Pandora to assume ownership of Pandora stores in North America
Danish jeweler Pandora will assume ownership of its Pandora stores in the U.S. and Canada in the coming months, following an agreement with Seattle-based franchisee Ben Bridge Jeweler on Monday.
The family-run fine watch and jewelry retailer said it intends to transfer ownership of its Pandora stores to Pandora Group, by early March. As part of the deal, Pandora will also assume ownership of the 37 Ben Bridge Jeweler store locations in the United States and Canada.
The deal hopes to give Ben Bridge a "more strategic emphasis on its core and create new opportunities for growth," according to a press release.
“The cornerstone of our business is building customers for life and that is why we first fell in love with Pandora,” said Lisa Bridge, president and CEO of Ben Bridge Jeweler.
“This has been an important and successful chapter in our history and we know our team will be in excellent hands as a part of the broader Pandora organization. This pivot will give us greater focus and enable us to innovate and grow in new ways. We are excited to fuel our Ben Bridge growth, investing in the personal experience we create through every touchpoint with our customers. We are very proud of our team and the special moments we have helped create."
Ben Bridge has been Pandora's franchisee in North America for nearly 12 years, when the company first partnered with the Danish jeweler for West Coast business growth in the Spring of 2010. Since then, the venture has evolved from a roll-out of Pandora in all Ben Bridge stores to free-standing Pandora stores in five U.S. states and British Columbia, Canada.
Looking ahead, Pandora and Ben Bridge will continue their longstanding business partnership with Pandora jewelry available in select Ben Bridge retail locations and on benbridge.com.
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