Pandora (jewelry)

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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 11.942 billion (2014)
Increase DKK 4.072 billion (2014)
Profit Increase DKK 3.098 billion (2014)
Total assets Increase DKK 10.556 billion (2014)
Total equity Increase DKK 7.032 billion (2014)
Number of employees
9,957 (2014 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 today. 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] 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. The group reported revenue of DKK 11.9 billion and net profit in excess of DKK 3 billion in 2014.[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]

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.[5]

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. ^ a b Barrett, Claer; Paton, Elizabeth (17 February 2015). "Pandora’s jewellery earnings charm the market". Financial Times. 
  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]