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  "documentTitle": "Pandora | Results Presentation Deck | 43 slides",
  "authorId": "pandora",
  "authorName": "Pandora",
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  "presentationDate": "2022-05-01 00:00:00",
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  "pageNumber": 12,
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  "notes": "Includes a 'Phoenix Strategy' callout highlighting a 3x long-term opportunity despite current revenue decline.",
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      "kind": "callout",
      "text": "PHOENIX STRATEGY 3X vs 2019 – long term opportunity PANDORA REVENUE 2019 DKK 2.0 billion PANDORA REVENUE 2021 DKK 1.1 billion",
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      "text": "Performance in China continue to be unsatisfactory and negatively impacted by COVID-19 and saw -57% organic growth vs 2019. Most of the stores were kept formally open, but saw a significant decline in traffic among others due to COVID-19 restrictions, which was further fuelled by hard lockdowns in certain cities in March. In Q1 2022, Pandora has changed Management in China and a new General Manager is in place, Irving Holmes Wong. Irving Holmes Wong comes to Pandora from a position as Managing Director, Asia-Pacific & General Manager, China at Avon. He has previously held senior management positions at Bacardi-Martini, Revlon and L'Oreal. Pandora has decided to postpone investments in the repositioning of the brand until market conditions stabilise. Pandoras continue to see significant opportunities to grow in the strategically important Chinese market",
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      "text": "3X",
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      "text": "CHINA UPDATE NEGATIVELY IMPACTED BY COVID-19",
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