Post by : Rohit Dhiman

Danish jewellery company Pandora has opened a major new manufacturing facility in Ho Chi Minh City, Vietnam, as the company moves to expand its production network and reduce its dependence on a single manufacturing base. The new plant represents an investment of around US$150 million and is Pandora's fourth manufacturing facility worldwide. It is also the company's first production site outside Thailand, where Pandora has operated its manufacturing operations for years. The new Vietnam jewellery factory is expected to become an important part of Pandora's long-term production strategy. The company expects the facility to employ around 7,000 people when it reaches full operational capacity.

World's Largest Jewellery Production Facility

Pandora has described the new plant as the world's largest fine jewellery crafting facility. The site has the capacity to produce as many as 60 million pieces of jewellery each year. The scale of the facility is significant for Pandora because the company sold approximately 112 million pieces of jewellery globally in 2025. Once the Vietnam operation reaches its planned capacity, it will therefore represent a substantial addition to the company's worldwide manufacturing capabilities. Pandora expects the new facility to increase its overall manufacturing capacity by approximately 50 per cent. The company has said the plant is designed with its long-term requirements in mind rather than short-term production needs.

Why Did Pandora Choose Vietnam?

Vietnam has become an increasingly important location for manufacturing and international investment, and Pandora identified several factors behind its decision to establish its new facility in Ho Chi Minh City. The company pointed to Vietnam's skilled workforce, established tradition of jewellery craftsmanship, infrastructure and business environment. The country also has a long history of jewellery production, giving Pandora access to workers with relevant skills while allowing the company to establish a new manufacturing base within an existing industrial ecosystem. The factory is located on a 7.5-hectare site in Ho Chi Minh City, one of Vietnam's major economic and manufacturing centres.

How Will the Factory Change Pandora's Production Network?

Before the Vietnam facility opened, Pandora manufactured its products entirely in Thailand, where it operates three factories. The new jewellery manufacturing centre gives the company a second country from which to produce its products. Pandora's chief executive, Berta de Pablos-Barbier, said Vietnam is expected to account for about 15 per cent of the company's global manufacturing capacity initially. When the plant reaches full capacity by 2030, the company expects Vietnam to represent approximately one-third of its total manufacturing capacity. This change will give Pandora greater geographical diversification in its production operations.

Strengthening Pandora's Supply Chain

Supply-chain resilience has become an important issue for major global manufacturers, particularly as companies deal with changing trade conditions, transportation costs and geopolitical uncertainty. Pandora's Vietnam investment is part of its effort to build a more diversified manufacturing structure. The new supply chain strategy means the company will not depend entirely on manufacturing operations concentrated in one country. Production in Vietnam is expected to support Pandora's global business rather than being dedicated to specific export markets. The company has indicated that the facility was planned as a long-term investment intended to support operations for many years.

What Will the Vietnam Factory Produce?

The facility will produce jewellery for Pandora's international business and will also support the company's plans to expand into additional jewellery categories. One area receiving particular attention is platinum-plated jewellery. Pandora has traditionally been strongly associated with silver jewellery, but the company is working to diversify its product mix. Expanding production beyond its traditional silver-focused range could help Pandora reduce its exposure to sharp fluctuations in silver prices. The company will continue to produce products for customers across its international markets from the new Vietnamese facility.

Pandora Looks Beyond Silver Jewellery

Silver has historically been an important material for Pandora's jewellery products. However, movements in silver prices can affect manufacturing costs and margins. The Vietnam facility will contribute to Pandora's plans to increase its production of platinum-plated products. This diversification reflects a broader strategy to offer different jewellery finishes and materials while creating greater flexibility in the company's manufacturing operations. For the global jewellery market, the expansion also highlights how major brands are adapting their production strategies as consumer demand, material costs and international trade conditions change.

US Tariffs and Global Trade Uncertainty

The new manufacturing facility comes at a time when international companies are closely monitoring trade policies and potential tariff changes. Pandora's CEO said the company is aware of trade-related uncertainties, including the possibility of higher US tariffs on products manufactured in Vietnam. However, the company has presented the factory as a long-term investment rather than a response to short-term changes in trade policy. Pandora said its focus during periods of market volatility would remain on improving operational efficiency and integrating different parts of its business.

Sustainability Built Into the New Facility

Sustainability is another major feature of Pandora's Vietnam operation. The facility has received LEED Gold certification, an internationally recognised building sustainability standard. Pandora also plans to operate the site using renewable electricity. The company has further stated that all silver and gold used at the facility will be recycled. Pandora is also exploring additional renewable-energy options, including the possibility of generating solar power at the site and working with partners on a potential solar farm. These measures form part of the company's wider efforts to reduce the environmental impact associated with its manufacturing operations.

What Does Pandora's Vietnam Expansion Mean for Jobs?

The new Ho Chi Minh City facility is expected to create around 7,000 jobs once it becomes fully operational. Beyond direct employment, a major manufacturing project of this scale can also contribute to activity across supporting industries, including logistics, supply services and industrial operations. For Pandora, access to skilled workers is one of the reasons Vietnam was selected as the location for the new facility. The company expects the workforce to play an important role as production gradually increases toward the plant's planned capacity.

How Important Is Vietnam to Pandora's Future?

Vietnam is expected to become a major pillar of Pandora's manufacturing strategy over the coming years. The company currently expects Vietnam to account for roughly 15 per cent of its global production capacity at the beginning. By 2030, that share is projected to rise to about one-third when the facility reaches full capacity. This would make Vietnam one of the most important manufacturing locations in Pandora's global network. The investment also represents a significant shift for a company that previously produced all of its jewellery in Thailand.

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What Is the Outlook for Pandora's Global Manufacturing?

Pandora's new factory reflects a broader effort to create a more flexible and geographically diversified production system. With the facility capable of producing up to 60 million pieces annually, the company will have additional capacity to respond to demand across international markets. The plant is also designed to support Pandora's evolving product strategy, including increased production of platinum-plated jewellery and continued use of recycled precious metals. For Pandora, the Vietnam investment is therefore about more than simply adding another factory. It represents a long-term effort to expand production, diversify manufacturing locations, improve supply-chain resilience and incorporate sustainability into a major new industrial facility.

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