PANDORA Introduces First-Ever Financing Program for Customers
KETTERING, Ohio and BALTIMORE, MARYLAND - November, 17, 2011 -- Jewelry to commemorate life events and milestones is second only to bridal sales. Consumers now have new payment options to purchase jewelry to mark the special moments in their lives with the introduction of a consumer financing program from GE Capital's Retail Finance business and PANDORA, a leading architect of hand-finished, modern and genuine jewelry.
The multi-year agreement, backed by GE Capital, a consumer lending unit of General Electric Company (NYSE: GE), offers a range of convenient payment options through the PANDORA credit card program on the full line of PANDORA jewelry products and collections, including bracelets, charms, watches, necklaces and pendants. The special financing program is currently available for purchases at select PANDORA concept stores nationwide, and will expand to more retail locations in early 2012.
"We share PANDORA's vision in creating an unforgettable customer experience and growing their business," said Regina Leadem, vice president of Sales for GE Capital's Retail Finance business. "It's exciting to bring our experience in building consumer programs and strength in retail and customer service to help them maximize customer satisfaction."
Globally headquartered in Copenhagen, Denmark, PANDORA is the leading international jewelry company with a distinctive brand and product. Their mission is to offer high quality jewelry at affordable prices that inspire women to express their individuality with their unique products. Each individual jewelry piece reflects a special moment in their customers' lives, which PANDORA wishes to celebrate and make unforgettable.
"GE Capital has a history in client satisfaction and long-term leadership in the market," explains Bryan Bean, manager, Retail Operations and Development for PANDORA. "This working relationship will enable us to leverage their expertise to grow our brand while also providing new opportunities for our consumers to share the unforgettable moments that make life extraordinary."
For more than 75 years, GE Capital's Retail Finance business has provided billions of dollars in consumer financing through more than 200,000 small- and mid-sized businesses throughout the United States. GE Capital is a leading provider of consumer credit in the jewelry and luxury goods industry and supports its retail clients with proprietary online technology such as Business Center, which includes service, training, marketing and sales tools.
About Pandora
PANDORA designs, manufactures and markets hand-finished and modern jewelry made from genuine materials at affordable prices. PANDORA jewelry is sold in more than 55 countries on six continents through over 10,000 points of sale, including nearly 500 PANDORA branded Concept stores.
Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs over 5,000 people worldwide, of whom 3,600 are located in Gemopolis, Thailand, where the company manufactures its jewelry. PANDORA is publicly listed on the NASDAQ OMX Copenhagen stock exchange in Denmark. In 2010, PANDORA's total revenue was DKK 6.7 billion (approximately EUR 895 million). For more information, please visit www.pandoragroup.com or connect with them at facebook.com/pandorajewelry.
About GE Capital's Retail Finance business
GE Capital's Retail Finance business is among the country's most successful retail lenders, with more than 75 years of experience in consumer financing. The business, which originates loans as a unit of GE Capital Retail Bank, provides customized credit programs to retailers and consumers in the United States and Canada that help drive sales. This includes private label and bankcard credit programs to major national, regional and independent retailers in the U.S., as well as private label credit programs, promotional and installment lending, bankcards and financial services for consumers through dealers; contractors; manufacturers; healthcare practices; and service providers across nearly 20 industries. More information can be found at www.gogecapital.com and twitter.com/GoGECapital.
GE Capital is one of the world's largest providers of credit. For over one million businesses, large and small, GE Capital provides financing to purchase, lease and distribute equipment, as well as capital for real estate and corporate acquisitions, refinancings and restructurings. For our 100+ million consumer customers, GE Capital offers credit cards, sales finance programs, home car and personal loans and credit insurance. For more information, visit www.gecapital.com or follow company news via Twitter @GECapital.
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
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For more information contact:
For GE:
Cristy Williams, 678.518.2596 or [email protected]
For Pandora:
Keshia Holland, 410.309.0200 or [email protected]
Cristy Williams
[email protected]
678.518.2596