Pandora was a family owned company started by Per & Winnie Enevoldsen in 1982 in Denmark. They manufacture affordable, fine jewelry and are currently the world’s third largest jewelry brand. Their products include jewelry (necklaces, bracelets, earrings, pendants) and watches. It wasn’t until 2003 that their business started booming. Their sales have significantly risen since then. In 2008 Axcel (an equity firm) acquired 60% of Pandora which also contributed to their growth. Currently they are one of the largest, if not the largest, manufacturers of fine jewelry. Their goal is to become a world class jewelry manufacturer in lean manufacturing & utilizing the pull system (making products based on market demand as opposed to push system - making products in large quantities). Their products can be compared to Swarovski (price up to 3,000 euros). Pandora has 5,300 employees world-wide, of which 3,600 are in Thailand. There are 4 designers based in Copenhagen and 7 in Thailand. About 6-70% of their clientele are women and over 40% are men.