52• FINANCIAL REVIEW
PANDORAANNUAL REPORT2014
STORENETWORK,
NUMBEROF POINTSOF SALE
2014
2013 Growth
Concept stores
210
166
44
- hereof PANDORA owned
31
26
5
Shop-in-shops
195
172
23
- hereof PANDORAowned
-
-
-
Gold
139
148
-9
Branded
544
486
58
Branded as%of total
80.6% 77.1%
Silver
73
73
-
White and travel retail
58
71
-13
Total PoS
675
630
45
GROWTH IN
LIKE-FOR-LIKE SALES-OUT
1
Q4 2014 Q32014 Q22014 Q1 2014 Q4 2013
vs.
vs.
vs.
vs.
vs.
Q4 2013 Q32013 Q2 2013 Q1 2013 Q4 2012
AUS 20.0% 22.9% 33.0% 33.6% 25.5%
1
Concept stores that have been open formore than12months
ASIAPACIFIC
Growth in
local currency
Concept stores
inAsia Pacific
58.1%
210
Revenue inAsia PacificwasDKK1,679million, constituting
14.1% of total Group revenue, and corresponding to an
increase of 53.5% or 58.1% in local currency compared
with 2013. Growthwas drivenby a positive development in
most of the region.
Revenue inAustralia, constituting6.7%ofGroup revenue,
increasedby18.4% in2014comparedwith2013. In local
currency, thegrowthwas 25.6%.Thegrowth inAustralia
reflectedcontinued strong sales-out growth, fuelledby
successful new launches, aswell as anexpansionof the
branded storenetwork.TheRings category is performing
well inAustraliaand revenue from this categorywas up52%
comparedwith2013.This category representedaround18%
of revenue for theyear comparedwith14% in2013.
PANDORA experiencedpositive like-for-like sales-out of
Australian concept stores throughout 2014.The positive
development was primarily due to an increase in store
traffic drivenby newness in the stores.
Revenue fromOtherAsiaPacific, constituting7.3%of
totalGroup revenue, increasedby111.4% in2014compared
with2013.The increasewas primarilydrivenbyHongKong,
SingaporeandTaiwan inacombinationof strong like-for-like
growthand improvement of the storenetwork.
InAsiaPacific, thedistributionnetwork increasedby45
shops toa total of 675 in2014.The increasewas primarily
related toan increase inbranded stores,whichaccounted for
80.6%of the total number of stores comparedwith77.1%at
theendof 2013.
