Pandora was founded in 1982 [citation needed] 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. [2] 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. [3]

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. [4] 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. [2] In 2011, an average of more than one Pandora jewelry sold every second. [5] 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. [6]

Distribution network

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. [5] 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. [7] The company employs more than 22,300 people, of whom 13,200 are located in Demopolis, Thailand, the only factory location since 1989. [8]

Pandora launched its online sales platform in Europe in 2011 and began working to expand e-commerce to most of its markets including Australia. [9]

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. [6] In 2015, he bought Oracle Investment shares in his Chinese distribution service. [10]