PANDORA was founded in 1982 in Denmark as a jewelry manufacturer and retailer and now is one of the leading and most popular jewelry fashion brands in the world. PANDORA is one of the largest jewelry brands in the world and is in more than hundred countries in six continents. The company uses a vertical business model, from internal design to global marketing and direct distribution in most markets. (8) PANDORA is a manufacturer of women's jewelry, which designs, manufactures, and sells hand – finished and modern jewelry products made of high – quality materials at affordable prices. The uniqueness of the company is bracelets, the design of which can be improved individually, choosing from an assortment of exquisite, sterling silver (it consists of 92,5% silver), 14k yellow gold or 18k gold. They mostly use recycled silver. Also, they use in production pearls, stones, and gemstones (quartz, amethyst, crystal etc.) to add sparkle and color to the jewelry. (7)…