Tag: lifestyle

  • Zara campaign featuring model with freckles sparks debate in China

    Zara campaign featuring model with freckles sparks debate in China

    Spanish fashion retailer Zara appears to have inadvertently sparked off a social media furore over the appearance of freckled Chinese model Jing Wen in one of its recent ads. In China, spots on the face are generally considered blemishes and are associated with disease and old age. Freckles are somewhat rare. In a country where racial homogeneity is a touchstone for beauty, outliers – the bushy eyebrowed, the wavy haired – are unlikely to be considered attractive. In the fashion industry, however, it’s these outliers who tend to have the unique, striking looks that brands prefer for their ambassadors.

    Despite hating her freckles as a child, Guangzhou model Jing Wen eventually learned to accept and capitalise on her point of difference. As a model for such brands as Calvin Klein and H&M, her face has even been called “iconic” by China’s media. Even so, her recent work with Zara has produced an outcry among local netizens who claim the use of the model intentionally “uglifies” the Chinese people.

    A BBC report on the freckled Chinese model quoted some disgruntled users of the Weibo microblog as voicing their anger over the images. “Such pictures featuring an Asian model with freckles and an expressionless pie-shaped face mislead Westerners’ impressions about Asian women,” said one user, “and can lead to racism against Asian women.”

    A spokesperson for Zara interviewed by Pear Video website commented that the advertisements were targeted at their global market, and not specifically at China.

    “The aesthetics of the Spanish people are different,” they said, adding “our models are all photographed purely, the pictures aren’t changed, and they’re not modified.”

    Zara’s response has provoked considerable debate within China on the issue, with some claiming the model has been bullied only by her fellow Chinese, and that more should be done to help China’s people embrace beauty in diversity. Others have called into question the false patriotism of those too eager to mount an attack on foreign brands.

  • Under Armour Thailand predicts sales growth

    Under Armour Thailand predicts sales growth

    Under Armour Thailand is targeting a 20-per-cent sales increase in the kingdom, according to the brand’s exclusive Asian distributor Triple Pte Ltd. The company is focusing on footwear sales to follow up on its gains in the apparel sector in a sporting goods market expected to see 5–7 per cent growth this year. It will also offer a wider range of branded products, including sleepwear.

    “Under Armour is a relatively new brand in Thailand, and it has huge potential to spread its wings here,” said company CEO Michael Binger during a visit to Thailand last week. “We want to grow our footwear business at a faster pace than in the past and expect footwear sales to increase to 35 per cent of total sales by 2020, up from 25 per cent last year.”

    As part of this year’s expansion plans, Triple Pte is planning exploratory Under Armour Thailand outlets in the country’s north, with a shop-in-shop scheduled for the Mall Nakhon Ratchasima as well as a potential new shop in popular tourist destination Chiang Mai. It will also launch another branch in suburban Bangkok.

    “We see huge potential in the sporting goods business in Thailand,” said Binger, “and we feel confident in our capability to propel Under Armour to success here because we are an alternative brand for people looking for innovative performance shoes.”

    Thailand is Under Armour’s second fastest-growing market in Southeast Asia after Singapore.

  • PepsiCo franchise rights to be acquired in South, West India

    PepsiCo franchise rights to be acquired in South, West India

    PepsiCo India’s bottling partner Varun Beverages Monday said its board has approved plans to acquire franchise rights of the beverages and snacks major in South and West regions. The board has approved the company’s intent to enter into a binding agreement with PepsiCo India Holdings to acquire franchise rights in the two regions for a national bottling, sales and distribution footprint in seven states and five UTs, Varun Beverages Ltd (VBL) said in a regulatory filing.

    According to a report, upon completion of these acquisitions, VBL will be a franchise of PepsiCo beverages business across 27 states and seven Union Territories (UTs), it added.

