COPENHAGEN: Jewellery maker Pandora would prefer to invest in physical stores or its own online sales platform instead of joining large e-commerce marketplaces like Amazon or Farfetch, its chief executive said on Wednesday.
If you're a small and unknown brand, marketplaces offer a great opportunity because they provide you with an audience. I already have an audience, said Alexander Lacik, CEO at the Reuters Next conference on Wednesday.
Pandora, the world's largest jewellery maker by production capacity, has found a niche between cheaper accessories sold by H&M and more expensive jewellery like Tiffany Co.
Eight out of ten women in the world are aware of our brand, so I don't need to make you aware of me. He said that if you have a direct relationship with your customer, what you need to do is to show you what you have got.
The US $12.3 billion company, headquartered in Copenhagen, has increased investment in e-commerce during the epidemic. It is present on China's T-mall platform but not on large global platforms like Amazon or Farfetch.
The marketplace has to make a compromise for all the clients they are serving. He said I don't have to compromise.
There are more than 2,600 physical stores, which are the heart of the business, and still account for 75 per cent of global sales.
Nearly two-thirds of my customers are men who buy jewellery for their girlfriends, wives, grandmothers or children. He said that men who are buying jewellery need help.