Lacik is eyeing up expansion into new countries, with details likely to be announced at a capital markets day in October. Instead, Pandora will focus on upgrading British stores or relocating to better sites. Pandora has identified 600 locations to open new stores, although these will not be in the UK - its second largest market after America, with 285 shops.
Despite that, Lacik still expects consumers to spend money on gifts for others. Rising interest rates are squeezing the disposable income of Pandora’s core customer - women between the ages of 25 and 40. Still, he says Pandora is gaining market share and pins some of the blame for the slowdown on an inevitable normalisation of the pandemic boom. Last year, that slowed to 7 per cent and Lacik believes organic growth could even turn slightly negative this year amid a slowdown in spending. Sales dropped sharply when stores were forced to close, before rebounding by 23 per cent in 2021, propelled by stimulus cheques doled out in America. Lacik was drawn to the opportunity of reinvigorating the Pandora brand, which he perceives as being part of the distinctive Danish design culture that spawned high-end hi-fi manufacturer Bang & Olufsen, and of finishing his career at a Scandinavian brand.Īny hopes Lacik may have harboured for a calmer life, though, were dashed by the pandemic. I wanted them to spend time in Sweden to know that there are alternatives.” “What I mean is, they thought the US is how a society should be. you can’t put that in the article,” he says, wincing at his choice of words. “My fear is that my children would all end up in the US. In 2017, Lacik called time on his itinerant lifestyle and moved back to Sweden.
“Alexander thinks through every angle of business decisions, he was super-good strategically and good with people.” “At Reckitt, if you could run a country well, and do a strategic job like running a category, you were marked out for future success. Lacik then crossed back over the Atlantic and moved to Ascot, Berkshire, to be close to Reckitt’s head office, where he ran the company’s home care business.Īfter Rakesh Kapoor became Reckitt’s chief executive, he appointed Lacik to run Dettol and Lysol, two of the biggest brands in Reckitt’s portfolio, and then promoted him to run Reckitt’s North American business. In 2004, Lacik joined Reckitt Benckiser, where he first worked as a general manager in Greece before being seconded to New Jersey to whip its US marketing operations into shape. In 1992, he joined US consumer goods giant Procter & Gamble, spending over 12 years in sales and marketing roles in Europe. After graduating, Lacik moved to Stockholm and embarked on a career that would see him move to America and back twice.
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