Pandora has also released an official announcement, in addition to once again describing the characteristics of the three series, it has also proposed a promotional theme called "Diamonds for All".
This promotion breaks convention and tells people a brand new diamond story. We will shift from 'diamonds are the best friend of girls' to' diamonds are everyone's best friend ', from' diamonds on the ring finger 'to' diamonds on every finger '
Our diamonds are not provided for a few people or for a 'once in a lifetime' occasion. Diamonds represent the personal meaning that each of us can create, "said CMO Mary Carmen Gasco Buisson
It is obvious that in Pandora's strategic deployment, cultivating diamonds will break away from the inherent "wedding" and "special commemorative significance" of natural diamonds, and comprehensively shift to "pleasing oneself" and "daily wear". The customer group targeted by this positioning is basically consistent with the customer group targeted by Pandora (before introducing the cultivation of diamonds) with a "customer price of $35", and by cultivating materials such as diamonds, Pandora's customer price and revenue situation may be improved.
According to Pandora's recent 2023 second quarter and mid-term financial reports, although the sales of diamond products accounted for less than 1%, they increased by 291% (in the second quarter) and 268% (in the first half of the year) compared to the same period last year. Until today, various media outlets continue to cite Pandora's financial reports to express the view that "cultivating diamonds is of great significance for the growth of retail brands".
▲ Pandora's Interim Financial Report
Image source: Pandora's official website
We have been following the trend of Pandora's investment in cultivating diamond products since May 2021, and have experienced a series of events such as the "siege" of the brand by five major organizations, entering the US market, and increasing investment efforts. During this process, our views on Pandora have gradually shifted from their original skepticism to our current expectations. Especially after seeing 'Diamonds for All', I recalled the 'A Diamond is For Everyone' proposed in Shenzhen in June, and couldn't help but feel a sincere warmth.
Although Pandora's positioning for nurturing diamonds may not be complete (as the development of nurturing diamonds in the wedding jewelry market is exceptionally rapid), the brand's daring to challenge traditional rules and dare to shop on a large scale is indeed worthy of reference for industry insiders. Compared to various statements and controversies online, the large-scale expansion offline may have a greater impact on the retail level.
Making it visible and tangible to consumers seems to be one of the most necessary things to cultivate the diamond industry in its early stages of development.
Image source: Pandora's official website
We have been following the trend of Pandora's investment in cultivating diamond products since May 2021, and have experienced a series of events such as the "siege" of the brand by five major organizations, entering the US market, and increasing investment efforts. During this process, our views on Pandora have gradually shifted from their original skepticism to our current expectations. Especially after seeing 'Diamonds for All', I recalled the 'A Diamond is For Everyone' proposed in Shenzhen in June, and couldn't help but feel a sincere warmth.
Although Pandora's positioning for nurturing diamonds may not be complete (as the development of nurturing diamonds in the wedding jewelry market is exceptionally rapid), the brand's daring to challenge traditional rules and dare to shop on a large scale is indeed worthy of reference for industry insiders. Compared to various statements and controversies online, the large-scale expansion offline may have a greater impact on the retail level.
Making it visible and tangible to consumers seems to be one of the most necessary things to cultivate the diamond industry in its early stages of development.
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