Pandora has achieved an enviable position as a dominant jewelry brand. Their name is nearly synonymous with bead-style charm bracelets, priced to appeal to the mid-point buyer who wants to add something nice to their look without going into serious debt.
Now Pandora is ready to go beyond the bracelet. A new campaign, “The Art of You”, just launched last week in both American and Canadian markets. Customers are being presented with a newly expanded range of Pandora products, including rings, earrings, necklaces and pendants. Some of these products, particularly the rings, have been available through partner retailers for some time, while other looks are completely new.
There are two points about this campaign that are especially of interest to the jewelry brand. The first is the multi-channel nature of the roll out. In addition to website content, Pandora has made use of TV, print, and social media to connect with their customers. No matter which platform you encounter “The Art of You” campaign on, you’ll find the content to be consistent with that presented on other platforms: in other words, the TV ad looks & sounds like social media content, which looks like what you’ll find on the Pandora website and in print advertising.
We are also seeing Pandora move into direct online sales for the first time in the US. These sales are being made in addition to those currently available through partnership agreements with 39 top-end retailers such as Nordstrom’s and Bloomingdales. While this is a move Pandora has already made in seven other countries (all in Europe) it is at this time unknown how American retailers will feel about this new direction.
How will customers respond to the brand extension? Some industry watchers feel that Pandora’s ubiquitous bead charm bracelet has peaked as a phenomenon, and that customers are ready for more from the brand. Last year, non-bracelet sales for Pandora, particularly of stackable rings, grew at a double digit pace. Others have expressed concerns that in attempting too many different types of jewelry, Pandora will dilute the brand’s considerable appeal.
Growth is always tricky. Brands that want to be on the top have to be willing to take calculated risks, and that’s what we see Pandora doing now. How well will it work? We – and any jewelry designers or brands that hope to be the next Pandora – will be watching!