Global jewellery giant Pandora has announced its plans to open its third manufacturing site, this time in Vietnam. The $100 million facility will the first of the company’s jewellery plants outside of Thailand.
Pandora announced that the move will create jobs of more than 6,000 craftspeople and have an annual capacity of 60 million pieces of jewellery.
The factory will be located in Binh Duong Province, near Ho Chi Minh City. Construction is set to begin in early 2023 and production is due to start by the end of 2024. It will be built according to the LEED Gold standard, a green building certification, and be powered by 100 per cent renewable energy.
Pandora will also expand its current site in Lamphun, Thailand, bringing the total investment to $160 million over the next four years. This will allow Pandora to grow its total crafting capacity by around 60 percent “and support the company’s long-term growth ambitions,” according to a press release.
“By diversifying its geographical footprint, Pandora will also become more resilient to potential supply disruptions,” the company stated.
In 2021, Pandora sold 102 million pieces of jewellery, hand-finished at the company’s two crafting facilities in Thailand. Both facilities operate on 100 per cent renewable energy and are on track to use only recycled silver and gold by 2025, according to the release.