    “The proposed acquisitions are in line with the company’s strategy to expand into contiguous territories and will help to acquire greater scale, operational productivity and efficiency leading to higher revenues and profitable growth,” it said.

    VBL, however, did not disclose financial details of the proposed acquisitions.

    The company further said its board will meet on February 26 to consider raising of capital through Qualified Institutions Placement (QIP).

    Last year in January, VBL had entered into a pact with PepsiCo to sell and distribute the latter’s entire Tropicana range of juices along with Gatorade and Quaker Value-Added Dairy in North and East India.

    VBL already held manufacturing, sales and distribution rights for Tropicana Slice and Tropicana Frutz in the two regions.

    PepsiCo had then stated that North and East regions together accounted for 80 percent of the juice market in India and VBL’s contiguous reach would help it more than double the distribution reach in these states.

  • Hanoi, HCMC among 20 most expensive cities in Southeast Asia

    Hanoi, HCMC among 20 most expensive cities in Southeast Asia

    A new index puts Hanoi 13th and HCMC 15th on the list of 20 most expensive Southeast Asian cities. The new Cost of Living Index for the region has been compiled by Numbeo.com, the world’s largest database of user contributed data about cities and countries worldwide. According to Numbeo, a person spends on average $447.25 a month in Hanoi exclusive of rent. For a four-person family, this figure would be $1,601. Hanoi’s cost of living ranks 316th among 440 cities in the world.

    Meanwhile, in HCMC, the average monthly expense for a single person excluding rent is $434.94, and $1,562 for a family of four. HCMC ranks 320th out of 440 cities in the world, and is 61.50 percent less expensive than New York.

    This year, Singapore, Southeast Asia’s biggest business hub, remains the most expensive city in the region. The city-state is immediately followed by Bangkok of Thailand. Yangon in Myanmar is in third place, a surprise as the city did not even make the top 30 in mid-2018.

    Many Southeast Asian capitals are featured in the list, with Phnom Penh of Cambodia ranked fifth, Jakarta of Indonesia, 11th, and Manila of the Philippines, 14th.

    Numbeo says that its survey has taken into account several factors including house rents, cost of eating out, and purchasing power needed to live a comfortable life to come with a cost of living index for 20 major cities in Southeast Asia.

  • Looking at Omnichannel presence in India: IKEA

    Looking at Omnichannel presence in India: IKEA

    Swedish home furnishings major IKEA Thursday said it plans to have an Omnichannel presence in India going forward, reiterating its long-term commitment to the country. Last year, the company opened its first store in Hyderabad, spread over 13 acres of land and has a built up area of 4 lakh sq.ft. “We are long term committed to India. We are planning to have omni-channel presence here. We will have three formats — big stores, online and smaller stores here,” Peter Betzel, CEO, IKEA India said.

    According to a report, the presence in three formats is to bring the customers closer, he added. The Hyderabad store is the first of 25 such outlets planned to be set up in India by 2025.

    The company will be opening big stores in India, starting with a store in Mumbai this year, followed by one in Bengaluru in spring-2021 and then in Delhi-NCR, Betzel said.

    However, he did not provide any timeline for the opening of the store in Delhi.

    IKEA will have its online presence in Mumbai and will also expand smaller stores category there, he added.

    When asked how the company plans to fund the expansion, Betzel said: “It will be through our own money.”

    In 2013, IKEA received nod from the government to invest Rs 10,500 crore in single-brand retail out of which it had invested Rs 4,500 crore in its different ongoing projects in India.

    IKEA has been present in India for 30 years, sourcing many different products for IKEA stores worldwide.

  • Nestle India plans up to 3-dozen product launches in 2019, eyes higher exports

    Nestle India plans up to 3-dozen product launches in 2019, eyes higher exports

    FMCG major Nestle India has lined up nearly two-three dozen products that it plans to launch in calender year 2019 across categories in the country to drive its aggressive growth plans, Chairman and Managing Director Suresh Narayanan said.

