Pandora announced that it has launched on Tmall.com, a major shopping website in China. This is the brand’s first online presence in China, which will be followed by the launch of their own eSTORE in December, 2016.
In connection with the launch, Kenneth Madsen, president, Pandora Asia Pacific, said: "The launch of Pandora jewellery on Tmall.com is another important step in establishing the Pandora brand amongst 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 consumers."
Pandora’s press release said internet retailing in China is becoming increasingly popular amongst consumers, driven by faster internet, greater payment security and increasing convenience. In 2015, internet retailing in China generated sales of CNY 1,795 billion, corresponding to an increase of 53 percent compared to 2014.
The jewellery market in China is world’s largest jewellery market, which in 2015 had a value of CNY 607 billion, corresponding to an increase of seven percent compared to 2014. In the period 2016-2021, the Chinese jewellery market is expected to grow with a compound annual growth rate (CAGR) of six percent, according to Euromonitor.
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