Pandora Opens US$150 Million Jewellery Facility in Vietnam

Last week, Pandora chief executive Berta de Pablos-Barbier stood alongside Vietnamese officials on the northern fringe of Ho Chi Minh City to unveil the first piece of jewellery the Danish company has ever made outside Thailand.

The group spent US$150 million on the 7.5-hectare plant in Vietnam-Singapore Industrial Park III, which it describes as the world’s largest fine jewellery crafting facility. At full capacity, the site can produce up to 60 million pieces a year.

Breaking the Thailand monopoly

The new plant shifts Pandora’s production footprint. For decades, the Copenhagen-listed company concentrated all manufacturing in Thailand. It relied on large craft facilities in Bangkok and Lamphun.

Vietnam gives the jeweller a second manufacturing base in Southeast Asia. The industrial corridor north of Ho Chi Minh City provides established logistics links, deep-water port access, and a large manufacturing workforce.

Production scale at VSIP III

Located inside Vietnam-Singapore Industrial Park III, the facility adds volume to Pandora’s global supply network. Capital expenditure of US$150 million covers precision crafting equipment, casting lines, and finishing stations.

Pandora designed the site to lift total group production as it expands its store network across Europe, the Americas, and Asia-Pacific. Full ramp-up depends on steady order volumes across core charm bracelet and fashion jewellery lines.

Supply chain concentration risk

Single-country sourcing created operational risks for Pandora during past supply chain disruptions. Building in Vietnam reduces political, regulatory, and labor exposure tied to a single operating market.

Other global fashion and accessories brands have also shifted manufacturing capacity into Vietnam. Pandora must now build local technical expertise to match craftsmanship standards honed over decades in Thai facilities.

Factory output and market demand

Adding 60 million units of annual capacity requires sustained sales growth across key consumer markets. Global retail footfall and discretionary spending remain uneven across major shopping districts.

Operations will test how fast Pandora integrates the Vietnam facility into its global fulfillment chain. Management will track initial run rates from the Ho Chi Minh City site as production scales toward the 60 million piece ceiling.