Irving Holmes Wong, who previously held senior management positions at Avon, Bacardi-Martini, Revlon, and L’Oreal, will join Pandora as senior vice president and general manager of the Greater China cluster, reporting to chief commercial officer, Martino Pessina.
He will be responsible for Pandora’s business in the Greater China region, which employs more than 2,000 people and covers 250 concept stores across mainland China, Hong Kong, Taiwan and Macau.
China is the world’s largest jewelry market, and Pandora states the region has “significant growth opportunities”. As part of its Phoenix strategy, Pandora has set a long-term target to triple the Chinese business versus 2019 and laid out a two-phase plan to achieve the growth. In the first phase, Pandora will solidify the brand by establishing the core proposition of collectability, affordability and self-expression, while the second phase will focus on growing Pandora’s store network.
In 2021, Pandora generated 1.1 billion Danish Krone revenue in mainland China, accounting for approximately 5 percent of the company’s total revenue.
Commenting on the appointment, Pessina said in a statement: “Irving is a senior executive who has successfully transformed and grown businesses in China and neighbouring markets. He is a strategic brand-builder and brings valuable turnaround and growth-acceleration experience that will help us strengthen our position in Greater China and reach our Phoenix targets.”
Wong, who will join Pandora on April 7, added: “I feel passionate about reviving the brand in China and leading our coming growth chapter. Pandora’s ambition and strong commitment to the region is very motivating. I find Pandora to be a legacy brand with a clear purpose and story and look very much forward to joining.”
Source: Retail News Asia