Pandora tightens control over distribution in Ireland

By

Barbara Santamaria

Published
May 22, 2018

Pandora will take full control of its operations in the Republic of Ireland and Northern Ireland after agreeing a deal with its local partner, the BJ FitzPatrick Group.

The Danish jewellery brand has agreed to pay 23 million euros (£20 million) to BJ FitzPatrick Group to buy the Pandora store network in Ireland. These stores turned over approximately 24 million euros last year, according to the brand.

Pandora will also regain control of the brand’s wholesale activities when BJ FitzPatrick Group’s distribution right to Pandora in the Republic of Ireland and Northern Ireland expires in June. The wholesale network in Ireland generated sales of nearly 5 million euros in 2017.

The acquisition is another step in Pandora’s ambition to increase the directly-owned and operated retail footprint in key markets, following a flurry of purchases of distribution rights and franchise stores across the world.

With the new agreement, Pandora will add 24 directly-owned concept stores and one shop-in-shop in Ireland to its retail network, and take over distribution to five franchisee concept stores and 10 shop-in-shops, mainly in Northern Ireland.

David Allen, EMEA President at Pandora, said: "Over the years BJ FitzPatrick has ensured that both the Pandora brand and store network have been developed across Ireland. As an integrated part of our strategy to increase control of our brand and the distribution of Pandora jewellery, we will now continue the efforts to establish Pandora as the branded manufacturer that delivers the most personal jewellery experience."

The agreement will be effective from 1 June 2018.