Pandora (jewelry)

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Pandora A/S
Publicly traded Aktieselskab
Traded as OMXPNDORA
Industry Jewellery Retail
Founded 1982
Founder Per Enevoldsen
Headquarters Glostrup, Copenhagen, Denmark
Key people
Revenue Increase DKK 9.010 billion (2013)
Increase DKK 2.681 billion (2013)
Profit Increase DKK 2.220 billion (2013)
Total assets Increase DKK 9.275 billion (2013)
Total equity Increase DKK 6.462 billion (2013)
Number of employees
6,910 (2013 average)
Website pandoragroup.com
Footnotes / references
Financial Reporting

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

Pandora is known for its customizable charm bracelets, designer rings, necklaces and watches. The company has a production site in Thailand and markets its products in more than 80 countries on 6 continents with approximately 10,000 points of sale.

History[edit]

Pandora was founded in 1982 by Danish gold smith Per Enevoldsen and his wife Winnie Enevoldsen. The pair began on a small scale niche by importing jewelry from Thailand and selling to consumers.[2] As demand for their products grew, the Enevoldsens turned their attention to wholesaling. After a successful wholesale venture, in 1989 Enevoldsen hired in-house designers and established a manufacturing site in Thailand, where it is still located to date. With low production cost and efficient supply chain, the Enevoldsens could provide cheap hand-finished jewelry for the mass market. Pandora's collection grew to include a wide assortment of rings, necklaces, earrings and watches.

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, making it one of the biggest IPOs in Europe that year and giving Pandora a market capitalisation of around DKK 27 billion.[3] 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 jewelry company in terms of sales, after Cartier and Tiffany & Co.[2] In 2011, more than one piece of Pandora jewellery was sold every second.[4] In 2013, Pandora oversaw a 35.4% revenue growth to DKK 9.010 billion.[5]

Distribution network[edit]

Tampa, Florida, storefront

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 model began in Australia in 2009.[4] Pandora is present in more than 80 countries and employs more than 9,000 people worldwide.[6]

Pandora launched an online sales platform in Europe in 2011,and is currently working to expand its e-commerce to the majority of its markets including Australia.[7]

References[edit]

  1. ^ http://www.jewellermagazine.com/Article.aspx?id=234
  2. ^ a b Rachlin, Natalia (6 December 2011). "A Danish Fairy Tale Gone Awry". New York Times. 
  3. ^ Arnold, Martin (5 October 2010). "Pandora shares leap on Copenhagen debut". Financial Times. 
  4. ^ a b Bitti, Mary Teresa (22 January 2014). "How Pandora Jewellery grew to become a mega global brand". Financial Post. 
  5. ^ http://files.shareholder.com/downloads/ABEA-4ZFRFB/2667354936x0x726400/d98bdcf4-7469-45a1-bb88-aeae531adbba.
  6. ^ Pandora A/S. "PANDORA A/S NOTICE OF EXTRAORDINARY GENERAL MEETING". GlobeNewswire News Room. 
  7. ^ Katarina Gustafsson (11 November 2014). "Pandora Seeks to Tap ‘Hopeless’ Male Shoppers With Web Expansion". Bloomberg. 

External links[edit]