Sandara, Canadia’s new retail investment with Negocia, acquires retail brands Pandora and Bering, opens 5th store in Aeon Sen Sok City
6 December, 2018. Phnom Penh, Cambodia – Sandara Industry Development Co Ltd opens its new PANDORA and BERING stores in AEON Mall Sen Sok City. The 2 new stores are from successful Danish brands. While Pandora is the world’s largest jewelry brand, Bering Timepieces is one of the most successful European brands in China.
In August 2018, Sandara has acquired the distribution franchise for Pandora and Bering, which have been present in Cambodia since early 2017, with the objective to develop more affordable luxury options for Cambodian women and men. Pandora is present in more than 100 countries with more than $3.5 billion sales per year and 27,000 employees globally. Bering is the third biggest European brand on Alibaba network. Bering is present in more than 50 countries with the fastest growth rate of any watch brand.
According to Brand Manager Mr. John Lim who joined Sandara from LVMH “The retail market in Cambodia is highly competitive, yet still offers some opportunity for brands to find their niche segment. Cambodian are famous for shopping during their travels especially in the Asian region. If we are able to improve the standard of service in the country, it will become more convenient, more practical and cheaper to shop in Cambodia for the products our clients are looking for”.
Sandara, the newly formed joint venture between Negocia Ventures and Canadia Group, aims to become a key player in the retail and distribution industry through international standards, innovation and value added creation while keeping long term commitments to contribute to the development of the Kingdom of Cambodia. The fast growing startup already counts 5 specialty stores and close to 30 employees.
Negocia Group is a regional Asean group of companies, present in Singapore, The Philippines and in Cambodia, established since 2012 by Thierry Tea, Cambodian. Negocia has several investments in Cambodia, including agriculture, retail (Sandara), digital (Wayhome, Booming Tech), real estate (CMS Property Management) and a successful helicopters and jets group (PhilJets) in Asean.
Investing into Sandara, confirms Canadia’s diversification, marking the Cambodian conglomerate’s entry into the retail and distribution landscape. To date, Canadia Group has investments in banking and finance, fintech, insurance, real estate, construction, infrastructure, shopping malls, entertainment, hospitality, education, agriculture, with over 10,000 full time employees in Cambodia.
Thierry Tea, CEO of Sandara concludes: “It is a milestone for our team to carry the Pandora brand as it is the world’s largest jewelry brand with USD 3.5 Billions in sales volume. Sandara’s objective is to provide affordable luxury products to Cambodia’s growing emerging middle class. They work hard and deserve to have access to the same quality products as you can find in more than 100 countries worldwide.”
With the objective to bring value added to the lifestyle and livelihood of the Cambodian population, Sandara develops an universe of opportunities and choices for its customers. Sandara builds strong relationships with its partners, suppliers and providers.
Sandara has started to build a portfolio of international brands including Pandora and Bering Timepieces. Since start of operations in August 2018, Sandara has opened 5 stores in the Kingdom of Cambodia.
The company now counts nearly 30 employees and aspire to become a leading retail and distribution group in Cambodia.
PANDORA designs, manufactures and markets hand-finished and contemporary jewellery made from high-quality materials at affordable prices.
PANDORA jewellery is sold in more than 100 countries on six continents through more than 7,700 points of sale, including more than 2,600 concept stores. Founded in 1982 and headquartered in Copenhagen, Denmark,
PANDORA employs more than 27,700 people worldwide of whom more than 14,000 are located in Thailand, where the Company manufactures its jewellery.
PANDORA is publicly listed on the Nasdaq Copenhagen stock exchange in Denmark. In 2017, PANDORA’s total revenue was USD 3.5 billion.
PANDORA’s latest collections are Purely PANDORA, PANDORA Reflexions and Regal Tales. These collections are a great hit in the whole of Asia. A long-time best-seller is PANDORA Rose, a beautiful alloy introduced in 2016 in Asia.
Inspired by the beauty of the Arctic, the style of the BERING watch and jewellery collection is characterised by clear, streamlined forms and pure elegance.
Today the BERING brand and unique concept is represented in 50 countries worldwide, representing more than 5,000 points of sale as of 2017. The company designs, develops, produces and distributes high-quality watches and jewellery products under the BERING brand name. All BERING products are characterised by high-quality and durable materials, like high-tech ceramic, sapphire glass and titanium, an elaborate manufacturing process and timeless, pure, Danish minimalistic design, at an unusually attractive and competitive price.
Founded in 2010, BERING fast growth has achieved international sales of more than USD 350 million between 2015 and 2017. Watch-wise, BERING sold more than 1.7 million of its elegant watches.
BERING’s iconic collections are Max René, Classic Collection, Automatic Collection. These three collections have been highly successful in the world and specifically in Asia.