Pandora to Build $100m Factory in VietnamMay 12, 22
(IDEX Online) - Pandora today announced plans to build a $100m factory in Vietnam, as part of a plan to boost its total production capacity by 60 per cent.
It will create 6,000 jobs, producing up to 60m jewelry items a year.
The Danish jeweler, best known for its charm bracelets, aims to double revenue in the US and treble it in China (both from 2019 levels). The new factory in Vietnam will supplement current production in Thailand.
Pandora says it has signed a memorandum of understanding to build the new facility in Binh Duong Province, about 40km north of Ho Chi Minh City.
Construction should begin in early 2023 and production is due to start by the end of 2024.
Pandora, the world's largest jewelry brand, says it will be powered by 100% renewable energy and comply with LEED Gold standard green building certification.
The new factory, together with an expansion of its existing Thai facility, will increase overall production capacity by 60 per cent.
Pic shows Pandora jewelry manufacture in Thailand