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Pandora was founded in 1982 by Danish goldsmith Per Enevoldsen and his then wife Winnie Enevoldsen. The pair began on a small scale by importing jewellery from Thailand and selling to consumers. After a successful wholesale venture, in 1989 Enevoldsen hired in-house designers and established a manufacturing site in Thailand, where it is still located. With low production costs and an efficient supply chain, the Enevoldsens could provide affordable, hand-finished jewellery for the mass market. Pandora's collection grew to include an assortment of rings, necklaces, earrings and watches. Pandora started selling its signature bracelets in 2000 after a patent and several years of development.
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, one of the biggest IPOs in Europe that year, giving Pandora a market capitalisation of around DKK 27 billion. 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 jewellery company in terms of sales, after Cartier and Tiffany & Co.In 2011, more than one piece of Pandora jewellery was sold every second.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, with the group reporting revenue of DKK 11.9 billion and net profit in excess of DKK 3 billion in 2014.

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