* Aims to open more Russian shops in 2011
* Eyes emerging markets for growth
COPENHAGEN, Dec 28 Danish jeweller Pandora
(PNDORA.CO)has opened its first six shops in Moscow and St.
Petersburg in Russia, establishing a commercial presence in one
of Europe's biggest emerging markets for jewellery, it said.
Pandora manufactures jewellery in Thailand and sells it
mainly in Europe and the United States, but it is keenly eyeing
emerging markets for growth.
"Continuing into 2011, the focus will be on opening a number
of Pandora branded concept stores in and around Moscow and St.
Petersburg," Pandora A/S said.
Later, the roll-out will be expanded to include other major
Russian cities with more than 1 million inhabitants, said
Pandora which listed on the Copenhagen stock exchange in October
in one of Europe's largest initial public offerings this year.
"Although the growth in 2011 will primarily come from
upgrading and establishing new point of sales in our existing
markets, the entrance into Russia and other major emerging
markets is a very important step in order to secure Pandora's
long-term growth," Chief Executive Mikkel Vendelin Olesen said
in the statement.
(Reporting by John Acher; Editing by Erica Billingham)