Yahoo Finance Spanish Jewelry Label PDPaola Embarks on U.S. Expansion
Spanish jewelry label PDPaola has robust plans to grow its presence in the U.S. market.
The brand, which Signet Jewelers has a minority stake in, is embarking on a U.S. growth strategy spearheaded by its newly appointed U.S. chief executive officer, Jason McNary. McNary assumed the role in May after serving as president of accessories brand Brandon Blackwood. The executive also held CEO roles at Unode50 and agnès B.
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“We have ambitious growth plans for the next three to four years for retail expansion as well as our wholesale and online,” McNary said. “We’re excited to embark upon it right now.”
PDPaola has been on a global retail growth trajectory for two years, growing to 30 stores with locations in Barcelona, Madrid, Paris, Shanghai, Beijing and other cities.
PDPaola is bringing that plan to the U.S., starting with its first store opening this fall on Bleecker Street in New York City. The brand is also close to finalizing a store location in Dallas.
The brand launched its U.S. e-commerce two years ago and the site has generated $5 million in sales, according to the executive.
“We know exactly where [our customer] is and the cities that she’s shopping from,” he said. “Those cities are Boston, New York City, Miami, Dallas, Houston, Los Angeles and Chicago — the major cities that you would probably imagine that she’s in. We believe that by building a team in the U.S., we will be able to localize our site and drive even further revenue.”
The brand is also embarking on a wholesale partnership with Nordstrom next spring. As part of Signet’s minority stake, PDPaola has also been offered at Zales stores since 2022. This partnership will continue through the brand’s growth plans.
PDPaola is looking at other wholesale partners such as Bloomingdale’s and Saks Fifth Avenue, as well as specialty online retailers Revolve and Fwrd.
“We’re trying to align ourselves with wholesale partners that can meet our consumer where we know she is,” he said. “We think that Nordstrom has the strength to help us with that and then we’ll look at others as marketplaces.”
PDPaola’s accessible price range has made it appealing to a wide range of consumers. The average price is $150, with pieces from $85 to $7,500 for fine jewelry designed with lab-grown diamonds.
“We believe that we’re in the intersection of where fashion meets jewelry, so when you think about our expansion on a partnership perspective, we don’t see ourselves in traditional jewelry environments,” said McNary.
The brand will also be naming a celebrity ambassador this fall to coincide with the New York City store opening.
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