Pandora opens US$150 million Vietnam plant as Singapore hub drives Asia growth
The jeweller’s first manufacturing base outside Thailand aims to raise production and resilience
[HO CHI MINH CITY] Pandora inaugurated its factory in Vietnam, north of Ho Chi Minh City, on Thursday (Oct 1), adding Vietnam to its South-east Asian network that includes its long-established manufacturing operations in Thailand and its new Asia headquarters in Singapore.
The Vietnam facility comes online as the Danish jewellery giant turns to Asia for fresh growth, with Japan remaining its key regional growth driver. The launch comes amid slowing momentum in North America and Europe, and continued weakness in China. Higher precious-metal costs, currency movements and US tariffs have also weighed on profitability in its more established markets.
Pandora chief executive Berta de Pablos-Barbier said the company had assessed 27 potential locations, and Vietnam stood out for its stable business environment and strong infrastructure; another plus was its deep pool of jewellery-making talent, which has roots in the country’s centuries-old crafting tradition.
