A global jewellery chain is looking to add some sparkle to Dundee’s Overgate Shopping Centre.
The Courier can reveal Pandora is in talks to close its shop in Dundee High Street and move into the Overgate.
It is understood Pandora has set its sights on the ground floor unit which previously contained Paperchase.
The Paperchase shop closed earlier this year after the stationery chain fell into administration.
Pandora discussions with landlord
Pandora is currently in negotiations with its current landlord about exiting its lease. It has been in its High Street location, beside Slaters, for more than a decade.
The Danish jeweller is one of the few retailers currently increasing the number of stores it operates.
Its chief executive Alexander Lacik recently told the Financial Times, Pandora is focusing on securing better locations.
He said: “Now as times are tougher, there are lots of opportunities to get good rents, but, even more importantly, triple A locations.”
Mr Lacik has focused on getting Pandora out of long leases and sought “more flexibility and better locations” with landlords.
Pandora investing in its shop estate has already been demonstrated 65 miles north of Dundee this year, when Pandora moved into a new location in Aberdeen’s Bon Accord Centre.
It counts high street shops in Dunfermline and Perth among its 2,500 worldwide.
Jewellery firm’s Overgate interest
The jewellery chain’s interest in moving into the Overgate Shopping Centre has been confirmed by multiple sources.
However, Pandora declined to comment publicly while its discussions with its current landlord are ongoing.
Its move into the centre would fill one of the few empty spaces in the Overgate.
According to The Courier’s shopping centre tracker, the Paperchase unit and Debenhams are the only empty shops on the ground floor.
It is expected that Debenhams will eventually filled by one or several of retail magnate Mike Ashley’s brands, such as Flannels, following the centre’s acquisition by Ashley-controlled Frasers Group in March.
The former Carphone Warehouse shop, which neighbours Paperchase, was filled by beauty brand Rituals last week.
Malcolm Angus, centre manager of Overgate, said: “Overgate is currently in discussions with multiple retailers with regards to agreeing deals within the centre.
“At this time we cannot reveal specific details until leases have been completed.
“We are however committed to bringing many exciting brands and retailers to Overgate to ensure a diverse shopping environment and strengthening Overgate’s ongoing retail regeneration.”
