Danish jewelry manufacturer Pandora

History of company, that provide retail selling of Pandora bracelets. The financial performance of the company, product range. Quantitative indicators of activity, the expansion of the retail network. The mission of the company, human resources policy.

Рубрика Менеджмент и трудовые отношения
Вид реферат
Язык английский
Дата добавления 17.04.2016
Размер файла 15,4 K

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Finance University

Under the Government of the Russian Federation

Kaluga branch



By Alexandra Lutova

the 3rd year student

of the Finance and accounting department

pandora retail financial


PANDORA is an international Danish jewelry manufacturer

To begin with I`d like to tell about history of PANDORA. 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. 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.

In 2000, PANDORA's charm bracelet concept was first launched in the Danish market. Consumers embraced the concept, and in the following years, driven by a growing and encouraging demand, the company began to expand internationally, entering new markets such as the United States in 2003 and Germany and Australia in 2004. PANDORA became the world's third-largest jewelry company in terms of sales. For example, in 2011 more than one piece of PANDORA jewellery was sold every second.

As for the company's activity it provides a universe of hand-finished and modern jewellery made from primarily genuine metals, including solid sterling silver and 14k or 18k gold, with gemstones, stones, cultured pearls, glass and wood. PANDORA uses a variety of gemstones, stones and cultured pearls to add sparkle and color to our genuine silver and gold jewelry. These originate from material categories commonly used in the jewelry industry - diamonds, gemstones, organic gems and man-made stones.

To assess the success of the company we will perform a financial review.


DKK million






Net profit



PANDORA delivered a solid performance in revenue, margins and cash flow, which all exceeded full year expectations. Strong revenue growth was seen across all major regions. The main drivers of growth were

* Group revenue in 2014 was DKK 11,942 million compared with DKK 9,010 million in 2013;

* Net profit increased by 39.5% to DKK 3,098 million in 2014 compared with a net profit of DKK 2,220 million in 2013.

Revenue growth has occurred because in 2014 PANDORA produced about 91 million pieces of jewellery and in the process PANDORA has hired more than 3,100 new employees, bringing the total to 11,400, of whom approximately 7,900 are located at facilities in Thailand. In 2015, Pandora plans to expand production by at least one new facility to cater for future demand.

I`d like to say few words about products provided by company. PANDORA's mission - then and today - is to offer women across the world a universe of high quality, hand-finished, modern and genuine jewelry products at affordable prices, thereby inspiring women to express their individuality. All women have their individual stories to tell - a personal collection of special moments that makes them who they are. That is why we celebrate these moments. That is why we say these moments are unforgettable. Here is a list of products:

1) Charms and Bracelets. PANDORA offers a selection of charms and bracelets that let women wear mementos of their unforgettable moments on their wrists. Equipped with patented `stoppers' and `keepers', the bracelets enable women to add and combine charms in any way they choose to create highly personalised pieces of jewellery. As a result, almost no two PANDORA charm bracelets are ever the same. In 2014, sales of PANDORA's Charms and Bracelets made up 78.4% of revenue. 284 new charms were added to the collection and 217 were discontinued ( See Table 2).

2) Rings. In line with our brand, most PANDORA rings can be stacked to create a personal look and are designed to complement other PANDORA jewellery. The Rings category was a key focus area in 2014. New initiatives in this category, such as a ring marketing toolkit and touch-and-feel in-store displays, proved very successful. Ring sales doubled in 2014, and Rings made up 10.0% of revenue compared with 6.1% in 2013. This has firmly established Rings as our second core product category (See Table 2).

3) Other jewellery. In addition to charms, bracelets and rings, we also design, produce and sell necklaces, pendants and earrings. These versatile collections can be combined with our other product categories to create a unique and highly personal look, or can be worn on their own. Other jewellery made up 11.6% of PANDORA's total revenue in 2014, compared with 11.2% in 2013 (See Table 2).

Table 2. Product mix

DDK million



Growth (%)

Share of revenue 2014 (%)






Silver and gold charm bracelets










Other jewellery





Total revenue





PANDORA operates and manages a vertically integrated business model from in-house design and manufacturing to global marketing and direct distribution in most markets. The products are sold in more than 70 countries on six continents through over 10,300 points of sale, including around 900 concept stores.

In 2010 PANDORA announced that the company had opened first six concept stores in Moscow and St. Petersburg in Russia, thereby commercial presence in one of Europe's largest emerging markets for fine jewellery. More than 250 stores have been opened throughout Russia since. This network covers almost all large and medium cities in Russia.

In conclusion I`d like to say that the extensive range of PANDORA jewelry is a treasury of gift ideas for all women and occasions. With charms, bracelets, rings, earrings, necklaces and pendants, she can keep expanding her PANDORA collection with everlasting moments to match her style, and the combinations are endless. PANDORA jewelry will make the perfect gift for someone you care about - it is unique and special, just like her!


1) http://www.pandora.net/en

2) http://pandoragroup.com/en/Products

3) http://investor.pandoragroup.com

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