Pandora recently joined Alibaba Group’s business-to-consumer platform, Tmall.com, to further expand the brand’s market reach in China.
The launch on Tmall.com is Pandora’s first online presence in China, which will be followed by the introduction of the company’s own eSTORE in December this year.
Internet retailing in China has become increasingly popular among consumers, driven by faster Internet, greater payment security and increasing convenience, the company said in a press release.
Kenneth Madsen, president of Pandora Asia Pacific, said: “The launch of Pandora jewellery on Tmall.com is another important step in establishing the Pandora brand among Chinese consumers. Tmall is a clear leader in China’s Internet retail space, and is the right business partner for Pandora to get the broadest approach to the Chinese consumer.”
According to the company, the jewellery market in China is the largest in the world, which in 2015 had a value of RMB607 billion (approximately US$90.24 billion), corresponding to an increase of 7 percent compared to 2014. In the period 2016 to 2021, the Chinese jewellery market is expected to grow with a compound annual growth rate (CAGR) of 6 percent, it added, citing a study by Euromonitor.