    According to a report, the company, whose 6 percent revenues come from exports, is now looking to tap more overseas markets by targeting countries with higher Indian diaspora such as SAARC and South East Asia.

    “In 2018, our core brands have performed well…We look forward for greater acceleration as we go forward….We have two-three dozen projects (products) in pipeline for launch in 2019. These products are across categories,” Narayanan said.

    Reiterating the company’s focus on the Indian market, he said, “As an organisation the one clarion call that we are working to is that we are in the business of growth to thrive and not to survive…It is not a survival mode that we look at the opportunity in India or the opportunity for growth..but a thriving mode.”

    While the domestic market has been driving its growth, Narayanan said Nestle India would now look at expanding its export basket.

    The company is looking at tapping overseas market with higher Indian diaspora such as SAARC and South East Asia to expand its exports, he added.

    Commenting on fake news on nutrition, Narayanan said it was affecting choices and lives of people.

    Therefore, Nestle India in partnership with Google, using a chatbot mechanism, will launch a personalised information dissemination website called ‘Ask Nestle’, he added.

    “Ask Nestle seeks to be a reliable and anchor platform for nutrition and lifestyle information for customers. India is the only market where this website is being launched,” he was further said.

    When asked if the company will in future also link Ask Nestle with its own e-commerce website for selling its products, he said it is a possibility.

    “…Going forward it could morph into something bigger in terms of linking up with our own e-commerce intentions, if at all it happens. But today it is only for information sharing, dissemination and helping,” he said.

    When asked if there has been any impact on sales of Maggi noodles after Supreme Court revived government’s case in the National Consumer Disputes Redressal Commission (NCDRC) against Nestle India seeking damages of Rs 640 crore for alleged unfair trade practices, false labelling and misleading advertisements, Narayanan said “No”.

    When asked if the company is looking for manufacturing capacity expansion, he said: “…This is a question that is coming up with active consultation. That exercise is on but I can not share more at this stage”.

    Typically, our approach is to augment (capacity) at our existing factories, but it does not rule out a new manufacturing facility, Narayanan said.

    Nestle India, at present, has eight factories across the country.

    The company also did not rule out evaluating inorganic growth in the country and said it may consider it if any opportunity arises.

  • AirAsia opening restaurant based on its in-flight menu

    AirAsia opening restaurant based on its in-flight menu

    Low-cost carrier AirAsia may launch restaurants serving its Santan “gourmet” in-flight menu on the ground. The proposal was revealed by AirAsia Group CEO Tony Fernandes while promoting his recent autobiography in an interview with US talk show host Larry King. “I think our food is fantastic,” said Fernandes in response to a question from the audience. “We believe in it so much we’re going to start a fast-food restaurant out of it.”

    But Fernandes gave no more details away about the plan, such as where the restaurants might be located or whether he favoured airport locations or city centres.

    News that AirAsia may launch restaurants on the ground may come as a surprise to travellers, but Fernandes has previously spun off new business concepts from the airline’s business model including a short-lived budget hotel chain where occupants paid extra for features such as air conditioning, towels and amenities, and a bus service connecting Kuala Lumpur Airport with downtown.

    AirAsia also made news recently for its new chatbot Ava (AirAsia Virtual Allstar) which, along with a new look for the firm’s website and mobile app, are designed to deliver a more seamless and user-friendly experience to customers.

    Fernandes has also indicated the airline will place increased focus on the Indonesian and Philippines markets in the near future.

  • Belgian Waffle Co expands to Southeast Asia

    Belgian Waffle Co expands to Southeast Asia

    Indian-headquartered Belgian Waffle Co has partnered with VF Franchise Consulting to expand into Southeast Asia. The chain is operated under small kiosk and cafe models, and is best known for its waffle sandwiches. “The Belgian Waffle Co has seen exponential growth in India in less than three years with unprecedented success,” said Shrey Aggarwal, cofounder of The Belgian Waffle Co.

