Pandora Starts Building $150m Vietnam Factory
May 20, 24
(IDEX Online) - Pandora, the Danish company best known for its charm bracelets, started work last week on a $150m factory in Vietnam.
The new facility, together with the expansion of its existing facilities in Thailand, will allow it to boost production by up to 60 per cent.
Pandora, the world's biggest jewelry maker, currently earns two thirds of its income from charms and bracelets, but is re-positioning itself as a "full jewelry brand" and seeking to significantly increase overall production.
The new plant, in the southern province of Binh Duong, is due to begin operations in 2026, with 7,000 employees making 60m pieces of jewelry a year when it reaches full production.
Another Danish giant, Lego, is also building a factory, in the same region of Vietnam.
This is the first time Pandora has started production outside of Thailand, where it currently has three factories.
"We are ready to start a new chapter in Vietnam. The establishment of a new manufacturing factory in Vietnam is essential to meet future needs and keep pace with our growth," said Alexander Lacik, Pandora's CEO and chairman.
Pic shows Pandora jewelry manufacture in Thailand.