Pandora A/S (often styled PANDORA) is an international Danish jewellery manufacturer and retailer founded in 1982 by Per Enevoldsen.[1] The company started as a family-run jewellery shop in Copenhagen.

 

Pandora is known for its customizable charm bracelets, designer rings, necklaces and (now discontinued) watches. The company has a production site in Thailand and markets its products in more than 100 countries on six continents with more than 7,800 points of sale.

History

Pandora was founded in 1982[citation needed] by Danish goldsmith Per Enevoldsen and, his then wife, Winnie Enevoldsen. The pair began on a small scale by importing jewellery from Thailand and selling to consumers.[2] After a successful wholesale venture, in 1989 Enevoldsen hired in-house designers and established a manufacturing site in Thailand, where it is still located. With low production costs and an efficient supply chain, the Enevoldsens could provide affordable, hand-finished jewellery for the mass market. Pandora's collection grew to include an assortment of rings, necklaces, earrings and watches. Pandora started selling its signature bracelets in 2000 after a patent and several years of development.[3]

 

The Danish private equity group Axcel bought a 60% stake in the company from the Enevoldsen family in 2008. Shares totalling DKK 9.96 billion (US$ 1.84 billion) were sold in an IPO in October 2010, one of the biggest IPOs in Europe that year, giving Pandora a market capitalisation 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 became the world's third-largest jewellery company in terms of sales, after Cartier and Tiffany & Co.[2] In 2011, more than one piece of Pandora jewellery was sold every second on average.[5] Shares fell nearly 80% in 2011 after a shift in focus to higher-end designs alienated core customers, but performance recovered after a return to the more affordable mass market, with the group reporting revenue of DKK 11.9 billion and net profit in excess of DKK 3 billion in 2014.[6]