Pandora’s Retreat From China: The Collapse of a Middle-Class Dream

As Chinese consumers become more cautious with their spending and the middle-class dream fades, Pandora’s empty stores signal the end of a once-hopeful era.

Customers shopping at Pandora jewelry store during a grand opening in Philadelphia, Pa., on May 21, 2016. Lisa Lake/Getty Images for Pandora

Commentary

Pandora A/S, a Danish jewelry brand once a darling of the global affordable luxury market, announced in August that it would double the number of planned store closures in China from 50 to 100. This decision will reduce its store network by more than half and marks the company’s most significant retrenchment since entering the Chinese market a decade ago.