FinancialsMay 04, 2022
Pandora Posts Strong Q1 But Warns of US Slowdown AheadMajorsMay 16, 2022
Pandora Announces Plans to Build Third Factory, First Outside Thailand
It will be located in Vietnam’s Binh Duong Province, and construction is slated to start early next year.
Pandora and Vietnamese officials meet in Vietnam last week to sign an MOU regarding Pandora’s new factory in the Binh Duong Province. On hand for the signing were, from left, Pieter Pennings and Michael Zinck Jensen, Vietnam program leads for Pandora; Pandora Vice President of Finance Christian Krüger; Kim Højlund Christensen, Denmark’s ambassador to Vietnam; Pandora Chief Supply Officer Jeerasage Puranasamriddhi; Nguyen Van Danh, vice chairman of the Provincial People’s Committee Binh Duong; VSIP General Director Nguyen Phu Thung; Bui Minh Tri, head of Binh Duong Industrial Zones Authority, and VSIP Deputy General Director Anthony Tan.
Binh Duong, Vietnam—Pandora outlined plans last week for its new $100 million manufacturing facility in Vietnam, its third factory and first outside Thailand.
Pandora and Vietnamese officials signed a memorandum of understanding regarding the project last Thursday in Vietnam’s Binh Duong Province, located about 40 km (about 25 miles) north of Ho Chi Minh City, the country’s largest city.
The Pandora factory will be located in the province’s still-under-construction Vietnam-Singapore Industrial Park III, the latest addition to a sprawling industrial development that will work to attract tech firms as well as more “labor-intensive” industries, like apparel and footwear, the Hanoi Times reported.
Pandora’s factory will employ 6,000 craftspeople.
The company said construction is set to begin in early 2023, with the facility slated to start producing jewelry by the end of 2024.
Currently, Pandora makes its jewelry at two factories in Thailand.
The company said it sold 102 million pieces of jewelry in 2021, a year in which global sales grew by 24 percent, topping $3.5 billion.
Pandora said the addition of a third factory in Vietnam—which will have a manufacturing capacity of 60 million pieces per year—along with the planned expansion of its facility in Lamphun, Thailand, will boost its overall manufacturing capabilities by 60 percent.
Expanding manufacturing into a new country will also help to make Pandora more resilient to any future supply chain disruptions, it noted.
Related stories will be right here …
Pandora and Vietnamese officials signed a memorandum of understanding regarding the project last Thursday in Vietnam’s Binh Duong Province, located about 40 km (about 25 miles) north of Ho Chi Minh City, the country’s largest city.
The Pandora factory will be located in the province’s still-under-construction Vietnam-Singapore Industrial Park III, the latest addition to a sprawling industrial development that will work to attract tech firms as well as more “labor-intensive” industries, like apparel and footwear, the Hanoi Times reported.
Pandora’s factory will employ 6,000 craftspeople.
The company said construction is set to begin in early 2023, with the facility slated to start producing jewelry by the end of 2024.
Currently, Pandora makes its jewelry at two factories in Thailand.
The company said it sold 102 million pieces of jewelry in 2021, a year in which global sales grew by 24 percent, topping $3.5 billion.
Pandora said the addition of a third factory in Vietnam—which will have a manufacturing capacity of 60 million pieces per year—along with the planned expansion of its facility in Lamphun, Thailand, will boost its overall manufacturing capabilities by 60 percent.
Expanding manufacturing into a new country will also help to make Pandora more resilient to any future supply chain disruptions, it noted.
Pandora Chief Supply Officer Jeerasage Puranasamriddhi said the company scouted countries worldwide before settling on Vietnam. It is one of a number of Danish companies to set up manufacturing there in recent years.
“Vietnam has become an attractive destination for Danish companies, not least due to its green transformation of the economy, and we are happy to see Pandora making this important investment decision in the country,” said Denmark’s Ambassador to Vietnam, Kim Højlund Christensen.
Both of Pandora’s factories in Thailand operate using 100 percent renewable energy and are on track to use only recycled silver and gold by 2025.
The company said renewable energy will power its new manufacturing facility in Vietnam, which will be built to meet the LEED Gold standard.
Editors' Picks
Sponsored by
More on Majors
The Latest
CrimeMar 11, 2025
Man in Florida Swallows Allegedly Stolen Tiffany & Co. Jewelry The suspect allegedly stole almost $800,000 worth of diamond jewelry from a store in Orlando and then swallowed it during a traffic stop.
ColumnistsMar 11, 2025
Creative Connecting: How to Pose on the Red CarpetAhead of the Gem Awards on Friday, Jen Cullen Williams and Duvall O’Steen share pro tips for taking the best photos.
CollectionsMar 11, 2025
Marco Bicego Celebrates 25 Years With Collection, CampaignFounded in 2000, Marco Bicego is commemorating its milestone anniversary with a “25 Best” collection and campaigns honoring its heritage.
