Jewelry Brand Pandora Invests $100 Million in New Factory
The new jewelry-crafting facility in Vietnam—set to open in 2024—will allow Pandora to expand its business and meet increasing consumer demand.
A jewelry shop with Danish origins, Pandora was first founded in 1982 by Danish goldsmith Per Enevoldsen and, his then-wife, Winnie Enevoldsen. In its humble beginnings, the family business set base in Copenhagen—importing jewelry from Thailand to sell to customers and soon after, manufacturing their own pieces on a wholesale scale.
By hiring in-house designers and establishing a manufacturing site in Thailand, where it’s still located even today, Pandora was able to produce affordable, hand-finished jewelry—thanks to its low production costs and efficient supply chain. From rings to necklaces, earrings, and watches, the company became known for its signature charm bracelets in the year 2000, which they protected with a patent.
But with growing demand for its jewelry pieces around the world, Pandora knew that it needed to expand both its business and production. Thus, plans to build a new jewelry-crafting facility in Vietnam have been put into motion.
Job Opportunities and Sustainability
According to a statement from Pandora, the new site will create 6,000 jobs and have an annual capacity of 60 million pieces of jewelry. Set to open by the end of 2024, this plant is designed based on the Leadership in Energy and Environmental Design (LEED) Gold Standard—a green-building certification—and will use 100% renewable energy.
For this project, the brand will spend $100 million on the new facility—the first of its kind outside Thailand and Pandora’s third manufacturing site. Likewise, the retailer will be allocating $60 million to expand its factory in Lamphun, Thailand, over the next four years. This, according to Pandora, will increase its manufacturing capacity by around 60%.
The investment “supports the company’s long-term growth ambitions.” Plus, “diversifying the geographical locations of its plants will also help Pandora withstand potential supply-chain disruptions,” according to the brand.
“We scouted all over the world before deciding on Vietnam,” said Jeerasage Puranasmriddhi, the Chief Supply Officer for Pandora. “Vietnam has a rich craftsmanship history, and we will be able to access a large group of craftspeople. Expanding our production capacity is critical to meet expected demand.”
Last year, Pandora sold 102 million pieces of jewelry, which were fabricated in its two Thailand facilities—both of which operate on 100% renewable energy. In 2025, the company also plans on using only recycled gold and silver for all its products at those sites.