Pandora plans $100-mln jewelry plant in Vietnam
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Pandora, the world’s largest jewelry company by sales, will set up a US$100-million production facility in Vietnam.
To be situated in the Vietnam-Singapore Industrial Park 3 in Binh Duong Province, it will be built to LEED Gold green building standards and powered completely by renewable energy.
Construction is set to start in early 2023, and production by the end of 2024.
It will hire more than 6,000 craftspeople and have an annual capacity of 60 million pieces of jewelry.
This is the company’s third production site and the first outside Thailand.
“We scouted countries all over the world before deciding on Vietnam and Binh Duong Province,” Jeerasage Puranasamriddhi, the company’s chief supply officer, said.
Pandora is a Danish jewelry manufacturer and retailer founded in 1982 by Per Enevoldsen.
It sells its products in over 100 markets, and had revenues of $3.5 billion last year.
Questions & Answers
Q.Where will Pandora's new production facility be located?
Where will Pandora's new production facility be located?
The new facility will be situated in the Vietnam-Singapore Industrial Park 3, which is located in Binh Duong Province, Vietnam. This is Pandora’s first production site outside Thailand.
Q.When is the new jewelry plant expected to begin production?
When is the new jewelry plant expected to begin production?
Construction on the facility is scheduled to start in early 2023. Production is then expected to commence by the end of 2024, creating a significant number of new jobs.
Q.What is the expected annual production capacity of the new Vietnam plant?
What is the expected annual production capacity of the new Vietnam plant?
Once operational, the new facility is projected to have an annual capacity of 60 million pieces of jewelry. It will employ more than 6,000 craftspeople to meet this output.
Q.What specific environmental standards will the new facility meet?
What specific environmental standards will the new facility meet?
The new plant will be built to LEED Gold green building standards, demonstrating a commitment to sustainability. It will also be powered entirely by renewable energy sources.
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