Danish jewellery giant Pandora has opened a US$150 million manufacturing facility in Ho Chi Minh City, Vietnam, marking a major expansion of its global production network and its first manufacturing site outside Thailand.
The new factory, which opened on Oct. 1, is described by Pandora as the world’s largest fine jewellery crafting facility. The company expects the plant to increase its overall manufacturing capacity by around 50 per cent and create up to 7,000 jobs once fully operational.
The facility is Pandora’s fourth manufacturing site worldwide. Until now, the company had produced all of its jewellery in Thailand, where it operates three factories. The move into Vietnam is intended to diversify its production base and strengthen the company’s supply-chain resilience.
Pandora said the new facility can produce up to 60 million pieces of jewellery a year. Vietnam is expected to account for about 15 per cent of Pandora’s global production capacity initially, with that share projected to rise to around one-third by 2030 when the factory reaches full capacity.
The factory sits on a 7.5-hectare site in Ho Chi Minh City, roughly equivalent to 10 football fields. It is located in Vietnam-Singapore Industrial Park III, an established manufacturing hub that has attracted international companies.
At the opening ceremony, Pandora chief executive Berta de Pablos-Barbier joined Vietnamese officials in unveiling the first piece of jewellery produced at the facility. The opening marks the beginning of Pandora’s manufacturing operations in Vietnam after decades of production concentrated in Thailand.
Pandora said Vietnam was selected because of its skilled workforce, long jewellery-making tradition, manufacturing infrastructure and business environment. The company also plans to provide specialised training to workers through its own crafting academy, with knowledge-sharing between its teams in Thailand and Vietnam.
The expansion comes as Pandora seeks greater flexibility in its manufacturing operations. Having relied on Thailand as its sole production base for decades, the company is now adding Vietnam as a second manufacturing location as it prepares for future demand and seeks to reduce its dependence on a single country.
The factory is also expected to support Pandora’s changing product strategy. The company plans to increase production of platinum-plated jewellery as it diversifies its materials beyond its traditional reliance on silver.
This is significant as the company faces fluctuations in silver prices and changing consumer demand. Pandora has also been expanding its use of recycled precious metals as part of its sustainability strategy.
Sustainability is a major feature of the new facility. Pandora said the factory has achieved LEED Gold certification and will operate entirely on renewable electricity. All silver and gold used at the facility will be 100 per cent recycled.
The company is also exploring additional renewable-energy options, including solar power, while incorporating measures designed to improve energy and water efficiency throughout the facility.
Pandora’s move into Vietnam comes as the jewellery industry faces changing costs, trade uncertainties and shifts in consumer demand. The United States remains the company’s largest market, while the company has recently reported weaker consumer demand there.
The new facility is not intended to serve one particular export market. Instead, production in Vietnam will support Pandora’s global business and form part of its broader international supply network.
Pandora sold 112 million pieces of jewellery in 2025, highlighting the scale of production required to supply its global retail network. The company currently operates in more than 100 countries and employs around 39,000 people worldwide.
The Vietnam factory is therefore expected to play a significant role in the company’s future production plans. Once operating at full capacity, it could produce tens of millions of pieces annually while adding thousands of jobs in Vietnam.
For Vietnam, the investment also adds another major international manufacturer to its growing industrial base. Local officials have said the project will contribute to employment, economic activity and the country’s role in global manufacturing supply chains.
The opening represents a significant shift for Pandora after nearly four decades of jewellery manufacturing in Thailand. With production now beginning in Vietnam, the company is building a more diversified manufacturing network while increasing capacity to meet future global demand.
Pandora expects the Vietnamese facility to reach full capacity by 2030, when the site is projected to account for approximately one-third of the company’s total manufacturing capacity.
