. Among them, online sales accounted for about 20%, with an organic increase of 24%.
In the first quarter of this year, the sales of LVMH's "jewelry and watches" segment (including 8 brands such as Tiffany and Bulgari) fell 5% year-on-year to 2.466 billion euros.
"In terms of earnings numbers alone, Pandora has outperformed many luxury groups, as well as its jewellery sector." Zhu Guangyu, a senior diamond and jewelry industry expert, said that Pandora's positioning is mass-oriented, so it is more popular.
It is worth mentioning that Pandora's growth was mainly contributed by "lab-grown diamonds", which saw sales surging 87% to 63 million crowns ($9.1 million) in the first quarter of this year.
Although the performance has been growing year after year
But was "abandoned" by Chinese girls
In 1982, Danish goldsmith Per Enevoldsen and his wife founded Pandora in Copenhagen.
Since 2000, the small goldsmithing workshop has grown its global market since 2000 with its signature "string bracelet", with stores keen to be close to luxury brands such as Rolex, Cartier and Tiffany.
In 2010, Pandora was listed on the NASDAQ OMX Copenhagen Stock Exchange.
You can buy it back for a few hundred dollars
A tiny bead
Wear and match it freely on a Pandora bracelet
Show your unique taste
This "sense of customization" has made countless girls excited
There are quite a few consumers on social platforms
Share the joy of buying Pandora beads around the world
Expensive and doesn't hold its value? Tens of thousands of yuan to buy second-hand is only worth 100 yuan, and it was rejected! Well-known big names are "abandoned"?
▲ Netizens shared screenshots
But soon
Consumers are discovering it
Once you enter the "Pan Gate", it is as deep as the sea!
Although it seems to save money by buying them one by one, it is actually a disguised "installment payment". Before they knew it, the girls were spending four or five figures on a string of bracelets.
Expensive and doesn't hold its value? Tens of thousands of yuan to buy second-hand is only worth 100 yuan, and it was rejected! Well-known big names are "abandoned"?
▲ It seems that the unit price is not very expensive, but once it is strung "easily", it will cost thousands or tens of thousands of yuan (netizens shared screenshots)
The girls who are willing to invest heavily in beading have made Pandora from a "mom-and-pop shop" to a jewelry brand with annual sales of more than 4 billion US dollars (about 28.9 billion yuan).
Looking at the financial reports of the past three years, from 2021 ~ 2023, Pandora's annual sales have been rising, respectively 23.394 billion Danish kronor (about 3.379 billion US dollars), 26.463 billion Danish kroner (about 3.821 billion US dollars), and 28.136 billion Danish kroner (about 4.063 billion US dollars).
Expensive and doesn't hold its value? Tens of thousands of yuan to buy second-hand is only worth 100 yuan, and it was rejected! Well-known big names are "abandoned"?
▲ Screenshot of Pandora's annual report for fiscal year 2023
But
At the same time as Pandora's overall performance is growing
The "magic box" of its Chinese market has failed!
The reporter found that Pandora's "highlight moment" in the Chinese market was in 2019, with sales of 1.97 billion Danish kroner (about 284 million US dollars) that year, and then began to go "downhill". By the first quarter of this year, Pandora's sales in the Chinese market fell by 17% year-on-year to 110 million Danish kroner (about 15.873 million US dollars).
According to public data, after entering China in 2015, Pandora took four years to open more than 240 stores. The reporter inquired through the Pandora applet that up to now, the brand has 215 stores in the mainland market, of which the top 5 cities in terms of the number of stores are: 26 in Shanghai, 19 in Beijing, 11 in Guangzhou, 11 in Shenzhen, and 10 in Chengdu.
Expensive and not holding its value?
10,000 yuan bracelet was "rejected" by the jewelry secondary market
Pandora is a consumer in China
Polarization in the mind
Quotes from the secondary market for jewelry
You can see it
"When you enter the pit, you must go to the ends of the earth to find the shadow of Pandora." Some consumers posted on social platforms, "Who would have thought that it would not retain its value at all except that it would be black."
Expensive and doesn't hold its value? Tens of thousands of yuan to buy second-hand is only worth 100 yuan, and it was rejected! Well-known big names are "abandoned"?
▲ Screenshot of the reporter's chat conversation with second-hand luxury merchants
Netizens said that they couldn't even sell it at a price of 10 yuan/gram, so they could only sell it at a gram price of 5.1 yuan, and the Pandora half-circle bead bracelet that they spent a few thousand yuan on at that time was only worth 193 yuan.
Expensive and doesn't hold its value? Tens of thousands of yuan to buy second-hand is only worth 100 yuan, and it was rejected! Well-known big names are "abandoned"?
▲ Netizens shared screenshots
Expensive and doesn't hold its value? Tens of thousands of yuan to buy second-hand is only worth 100 yuan, and it was rejected! Well-known big names are "abandoned"?
"I can't even find anyone to pick it up!" A former Pandora "true love fan" said that this year she asked a number of luxury recycling merchants how much the Pandora bracelet she bought at that time was worth for nearly 10,000 yuan. The other party replied: "No, we only accept first-line big names."
The reporter learned from a number of second-hand luxury merchants that Pandora's recycling market is poor. "Pandora is not a luxury, it doesn't hold its value enough. In addition, as far as identification is concerned, there is no identification point for its material and process. ”
At present, most of the second-luxury merchants who recycle Pandora on the market charge by their silver jewelry weight, and the price is very low, ranging from 5 yuan to 10 yuan per gram.
Expensive and doesn't hold its value? Tens of thousands of yuan to buy second-hand is only worth 100 yuan, and it was rejected! Well-known big names are "abandoned"?
Expensive and doesn't hold its value? Tens of thousands of yuan to buy second-hand is only worth 100 yuan, and it was rejected! Well-known big names are "abandoned"?
▲ The material of Pandora jewelry (screenshot of the brand applet)
Zhu Guangyu, a senior diamond and jewelry industry expert, believes that most Chinese consumers are very pragmatic, looking at the materials and the value attributes; And Pandora's material has led many people to think that it is expensive.
After the reporter's inquiry, it was found that most of the materials of Pandora beads are cheap, such as copper-silver alloy, 925 silver, zirconia stone, etc.
In Zhu Guangyu's view, Pandora's sales in China will not be very optimistic in the short term. Nowadays, most consumers pay more attention to products that can maintain and appreciate their value, such as gold, and generally do not pay attention to inlays.
Have you ever bought a Pandora?
Think it's worth it?
Let's talk about it in the comment area~
Source | Daily Economic News (Reporter: Du Wei, Ding Zhouyang)
