Pandora Cuts China Retail Prices

[Eleanorwoods0323]

Pandora Jewelry Australia has lowered retail prices for most of the jewelry it offers in the Chinese market in an effort to combat revenue loss from illegitimate sales.

Pandora Charms Cheap has reduced the cost of products by approximately 15% across all its platforms in the region, including eSTORE and its listings on Alibaba Group’s Tmall-ecommerce site, it said last week. By lowering prices, Pandora hopes to limit grey-market purchasing, as well as reduce the retail-price difference between mainland China and other markets.

Revenue declined 9% in Asia Pacific for the first quarter of 2018, it said in May. In China, growth slowed from 62% in the fourth quarter of 2017 to 16% in the first three months of this year. Cheap Pandora Rings attributed that relative weakness to an increase in grey-market trading, in which retailers sell a manufacturer’s genuine products without authorization.

“This price reduction across our jewelry assortment is one element in our strategic program to limit grey-market trading of our products in China, and continue to enhance our customer experience in the world’s largest jewelry market,” said Kenneth Madsen, Pandora’s president for the Asia-Pacific region.

Cheap Pandora Bracelets currently operates more than 170 concept stores throughout China.