Pandora acquires store network in Portugal
Jewellery retailer Pandora has acquired 34 store locations from the distribution and sales network of Visão do Tempo, its distributor in Portugal.
After introducing Pandora to the Portuguese market 16 years ago, Visão do Tempo now operates 25 concept stores and nine shop-in-shops in the country.
Following the acquisition, all 34 locations will open as Pandora owned and operated stores.
Olivier Kessler-Gay, general manager of the Western Europe market cluster at Pandora, said: “Portugal is one of the top markets in Western Europe and we see great potential to further strengthen our brand and drive growth. I would like to thank Visão do Tempo for launching Pandora in Portugal 16 years ago and for their dedicated stewardship ever since. Pandora is today a main actor in the Portuguese jewellery sector, and we plan to continue the positive development.”
Pandora said the move supports its Phoenix strategy which aims to drive growth through strategic network expansion. Most of the stores are situated in cities and premium locations and attract both Portuguese customers and tourists.
