Pandora (Copenhagen) announced a two-year turnaround plan as the company continues to look for a new CEO.
The turnaround plan is intended to reinvent the brand and includes a “strategic but also disruptive” new visual identity and communication and social engagement plan that will be implemented later this year, according to Women’s Wear Daily. Other elements of the turnaround also include expanding its digital offerings, such as "click-and-collect" and endless aisle mobile checkout functions.
The company plans to shift toward more product collectability as it moves forward in different jewelry categories. Around 75 new concept stores are slated to open, with many of them located in Latin America and China.
Anders Colding Friis stepped down as CEO in August 2018, and while the company looks for his replacement, it is being run by Chief Operating Officer Jeremy Schwartz and Chief Financial Officer Anders Boyer.