    “Our vision is to be a Global Player in the QSR segment, being recognised for dessert offerings and our values of affordability, quality and simplicity.”

    Founded in 2015, Belgian Waffle Co now has more than 200 outlets in 55 cities in India, Nepal and Dubai.

    “We are delighted about partnering with The Belgian Waffle Co as the company seeks to expand further into Southeast Asia,” said Sean T Ngo, CEO of VF Franchise Consulting.

    “Belgian waffles have universal appeal amongst Asians and non-Asians alike. They have taken a fork-and-knife approach to eating waffles and turned the industry upside down into a fast, on-the-go food for people who enjoy delicious-tasting breakfasts, snacks and desserts and a business that offers potential fast returns.”

  • Smaller duty-free alcohol allowance and GST relief for overseas shopping

    Smaller duty-free alcohol allowance and GST relief for overseas shopping

    From midnight tonight, Singapore duty-free allowances will be cut by about a third for returning travellers. Other allowances have also been reduced. Travellers staying outside of Singapore for fewer than 48 hours will be liable for 7 per cent GST on items bought overseas worth more than SG$100 – down from the previous threshold of $150. For travellers outside the country for a period longer than 48 hours, the $600 threshold will similarly be lowered, to $500.

    The changes were announced yesterday by Finance Minister Heng Swee Keat as part of the nation’s new Budget. From April 1, the alcohol concession will also be lowered from three litres of wine or beer to two litres. The spirits cap remains at one litre.

    According to the Inland Revenue Authority of Singapore and Singapore Customs, the cuts to Singapore duty-free allowances are designed to support the city state’s existing tax intake in the face of increasing international travel.

    Returning travellers are required to declare taxable items on arrival, and have been advised to keep purchase receipts to assist in calculating any taxes due. Advance declaration and payment is available via the Customs @ SG mobile app or web portal. Failure to declare or a false declaration can incur a fine of $10,000 as well as up to a year in prison.

  • Air purifier sales shoot up as fine dust worries shoppers

    Air purifier sales shoot up as fine dust worries shoppers

    Korea’s air purifier market has tripled since 2016 thanks to worsening fine-dust pollution levels and growing health concerns. Last year, Koreans bought 1.8 million air purifiers worth around 760 billion won ($676 million), according to market researcher GfK. In 2016, Koreans only purchased 698,000 purifiers for 220 billion won. The research company noted that, unlike previous years, consumers began buying purifiers year-round from 2018.

    The demand for purifiers was highest in March and April last year, when 260,000 and 290,000 appliances were sold. Spring is traditionally the high season for purifiers when pollution from fine dust and yellow dust – dust carried from the deserts of Mongolia and China – is at its worst.

    Throughout the rest of the year excluding August to October, over 180,000 purifiers were bought every month in 2018. In the late summer months, when air quality is usually better, around 50,000 purifiers were still purchased every month. In 2016 by contrast, purifier sales only exceeded 100,000 in April. Sales were considerably lower in other months, with August seeing only 15,000 sales.

    The average purifier price has also increased as consumers are willing to pay more for products that not only do the job, but do it well.

    Various factors like operation method, filter capacity and noise levels played a big role in purifier purchasing. The appliance’s coverage was also an important concern as consumers looked for purifiers that can clean the air in all corners of the home.

    Given the growing popularity of high-end purifiers with advanced functions and technology, the average price of a purifier came to 420,000 won last year, 30 percent higher than the 310,000 won average in 2016, according to GfK.

    The strong demand for purifiers in Korea has made the domestic market very attractive to foreign makers as well. While Korean manufacturers like Samsung and LG Electronics have traditionally been the most popular, overseas brands that offer innovative designs and advanced technology are now making gains.

    Sweden’s Electrolux and Japan’s Balmuda both chose to premier their newest purifiers in Korea last week.

