Pandora was founded in 1982  by Danish goldsmith Per Enevoldsen and, his wife, Winnie Enevoldsen. The couple started on a small scale by importing jewelry from Thailand and selling to consumers.  After a successful wholesale business, in 1989 Enevoldsen recruited an in-house designer and set up a manufacturing site in Thailand, where he still lives. With low production costs and an efficient supply chain, Enevoldsens can provide affordable and hand-made jewelry for the mass market. Pandora’s collection grows to include a variety of rings, necklaces, earrings and watches. Pandora began selling his signature bracelet in 2000 after a patent and several years of development. 
Danish private equity group Axcel bought a 60% stake in the company from the Enevoldsen family in 2008. Shares with a total DKK of 9.96 billion (US $ 1.84 billion) were sold in an IPO in October 2010, one of the largest IPOs in Europe that year. , giving Pandora a market capitalization of around DKK 27 billion.  The company is publicly listed on the NASDAQ OMX Copenhagen Stock Exchange in Denmark and is a component of the OMX Copenhagen 20 index.
Pandora is the third largest jewelry company in the world in terms of sales, after Cartier and Tiffany & Co.  In 2011, an average of more than one Pandora jewelry sold every second.  Shares fell by almost 80% in 2011 after a shift in focus to upper-class design alienated core customers, but performance recovered after returning to a more affordable mass market, with the group reporting DKK revenue of 11.9 billion and net income exceeding DKK 3 billion in 2014. 
Pandora brand sales began in Europe and first entered North America in 2003. The company opened concept stores worldwide before the franchise model began in Australia in 2009.  Pandora products are sold in more than 100 countries on six continents through around 7,800 points of sale, including around 2,400 concept shops.  The company employs more than 22,300 people, of whom 13,200 are located in Demopolis, Thailand, the only factory location since 1989. 
Pandora launched its online sales platform in Europe in 2011 and began working to expand e-commerce to most of its markets including Australia. 
Europe and the United States accounted for nearly 90% of group sales in 2014. The group announced a China distribution agreement in 2015, with plans to increase the number of stores to “several hundred” in China.  In 2015, he bought Oracle Investment shares in his Chinese distribution service.