European markets close lower for second consecutive day
European markets provisionally closed 0.17% lower on Wednesday. The Stoxx 600 index pared back some earlier losses but still finished the day in negative territory for the second day in a row.
Sectors were mostly lower, with tech stocks falling 1.2% while oil and gas stocks added 1.3%.
Bourses across the region closed mixed after widely trading in the red for most of the day, with Germany’s DAX and the French CAC both dipping while the U.K.’s FTSE 100 eked out a 0.06% gain.
— Sophie Kiderlin
Pandora is pivoting away from charms focus toward being seen more as a ‘full jewelry brand’, CEO says
Pandora CEO Alexander Lacik on Wednesday told CNBC that the company has been pivoting “from just being associated with charms into being seen more as a full jewelry brand” in recent years.
This comes after “the strategy of the brand has been for many years essentially to push our charms and carrier business,” he said. The company has a “pretty big” market share in the wristwear segment, but only a small presence in other segments of the jewelry market, Lacik explained.
“I have customers coming through the door, they’ve accessorized themselves with necklaces and earrings and other jewelry segments somewhere else, but they’re in my store, they’re there to buy charms, they clearly like the brand, so the whole idea was okay let’s take a little bit of share wallet from all these other people that are selling jewelry to them,” he said.
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