    Electrolux, known for its cordless and robotic vacuum cleaners, launched the “Pure A9,” marketing the product as tested and designed to suit the needs of Korean consumers. The purifier, starting from 749,000 won, has wheels and a handle for improved mobility and is capable of removing 99.98 percent of particles one-eighth the size of ultra fine dust.

    Balmuda CEO Gen Terao introduced his company’s “The Pure” air purifier himself at a press briefing in Seoul last week, calling the Korean purifier market 10 times larger than Japan’s. The Pure, priced at 749,000 won, allows users to see how much dust is being sucked in at the mouth of the product.

  • Hotels in rural Vietnam struggle to recruit staff

    Hotels in rural Vietnam struggle to recruit staff

    Vietnam’s Con Dao Islands businesses are unable to hire staff despite flourishing tourism, with people preferring to work on the mainland. Almost a week after Tet, Vietnam’s longest holiday of the year, resorts and hotels in Con Dao, a 16-island archipelago off the country’s southern coast, are looking to hire hundreds of employees for various positions including managers, waitresses and tour guides.

    The Poulo Condor Resort on the island is looking for 33 new employees for 14 positions, while the Saigon Con Dao Resort and the Six Senses Con Dao Resort are looking for seven new staff each.

    Phuong Ly, head of recruitment at Saigon Con Dao Resort, said that more resorts and hotels are being built on the island but there are few experienced staff available to work in them.

    “The local authority does provide training courses, but not many participate. Most staff are young people, so they jump between jobs very often.”

    Smaller businesses are also looking for people. A café on Pham Van Dong Street is looking for 32 staff, offering bonuses, meals, accommodation, social insurance and annual travel to the mainland.

    Thuy, owner of a local seafood restaurant, said businesses start looking for staff in March when tourists start arriving in large number.

    “But this year, many businesses are already short-staffed so we are already searching for people as the number of tourists has been rising. Last year, a tour guide could earn up to VND30 million ($1,296) a month during peak season.”

    Con Dao is 180 kilometers away from the shores of southern Ba Ria- Vung Tau Province, and accessible by air and boat.

    Industry insiders said that attracting people from mainland to Con Dao to work is a challenging task given the long distance from the shores while most people don’t want lower income jobs like serving in restaurants, driving taxis or guiding tours.

    The high cost of living on the island is another reason that people prefer to work on the mainland, they said.

    Con Dao served as prison islands for political prisoners during the French colonial era, and in later years the Saigon regime imprisoned opponents of the regime in the infamous cells known as the “tiger cages”.

    The old prison buildings are still standing and are open to the public as is a small museum tracing Con Dao’s history.

    Con Dao also boasts pristine natural beauty with forested hills, sandy beaches and extensive coral reefs.

    Last year, Con Dao welcomed over 286,000 tourists, up 17.31 percent from 2017.

  • Struggling furniture retailer Otsuka Kagu forms tie-up with Yamada Denki

    Struggling furniture retailer Otsuka Kagu forms tie-up with Yamada Denki

    Struggling Japanese furniture retailer Otsuka Kagu has entered a partnership with electronics retailer Yamada Denki. The two firms have pledged to exchange sales knowledge in their respective industries as well as explore potential corporate sales opportunities. Otsuka Kagu will also sell 13.11 million new shares at ¥290.11 in an effort to raise ¥3.8 billion (US$34.39) in fresh capital. Funds will be earmarked for warehouse automation and optimising stores for e-commerce.

    Otsuka Kagu lost ¥3.24 billion ($29.32 million) last year, its third consecutive year of net losses.

    The company attracted attention over the past decade for its high-profile leadership struggle between brand founder Katsuhisa Otsuka and his eldest daughter Kumiko Otsuka, with their competing visions for the brand’s way forward.

