Commerce Update: Australian Jewellery Gross Sales Knowledge During Covid Reveals Shocking TendenciesCommerce Update: Australian Jewellery Gross Sales Knowledge During Covid Reveals Shocking Tendencies
At the time, 60 per cent of its shops had been in Australia and more than 80 per cent of MHI’s revenue and earnings were generated exterior of New Zealand. The over-stocking downside increased to such an extent that, in August 2019, the company took the extraordinary step of buying back jewellery from stockists for smelting. Following a six-year run of meteoric growth, the company began closing accounts in Australia and New Zealand; during 2011 alone, more than 100 stockists had their accounts closed as Pandora entered a “new enterprise phase in Australasia”.