Pandora Jewelry and Hong Factory, Thailand´s Shining Force
The story of Hong Factory goes back to 1971 and involves Mr. Hong and his wife starting from scratch a company that will grow to become one of the country’s leading jewelers. The couple built an amazing empire from just an idea offering the best products at the best price. Likely, Pandora was founded by the Enevoldsen, a couple of Danish enthusiasts. Per, the husband was a goldsmith and started importing high-quality inexpensive jewelry from Thailand and reselling it in Europe. After this adventure proved successful, he decided to set up a manufacturing site in Thailand hiring highly skilled local artisans. Fast forward to 2008, Pandora became a synonym of affordable luxury being the third-largest jewelry company in the world in terms of sales.
A Dream, Hard Work and Amazing Results
These stories have much more in common than just being start-ups of dreaming couples. The story of these companies is the story of hard work but also of a great strategy applied to high-quality products. In the case of Hong Factory, they specialized in creating marcasite pieces that were affordable and staggering beautiful. The property of marcasite is that it is a highly brilliant material that is only comparable to the highest-priced of the market. It also costs just a fraction of what others cost with a very similar result. In the case of Pandora, they reduced the costs by manufacturing high-quality pieces in Thailand and selling them in Europe afterwards.
Hand-crafted Wonders at Amazing Prices
Both companies also found in Thailand the most skilled craftsmen to give life to amazing pieces at very competitive prices. This marriage of cost-effectiveness with appealing results was the recipe for success in both cases. For Mr. Hong and his wife, the dream is still alive and kicking, being them in charge of many tasks in the company still. In the case of the Enevoldsens, they sold the company in 2008 (60% of the stakes) to the Axcel Group. They tried moving to an elite market, but the public response made them go back to the larger audience with competitive prices.
Pandora Jewelry and Hong Factory, The Lesson
Marcasite jewelry is coming back to the mainstream big time respecting its same price-range. Pandora´s retail stores have the best pieces at the best prices and are the go-to option for the five continents. Buying high-quality craftsmanship jewelry made in Thailand is the perfect way to be trendy at an affordable price.