  • Carlsberg Malaysia declares highest ever dividend payout for FY18

    Carlsberg Malaysia declares highest ever dividend payout for FY18

    Carlsberg Brewery Malaysia Bhd has declared its highest dividend payment amounting to RM1 per share for the financial year ending Dec 31, 2018 (FY18) following a record performance for the year. Managing director Lars Lehmann said this is equivalent to a 110.3% payment of the group’s FY18 net profit, in line with its dividend policy to declare at least 75% of the group’s quarterly net profit and a special dividend in the event of surplus cash after considering future cash requirements.

    The group declared a fourth quarter (Q4) interim dividend of 16.6 sen per share. It also proposed a final interim dividend of 22.4 per share plus a special dividend of 9.3 sen amounting to 48.3 sen per share.

    Together with the interim dividends declared for the first nine months of FY18 amounting to 51.7 sen, the total dividends for FY18 amount to RM1 per share.

    Carlsberg’s Q418 net profit rose 34.9% to RM67.45 million from RM50.01 million a year ago thanks to strong sales in the Malaysian operations, higher profits from Carlsberg Singapore Pte Ltd as well as higher profit contribution from Lion Brewery (Ceylon) PLC.

    Revenue grew 22.3% to RM525.65 million compared with RM429.94 million in the previous year’s corresponding quarter.

    For FY18, the group’s net profit jumped 25.3% to RM277.15 million from RM221.17 million a year ago, while revenue grew 12.1% to RM1.98 billion from RM1.77 billion.

    Looking ahead, Carlsberg warned that rising prices for raw and packaging materials will see costs increasing 5%-10% if it is unable to mitigate such effects. Lehmann, however, stressed that the group is improving its efficiency.

    “There’s a bit of headwinds for increase in prices of raw materials like malt and packaging materials like cans that are not specific to Malaysia but globally. There’s a bad harvest in Australia for barley and the prices are going up,” he told a media and analyst briefing after announcing its FY18 financial results today.

    He added that the group will continue its focus and execution on the third year of SAIL’22 strategy in both Malaysia and Singapore, while areas of growth for FY19 are its premium brands like Connor’s, Somersby, 1664 Blanc and Asahi Super Dry.

  • 2018 sales of EV doubled in Korea

    2018 sales of EV doubled in Korea

    Hyundai Motor Executive Vice Chairman Chung Eui-sun laid out a plan to develop 44 electric vehicle models (EVs) and sell 1.67 million of the cars by 2025 during his New Year’s message held at the beginning of this year. The goal was a dramatic increase on the 38 models he planned to have by 2025 at the start of 2018. The revised goal is rooted in the fact that EVs are growing at an unprecedented pace in the global auto industry.

    According to U.S. market research firm S&P Global Platts, the number of electric cars sold worldwide exceeded 2 million in 2018 including plug-in hybrids, double the 1 million sold in 2017.

    This achievement came seven years after Tesla rolled out its Model S, opening the era of EVs, and more than two decades since Toyota released the world’s first hybrid, the Prius.

    Among the total number of EV cars sold, battery-electric vehicles sold 1.45 million units last year, followed by plug-in hybrids at 550,000 units.

    The most popular model was Tesla’s Model 3, which started mass production last year. Unlike the Model S and X, which cost over 100 million won ($88,850), the Model 3 was released as a more affordable model with a price tag around 50 to 60 million won. It sold 146,846 units, taking the top spot.

    Four Chinese companies ranked high in the top 10. The EC Series from Beijing Automotive Group ranked second. BYD’s eco-friendly plug-in hybrid, the e5, and JAC Motor’s iEV E/S were also on the list. Among Japanese cars, Nissan’s Leaf placed third while Toyota’s Prius Prime was ninth and Mitsubishi Outlander plug-in hybrid placed 10th.

    Hyundai and Kia both made it to the top 10 list of automakers for the first time. Combined, the two sold 90,860 units last year, taking the eighth spot.

