Danish jewelry brand Pandora is reportedly exploring a restructuring of its China operations due to ongoing sales declines, sources told Reuters. The company confirmed it is repositioning its brand in China, but declined to comment on specific restructuring plans. Pandora is said to be in talks with Chinese funds and e-commerce partners about potentially licensing or transferring its brand and assets for a five-year term. Since entering China in 2015, Pandora has operated through 247 directly owned stores, its official website, and Tmall. China revenue plunged nearly 80% from 1.97 billion Danish krone ($306 million) in 2019 to 416 million Danish krone ($65 million) in 2024, with its share of global sales falling from 11% to 1%.