22•BUSINESS STRATEGY
PANDORAANNUAL REPORT2014
Seeking growth globally
With9,906points of sale acrossmore than90 countries,
PANDORAproducts are readily available to customers
almost anywhereon the globe. In2014,we continued to
growour presence innewmarkets,while at the same time
growing revenue indevelopedmarkets.Wedid this through
a continuous effort to renew anddevelopour product
offering andour storenetwork.
Growing innewmarkets
Our aim is to reduceour dependencyon individualmarkets
and seek growthopportunities by entering and expanding in
newmarkets.We apply a tailored approach tonewmarkets
inorder tobest take advantageof opportunities, present our
brand the rightway andmitigate risk.This tailored approach
also applies tomarketing and the split betweenbranded and
unbranded stores.
Italy, France andRussia are threeof Europe’s largest
jewellerymarkets. Revenue in these threenewmarkets for
PANDORA, constituting around15%of total revenue in
2014, increased57.0% comparedwith2013.There is still
great growthpotential in all threemarkets andwe aim to
expandour business here.
Asia is still a verynew region for PANDORA andholds
great potential for theGroup. PANDORAhas had apresence
in this region since2009, but its presence in large jewellery
MARKET STRATEGIES
EUROPE
EBITDA
5,304
DKKmillion
2,298
DKKmillion
786
EBITDA
4,959
DKKmillion
2,053
DKKmillion
414
AMERICAS
Revenue
Concept stores
Revenue
Concept stores