    Tesla sold the most cars, at 245,240, followed by China’s BYD at 229,338. German brands, traditionally strong players in the vehicle market, had BMW at fifth and Volkswagen at ninth.

    Industry analysts project the market for electric cars will expand at an even faster speed. Deloitte, a global consulting firm, expects 4 million EVs to be sold in 2020 and 14 million in 2025. By 2030 it expects EV sales to hit 21 million.

    Considering that 98 million cars are sold worldwide annually, within 20 years one of every five cars purchased will be an EV.

    Experts say that while the United States and China have led the growth of the EV market, that is likely to change in the future.

    Deloitte forecast that cost reductions from technology development will pull down the price of EVs to be on a par with diesel cars by 2022. This means the product sector will gain price competitiveness, no longer relying on government subsidies.

    The market will also get more competitive. Toyota and Volkswagen are both planning to release new electric cars in the near future, with Volkswagen aiming to make 25 percent of the cars it produces EVs by 2025. Its investment in electric cars is already worth 20 billion euros ($2.25 billion).

    According to consulting firm AlixPartners, Volkswagen Group is planning to release 55 EV models by 2022. This accounts for half of all EV models slated for release by then.

    “Government subsidies played a big role in enabling Chinese firms to sell large numbers of EVs, but its finances have hit the limit,” said Kwon Yong-ju, a professor from Kookmin University’s department of automotive & transportation design.

    “With European companies having accumulated technology and capital while waiting for the commercialization of EVs, the future could be quite different from now.”

    “Major countries, like the United States and Europe, have tightened regulations toward environmental pollution more than before,” said Koh Tae-bong, head of research center at Hi Investment & Securities. “For car companies, it is inevitable that they will expand the amount of electric cars they make.”

  • Pandora appoints Alexander Lacik as chief executive officer

    Pandora appoints Alexander Lacik as chief executive officer

    The Board of Directors of Pandora has appointed Alexander Lacik as President and Chief Executive Officer. Mr. Lacik’s strong track-record as a consumer marketer and brand architect will help drive the execution of Programme now and assert Pandora’s position as the world’s largest jewellery brand. He will join Pandora as soon as possible.

    Alexander Lacik (54) brings international experience from growth and brand building in global consumer companies. He joins Pandora from the position as CEO of Britax Ltd., a world leader in child safety products. Prior to this, he was President of North America at RB (Reckitt Benckiser) from 2013-2017 and has held key management positions with the leading global consumer goods company since 2004. Previously, Lacik held positions in sales and marketing with Procter & Gamble from 1992 to 2004.

    At RB, Lacik contributed significantly to the company’s growth turnaround in a competitive global consumer business where brand distinction and brand equity are critical components. He successfully drove strategic brand positioning and above market growth in the group’s largest region with more than USD 3.5 billion in revenue and a full value chain. Lacik has lived and worked in five countries and managed businesses in regions across the world, covering manufacturing, product development, sales, marketing, and retail partnering.

    Peder Tuborgh, Chairman of the Board of Directors says: “I am delighted that we have secured Alexander Lacik as CEO of Pandora. Alexander is a strong match for our recently announced strategic direction and will be instrumental in executing Programme NOW. Alexander is a brilliant marketer and brand architect and has throughout his career shown himself as a great leader and a highly effective executor. His skills and experience will be key to revitalising the Pandora brand.”

    “I am honoured and excited to join Pandora. Pandora is an incredible company that has grown to be the world’s largest jewellery brand at unprecedented speed. I am encouraged by the current direction with a strong focus on brand reignition to restore growth. These are business aspects that I am particularly passionate about, and I look forward to joining and supporting the management team in the execution of Programme NOW”, says Alexander Lacik.

    Following the appointment, The Executive Management team of Pandora will consist of Alexander Lacik (CEO), Anders Boyer (CFO) and Jeremy Schwartz (COO). Until Lacik joins, the joint leadership of Anders Boyer and Jeremy Schwartz will continue unchanged.