Alexander Lacik, CEO of jewelry brand Pandora (Copenhagen) will continue to pay its entire staff of 28,000 in full during the pandemic, reports the BBC.
Pandora also has no plans for permanent store closures, Lacik said, adding the company could “withstand a big drop in sales” before he would consider store closures. As the second wave of the pandemic begins in tandem with the holiday season, he estimates about 18 percent of stores will temporarily close.
Despite the near doubling of the brand’s online sales, Lacik believes physical stores will “"continue being an important part of the industry at large" because shoppers want a “seamless” experience between e-commerce and bricks-and-mortar retail. "The most successful players now, they are good at integrating all of this," he said.