Charm bracelets in gold, silver, wood and glass, intricately cast and designed with gemstones or semiprecious stones transformed a modest family-run store into global brand, pandora.
In 1982, goldsmith Per Enevoldsen and wife Winnie opened a family-run jewellery shop in Copenhagen. The couple travelled to Thailand often to import and sell jewellery. As the demand for their jewellery grew, their focus shifted towards wholesale. In 1987, the company moved to larger premises and two years later, hired in-house designers and established a manufacturing site in Thailand. With most production cost and efficient supply chain, the couple sold inexpensive hand-finished rings, necklaces, earrings, watches and charm bracelets in gold, silver, wood, platinum and Morano glass, intricately cast and designed with gemstones or semiprecious stones. The charm bracelets were a hit and transformed the modest family-run store into global brand, Pandora.
Fine jewelers who couldn’t sell diamonds found a lifeline in Pandora and in turn the company benefited. In no time, it began selling worldwide and became the third largest jewellery firm in the US with analysts referring to it as the “middle-class Tiffany.” The company opened a large scale crafting facility in Gemopolis, skirting Bangkok, and more recently, a crafting facility in Northern Thailand and Triple A facility in Gemopolis. In 2008, Danish private equity firm Axcel acquired sixty per cent of the brand and in 2010, Pandora was listed on NASDAQ OMX Copenhagen Stock Exchange. However, it couldn’t sustain the growth and revenues began declining. Analysts chalked it to the ambitious private equity firm pushing it too far to make profits on the stock market.
Pandora’s vision was one of quality jewellery and bulk wholesale, with affordable pricing.
Pandora tapped into consumers’ desire for specialised jewellery. It designs, manufactures and markets hand-finished contemporary jewellery made from quality materials, at affordable prices.