TMTPOST -- Pandora is exploring a major restructuring of its China business after years of steep sales declines, both online and in stores, according to two people familiar with the matter. The Danish jewellery giant, the world’s largest by volume of pieces sold, is in talks with China-based investment funds and e-commerce partners over a potential licensing deal that would hand over its brand and local assets—including inventory—for a five-year term, one of the people said. The move comes as multinational consumer brands continue to struggle in the world’s second-largest economy, where post-pandemic spending remains sluggish and a deepening property crisis weighs heavily on consumer confidence. In China, Pandora has also faced intensifying competition from nimble domestic brands that dominate online platforms, as well as a shift in consumer taste toward gold and higher-value jewellery, further eroding its market share in the once-promising market.