Pandora China cuts prices to fight grey-market trading
Pandora China will be lowering prices in a move to counteract grey-market trading.
The Danish fashion jewellery retailer says grey-market traders purchase authentic products from a producer to resell at prices lower than the market average. Pandora’s range currently sells relatively higher in China respective to other markets.
Prices are set to fall by around 15 per cent on all Pandora items this week to match the brand’s global prices.
According to Pandora’s Pacific region president Kenneth Madsen, “This price reduction across our jewellery 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 jewellery market.”
Pandora China has 170 concept stores, as well as its own presence on major e-commerce platforms. Twelve per cent of the firm’s worldwide sales were made in China in this year’s first quarter.