Pandora A/S (often styled PANDORA) is a

Danish Danish may refer to: * Something of, from, or related to the country of Denmark People * A national or citizen of Denmark, also called a "Dane," see Demographics of Denmark * Culture of Denmark * Danish people or Danes, people with a Danish a ...

jewellery manufacturer and retailer founded in 1982 by Per Enevoldsen. The company started as a family-run jewellery shop in

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. Pandora is known for its customizable

charm bracelet A charm bracelet is a type of bracelet which carries personal jewelled ornaments or "charms", such as decorative pendants or trinkets. The decorative ''charms'' usually carry personal or sentimental attachment by the owner. History The wearing ...

s, designer rings, earrings, necklaces and (now discontinued) watches. The company has a production site in

Thailand Thailand ( ), historically known as Siam () and officially the Kingdom of Thailand, is a country in Southeast Asia, located at the centre of the Indochinese Peninsula, spanning , with a population of almost 70 million. The country is bo ...

and markets its products in more than 100 countries on six continents with more than 6,700 points of sale.

History

Pandora was founded in 1982 by Danish

goldsmith A goldsmith is a Metalworking, metalworker who specializes in working with gold and other precious metals. Nowadays they mainly specialize in jewelry-making but historically, goldsmiths have also made cutlery, silverware, platter (dishware), pl ...

Per Enevoldsen and, his then-wife, Winnie Enevoldsen. The pair began on a small scale by importing jewellery from

and selling to consumers. In 1987, the company ended its retail operations and became a pure wholesaler; two years later 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. It started selling its signature charm bracelets in 2000 after several years of development, protected by a patent. The Danish private equity group

Axcel Axcel is a leading Nordic private equity firm with offices in Stockholm and Copenhagen. Since its foundation in 1994, Axcel has made 68 platform investments and today the firm owns 19 companies across all four Nordic countries. Axcel invests in ...

bought a 60% stake in the company from the Enevoldsen family in 2008. Shares totalling were sold in an

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

in October 2010, one of the biggest IPOs in Europe that year, giving Pandora a market capitalisation of around . The company is publicly listed on the NASDAQ OMX

Copenhagen Stock Exchange The Nasdaq Copenhagen, formerly known as the Copenhagen Stock Exchange ( da, Københavns Fondsbørs), is an international marketplace for Danish securities, including shares, bonds, treasury bills and notes, and financial futures and options. ...

in Denmark and is a component of the

OMX Copenhagen 20 The OMX Copenhagen 25 (), formerly KFX and OMXC20) is the top-tier stock market index In finance, a stock index, or stock market index, is an index that measures a stock market, or a subset of the stock market, that helps investors compare cu ...

index. Pandora became the world's third-largest jewellery company in terms of sales, after

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and Tiffany & Co. In 2011, more than one piece of Pandora jewellery was sold every second on average. 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 19 billion and

net profit In business and accounting, net income (also total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales) is an entity's income minus cost of goods sold, expenses, depreciation and amortization, interest, ...

in excess of DKK 3 billion in 2014. In 2020 and due to the Covid-19 pandemic, 80% of Pandora's 2,700 stores around the world were closed. However, the company kept paying to all its staff in full, even for those who used to work in the closed stores. In early May 2021, Pandora announced the company would phase out mined diamonds in favour of gems manufactured in a laboratory. The new diamond jewellery will first be sold in the

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and North ...

before being sold globally in 2022. It is one of the world's largest jewellery brands with 19 billion Danish kroner in revenue and a retail network of around 2,700 stores.

Distribution network

Sales of the Pandora brand began in Europe and it first entered North America in 2003. The company opened concept stores around the world before its

franchising Franchising is based on a marketing concept which can be adopted by an organization as a strategy for business expansion. Where implemented, a franchisor licenses some or all of its know-how, procedures, intellectual property, use of its busine ...

model began in Australia in 2009. Pandora products are sold in more than 100 countries on six continents through approximately 6,700 points of sale, including approximately 2,400 concept stores. The company employs over 26,000 people, of whom 13,200 are located in Gemopolis, Thailand, the company's sole manufacturing site since 1989. Pandora launched an online sales platform in Europe in 2011, and began working to expand its e-commerce to the majority of its markets including Australia. Europe and the United States accounted for nearly 90% of group sales in 2014. The group announced a Chinese distribution deal in 2015, with plans to increase store numbers to "a couple of hundred" in China. In 2015, it bought out Oracle Investment's shares in its Chinese distribution service."PANDORA ENTERS INTO STRATEGIC ALLIANCE IN CHINA"
17 February 2015. Nasdaq Globe Newswire. Accessed 19 February 2016. File:PANDORAFairviewMall.JPG,

Toronto Toronto ( ; or ) is the capital city of the Canadian province of Ontario. With a recorded population of 2,794,356 in 2021, it is the most populous city in Canada and the fourth most populous city in North America. The city is the ancho ...

Fairview Mall Fairview Mall (corporately designated CF Fairview Mall) is a large shopping centre in Toronto, Ontario, Canada of about . Opened in 1970, the centre has over 180 stores, offices and a cinema complex. It is located several kilometres north-eas ...

Branch File:HK YOHO Mall Pandora 2015.jpg,

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delt ...

YOHO Mall YOHO Mall is a shopping centre in Yuen Long, New Territories, Hong Kong, near Light Rail Yuen Long stop and MTR Yuen Long station. It is part of Sun Hung Kai Properties's " Yoho" housing development. History The YOHO Midtown mall was finished ...

Branch

References

External links

* {{OMX Copenhagen 20 companies 2010 initial public offerings Bracelets Clothing companies established in 1982 Companies based in Copenhagen Companies listed on Nasdaq Copenhagen Danish brands Danish companies established in 1982 Jewellery retailers Companies based in Copenhagen Municipality