Pandora Opens $150 Million Vietnam Factory

Pandora has opened a $150 million factory in Ho Chi Minh City, its first manufacturing site outside Thailand in nearly four decades, as it diversifies production and builds supply-chain resilience. The plant is expected to raise manufacturing capacity by about 50%, produce up to 60 million pieces of jewelry annually and employ roughly 7,000 people; Pandora says Vietnam could account for a third of its capacity by 2030. The expansion reflects the company’s optimism about Asian growth, including a rapidly expanding Japan business, although China has declined for three years and remains a challenge despite early signs of recovery. Pandora is also expanding its lab-grown diamond offerings, citing consumer interest in affordability and sustainability, and says the Vietnam facility will use renewable energy. The move comes as slower momentum in North America and Europe, higher precious-metal costs, currency shifts and potential U.S. tariffs weigh on the business.