Pandora, the Danish jewelry maker, is breaking into the Hungarian market next week. Exclusive rights to the company’s products have been acquired by Hungarian distributor Juta, which plans to open a chain of 20 stores nationwide by the end of next year. This year, five stores are expected to open in Budapest and one each in Győr, Debrecen and Szombathely.
In an interview with Hungarian newswire MTI, Juta general manager Péter Simon said he expects to generate up to HUF 800m (€2.9m) annually.
He believes Pandora jewelry will be popular despite the crisis, as the target group of the company is wide and the products are in a lower price range.
“Fashion remains fashion even in a crisis.”