Denmark's Pandora opens world's largest jewellery factory in Vietnam (updated)

Pandora A/S

01/10/2026 07:39

    * Vietnam site could represent one-third of output capacity
by 2030, CEO says
    * Plant supports expansion in platinum-plated lines,
reducing reliance on volatile silver
    * Vietnam plant can make up to 60 million pieces annually

    (Adds details of the factory)
    By Minh Nguyen and Thinh Nguyen
       HO CHI MINH CITY, Oct 1 (Reuters) - Danish jewellery
maker Pandora  PNDORA.CO  opened a $150 million factory in Ho
Chi Minh City on Thursday, its largest manufacturing facility
and its first production site outside Thailand as it bids to
diversify its manufacturing footprint and bolster supply-chain
resilience.
    The Vietnam factory, Pandora's fourth worldwide, will
increase the company's overall manufacturing capacity by around
50% and is expected to employ 7,000 workers once it is fully
operational.
    The company sold 112 million pieces of jewellery in 2025 and
has until now manufactured all its products in Thailand, where
it operates three factories.
    At the opening ceremony, Pandora CEO Berta de Pablos-Barbier
joined Vietnamese officials in pulling a long pink ribbon to
unveil the first piece of jewellery produced in Vietnam.
    The plant, which Pandora described as the world's largest
fine jewellery crafting facility, will be capable of producing
up to 60 million pieces of jewellery annually.
    "To start with, Vietnam will be around 15% of our global
capacity, but when we are at full capacity by 2030, it will be a
third of our total capacity," De Pablos-Barbier told Reuters.
     "We're building this facility for the next decade, not the
next quarter... When volatility happens, we focus on operational
efficiencies and integration across the business," she said when
asked about trade-related uncertainties, including the
possibility of higher US tariffs on goods made in Vietnam.
     Pandora, the world's biggest jewellery brand by items sold,
sells silver charm bracelets from $80. The company has recently
reported weak consumer demand from the United States, its
biggest market.
    The factory was built on a 7.5-hectare (18.5-acre) site in
business and manufacturing hub Ho Chi Minh City, directly
opposite a plant run by fellow Danish company Lego. 
    It will support demand across Pandora's global business
rather than serve specific export markets.
    De Pablos-Barbier, who took charge on January 1, said
Vietnam stood out among potential locations because of its
skilled workforce, long jewellery-making tradition, strong
infrastructure and supportive business environment.
     On the factory floor, mostly Vietnamese workers in their
20s and 30s were operating grinding machines and inspecting
coloured stones before small pink robots carried them along the
production line.
    The factory will also play a key role in the company's plans
to expand its production of platinum-plated jewellery as it
diversifies beyond its traditional focus on silver and reduces
its exposure to wild swings in the silver market.
    The facility has achieved LEED Gold certification and will
operate solely on renewable electricity. All silver and gold
used at the site will be recycled, and the company is exploring
additional renewable energy options, including on-site solar
generation and a potential solar farm partnership.

    (Reporting by Thinh Nguyen, Minh Nguyen in Ho Chi Minh City
and Phuong Nguyen in Hanoi; Editing by David Stanway)
 ((Phuong.Nguyen@thomsonreuters.com; +84-24-3852-9623))