Brought to you by
Watch: GIA Field Gemology at the One-Hundredth Expedition: A Look Back and to the FutureSupplier Spotlight Sponsored by GIA
TechnologyMar 11, 2025
Hill & Co. Launches New B2B Buyer DatabaseThose attending the company’s upcoming Zoom workshop will receive early access to “The List,” its new resource for finding buyers.
Weekly QuizMar 06, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsMar 11, 2025
JSA to Honor GIA Employee at Annual LuncheonThe organization will present an award to Amy-Elise Signeavsky, law enforcement and diamond recovery manager at GIA.
CollectionsMar 10, 2025
MaeVona Co-Founder Debuts 3D-Printed ‘Tùsaire’ CollectionScottish American designer Maeve Gillies collaborated with Platinum Guild International on jewelry created by direct metal 3D printing.
Brought to you by
Natural Diamonds Should Mean MoreNatural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.
Events & AwardsMar 10, 2025
The Jewelry Symposium Announces 2025 Scholarship WinnersAhead of its trade show in May, TJS awarded free registration and accommodations to five up-and-coming jewelry industry professionals.
Events & AwardsMar 10, 2025
These Designers, Journalists, and Retailers Are Up for a Gem Award The 2025 Gem Awards are set to take place Friday at Cipriani 42nd Street in New York City.
CollectionsMar 07, 2025
Piece of the Week: Yeprem’s ‘Golden Strada’ NecklaceThe statement piece is seen in Yeprem’s new “You Play the Game” campaign, created for International Women’s Day.
MajorsMar 07, 2025
Borsheims Names New Senior Security and Facilities ManagerLongtime employee Kyle Slosson has been promoted to the role.
IndependentsMar 06, 2025
Wixon Jewelers to Close After 37 YearsFirst-generation jewelers Dan and Hope Wixon are retiring and will close their Minneapolis-area jewelry store in May.
CollectionsMar 06, 2025
Guzema, 3.1 Phillip Lim Collab on New ‘Snake’ DesignsThe limited-edition collection, a nod to the Year of the Snake, is Ukrainian brand Guzema’s first partnership with a U.S. brand.
IndependentsMar 06, 2025
Stephen Barnes Is the New Owner of IJOAfter more than 50 years, Jeff Roberts is handing over ownership of the organization to IJO President Stephen Barnes.
Events & AwardsMar 06, 2025
Borsheims’ ‘Ike-It’ Award Goes to JewelerSenior Jeweler Jay Wolff was named employee of the year.
MajorsMar 05, 2025
Neiman Marcus’ Dallas Flagship Store to Close, Confirms Saks GlobalThe 111-year-old store will close following a dispute among Saks Global, a landlord, and the City of Dallas over a small piece of land.
AuctionsMar 05, 2025
Sotheby's To Auction 51 ‘Alien’ WatchesThe upcoming “Area_51” watch sale is a collaboration with heist-out, featuring vintage and modern timepieces with futuristic designs.
MajorsMar 05, 2025
Jewelers of America Unveils 3-Year Strategic Plan The trade organization, which will mark 120 years of service next year, has a refined focus and a new mission statement.
Events & AwardsMar 05, 2025
92NY Accepting 2025 Jewelry Artist Residency ApplicationsThe application period is now open for established and emerging jewelers and metalsmiths to apply to the month-long residency program.
CrimeMar 04, 2025
4 Suspects Arrested in Fatal Armed Robbery of California Jewelry Store Uc Thí Vo, who co-owned Kim Tin Jewelry in Sacramento with her husband of 40 years, was killed during the November 2024 robbery.
CrimeMar 04, 2025
NYC Diamond Dealer Pleads Guilty to Lab-Grown Diamond SwapsManashe Sezanayev pleaded guilty to grand larceny and is expected to receive five years’ probation when he’s sentenced in May.
TrendsMar 04, 2025
Amanda’s Style File: Peaceful and Powerful AquamarineThe March birthstone pairs perfectly with hues of Mocha Mousse, Pantone’s Color of the Year for 2025.
ColumnistsMar 04, 2025
The Smart Lab: Using Online Events to Supercharge Sales Emmanuel Raheb shares strategies to prepare for, publicize, and engage the audience during events on platforms like TikTok and Zoom.
EditorsMar 03, 2025
Drop Necklaces, Archival Pieces Take Over at the 2025 OscarsFrom Doja Cat to Mikey Madison and Selena Gomez, many of this year’s Academy Awards attendees donned drop necklaces.
Policies & IssuesMar 03, 2025
Customs Indefinitely Postpones Requirement to Disclose Country of MiningOriginally slated to take effect in April, official U.S. Customs and Border Protection documents now show the implementation date as “TBD.”
SurveysMar 03, 2025
Consumer Confidence Fell in February Amid Concerns About the FutureThe recent jump in the prices of household staples, like eggs, and the potential impact of tariffs worried consumers.
