Jewelry brand Pandora has reached an agreement to acquire its store network in Belgium and Luxembourg from Gielen Trading starting June 30, 2017, Diamond World reports. The move, finalized for €14 Million, will enable the brand to own and operate its own stores directly in these countries.
Following this agreement, 13 Pandora owned concept stores and three shop-in-shops located in the Belgium and Luxembourg will become part of the Pandora retail chain. Pandora jewelry is currently available in 25 concept stores, 29 shop-in-shops and around 100 multi-branded stores in Belgium and Luxembourg.
In 2015, the acquired Jewelry stores and the existing wholesale network in Belgium and Luxembourg generated revenue of approximately €21 million. Pandora jewelry has been available in Belgium and Luxembourg since 2004.
