Category: news
Pandora to Buy Back $75M of Jewelry
Pandora is set to repurchase DKK 500 million ($74.7 million) of unsold inventory from retailers that stock its products, the company said. The Danish jeweler believes this will reduce the quantity of goods its clients keep in stock for long periods. The company plans to smelt and recycle the old jewelry to make new collections, … Read more
Trade Fears Weigh on Hong Kong Retail
Retail sales of jewelry and other luxury items fell sharply in Hong Kong in June amid increasingly cautious consumer sentiment and a slowdown in tourism. Revenue from jewelry, watches, clocks and other valuable gifts dropped 17% year on year to HKD 5.75 billion ($734.4 million), the municipality’s Census and Statistics Department reported last week. Sales … Read more