Geena Tok has been appointed managing director of China for Pandora, the Danish charm and jewelry company announced this week.
This is the second leadership change Pandora has made to one of its major consumer markets in the last month. At the beginning of August, it named veteran retail executive Sid Keswani, CEO of a Texas grocery chain, president of its North American division.
Tok (pictured) will be responsible for the charm manufacturer’s China business and organization, which comprises more than 200 stores and employs more than 1,400 people.
She replaces Anthony Asinas, who will now become managing director for Pandora’s Hong Kong and Macau markets.
Tok previously served as managing director and chief merchant, direct to consumer, for Nike China, where she headed the brand’s Chinese retail and e-commerce stores. A 17-year veteran of the footwear company, Tok also worked for Nike in the United States, Thailand, and India.
She will report it Kenneth Madsen, president of Pandora’s Asia-Pacific region.
China has proved another challenging market for the charm company. Last month, it announced it was reducing its prices for its jewelry collection in China an average of 15 percent to combat growing gray market sales of its products.
In spite of this, since entering the Chinese market in 2010, Pandora has seen its revenues in the region grow by double or triple digits every year. In its financial results for the second quarter of fiscal 2018, it said that revenues in China had risen 29 percent, though same-store sales at its Chinese concept stores rose only 1 percent.
The announcement follows what an executive called a “turbulent” period for the company. Earlier this month, the brand reduced its financial guidance, causing its stock to drop precipitously. The ensuing outcry led Anders Colding Friis, its CEO since 2015, to step down.
At press time, no replacement had been named.
(Image courtesy of Pandora Group)
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