Jewelry chain Pandora ( (PANDORA) ) is choosing to expand its own digital and brick-and-mortar presence instead of joining marketplaces like Amazon ( (AMZN Get Amazon.com, Inc. Report) or Farfetch ( (FTCH Get Farfetch Limited Class A Report), the company CEO told Reuters.
Not to be confused with the online streaming platform also named Pandora, the Copenhagen-based jewelry chain is best known for the silver and gold charms that can be combined to build a bracelet.
Company CEO Alexander Lacik said that the company has no plans to join various online marketplaces in the near future and instead wants to invest on opening more stores and its own online platform.
"If you're a small and unknown brand, marketplaces offer a great opportunity, because they provide you with an audience," Lacik said at the Reuters Next conference on Wednesday. "I already have an audience."
Pandora is worth $12.3 billion and has 2,600 physical stores around the world. While it is available on China's T-mall e-commerce site, the company has stayed away from larger e-commerce retailers like Amazon.
A popular choice for significant others looking to pick out a gift, Pandora still sees its physical stores bring in 75% of its global sales.
Lacik said that getting rid of third-party vendors helps them build a more direct relationship with the without having "to make a compromise for all the clients they are serving."
"Eight out of 10 women globally are aware of our brand, so I don't need to make you aware of me," he said. "What I need to do is to show you what I've got, and I can to this much better if I have a direct relationship with my customer."
At close on Wednesday, Pandora stock was up 2.11% at 831.20 Danish crowns ($126.47).
