Since being founded in 1982, Pandora has established itself as the third largest jewellery company in the world, boasting over €2.7 billion in revenue in 2016. It wasn’t always a huge, prestigious brand though, as the Pandora company comes from admirably humble beginnings.
Here at Terence Lett, we are the sole, certified Pandora retailer in Witney, so we thought we’d run you through the interesting history of the Pandora company.
The Early Years
As aforementioned, Pandora started from humble beginnings with a wife and husband team conceiving the brand from a jewellers based in modest, Danish surroundings. Per and Winnie Enevoldsen started off by importing jewellery from Thailand on a small scale and selling directly to consumers.
As demand increased, the Pandora company pivoted from selling directly to consumers to wholesale for various customers throughout Denmark. Soon after this, following a period of success as wholesalers, the company moved onto larger premises and stopped retailing completely.
Alongside the change of premises, Pandora shifted toward their current vertical integration with the hiring of their first in-house designed, which facilitated their move to creating unique, original jewellery.
In 1989, the company returned to Thailand with their manufacturing being placed back in the country, except with their own unique jewellery designs this time.
The turn of the century brought a myriad of developments for the Pandora company; most notably, the introduction of the (now) infamous charm bracelet being launched in 2000 after years of conceptual development.
This new product also helped to launch Pandora into the international jewellery scene, with the company breaking through into the United States market in 2003, with Germany and Australia following soon after in 2004.
With the growing demand for their products, Pandora opened a six-story manufacturing facility in Thailand in 2005, with another following soon after in the same area in 2008. Two years later, in 2010, the company introduced two more facilities in the same area of Gemopolis in Thailand. A testament to the quality of the work done in these facilities, the original is still in use today.
The Pandora company is currently renowned for being one of the most successful jewellery companies in the world, especially considering the history of their closest competitors (Tiffany & Co. and Cartier) have a history that spans one hundred years farther than the Copenhagen-based business. Atop of this, Pandora is vertically integrated, which means almost all of the design, manufacturing, marketing, and distribution is done internally: a particularly impressive feature considering they operate throughout 100 countries with over 2100 stores.
Currently sitting at 22,300 employees, 12,500 of those based in the manufacturing facilities in Thailand, Pandora is set to grow from strength to strength, all whilst maintaining the prowess of the hand-finished, contemporary jewellery they have to offer.
If you’d like to learn more about the Pandora products we offer at Terence Lett, please peruse our website or call us on 01993 779769. Alternatively, you can visit us in store and experience them for yourselves.