On March 20th, Danish jewelry brand Pandora signed a multi-year strategic agreement with Disneyland Paris to plan to design Disney theme jewelry inspired by Mickey, Minnie, Princess and other animated characters, and set up new retail in Disneyland Paris point. According to the agreement, Pandora will also become the official sponsor of the Paris Disneyland Illusions Show.
Currently, Disneyland Paris offers five retail outlets for Pandora, and each location offers a different experience, highlighting product features through different animated characters. In the upcoming April, this series will also open in Walt Disney Studios.
Paris Disney (Picture: paristouristoffice)
Pandora and Disneyland have long had their origins. People who have been to Shanghai Disneyland may have the impression that the M Street Galleries located on the main road of Paradise, and Pandora jewelry will be sold at various retail outlets, and the Disney theme series will always be the most prominent on the counter. Last December, when Pandora and Tmall signed a memorandum of strategic cooperation, they also took the lead with the "Disney Jewelery Series" as their main product.
This origin can be traced back to 2014 at the earliest, when Pandora and Walt Disney Company reached an agreement to design a series of Disney theme jewelry, which will be sold in Orlando Disneyland and Los Angeles Disneyland in the United States. Today, this series is Pandora's only cooperation series, so the brand attaches great importance to it. Not only will the design be updated every year, but it will also release limited funds.
Initially, Pandora sold this original collection in stores in the United States, Canada, Mexico, Puerto Rico, Central America and the Caribbean. Since November 2015, the Disney collection has been brought to 13 markets in the Asia Pacific region. Pandora has become the official bracelet sponsor of Hong Kong Disneyland and Shanghai Disneyland. In addition, Pandora sponsored the Walt Disney Theatre on Walt Disney World, a shopping and entertainment district next to Shanghai Disneyland.
As Asia's largest and sixth Disney World in the world, Pandora is also one of Shanghai Star Disney's brands, IT Store, Bape Store, New Balance, Toms, and Samsonite. As Europe's largest amusement park, Disney's consumer potential can not be underestimated. Because at Disney, not only young people and children, but also more family groups, their spending power is often higher.
In Pandora's 2018 plan, it is indeed overweight the European market. Pandora stated in his 2017 financial report that it will open 200 new stores worldwide this year, including 100 in Europe, the Middle East and Africa, and another 100 in the Americas and the Asia Pacific region, with two-thirds The new store will be operated directly by Pandora. At the same time, Pandora will continue to expand its direct-operated store network by recycling franchises.
Although Pandora is more popular among young consumers, its performance in FY 2017 has slowed down. Therefore, it is very likely that this year the store will be opened to a more diverse customer base. According to the 2017 fiscal year financial report, Pandora's sales increased by 12% year-on-year to approximately US$3.79 billion, which has slowed compared to the 21% growth rate in the previous fiscal year, and net profit decreased by 4.3% year-on-year to US$966 million. In the global market, sales in China rose the most, soaring by 82% to 262 million US dollars. The European market, such as France, Italy, Germany and the United Kingdom, is the second largest increase, at about 15%. This shows that Pandora is also very popular in the French market.
However, the profitability of Paris Disney is skeptical. According to the data from the French Tourism Administration, Disneyland Paris was only profitable for 2 years after its establishment, and the loss was once as high as 400 million U.S. dollars. After recognizing that marketing strategies may face cultural shocks, Disney Paris has specifically targeted localization strategies and increased the proportion of cartoon concepts such as Snow White and Cinderella created by French writer Perrault in the park. The working language changed from English to French, but the effectiveness was not obvious. In the face of consecutive years of losses, Pandora's retail sales effect is likely to be only a drop in the bucket.