"Danish jewelry maker Pandora will enter the Hungarian market at the end of June. The exclusive marketing rights of the company's rings, brooches, bracelets, toe and earrings, chains and charms have been acquired by Juta Kft. that plans to operate a chain of 20 stores by the end of 2010, generating HUF 700-800 million annually.Juta Kft. plans to open five stores in Budapest and three in the country in Győr, Debrecen and Szombathely this year, general manager Péter Simon told local newswire MTI on Thursday. By the end of 2010 the products of the Danish jewelry maker are to be sold in a chain of 20 stores, he added. Simon noted that only half of these will be owned by Juta, the rest are to be operated in distributorship.
Juta has an investment budget of HUF 60-70 m (on marketing, purchases and other costs) for the following one or two months, Simon said.
He believes Pandora jewelry will be popular despite the crisis, as the target group of the company is wide and the products are in a lower price range.
“Fashion remains fashion even in a crisis," he said.
Pandora was founded in Denmark in 1982 and by today it operates in 18 countries. A unique service of Pandora is that it allows customers to build and design their own jewelry."
Source: Portfolio Online Financial Journal
26.06.2009