Pandora Expands Manufacturing Capacity with New Vietnam Facility, Focuses on Asia Growth
Danish jewelry company Pandora has opened a $150 million manufacturing facility in Ho Chi Minh City, marking its first production site outside Thailand. The new plant is expected to increase the company's capacity by around 50%, producing up to 60 million pieces annually and creating approximately 7,000 local jobs. Pandora sees strong growth potential in Asia, particularly in Japan where sales have nearly doubled over three years and continue growing at a high double-digit rate. After experiencing declines for three years, the company expects China to return to growth this year. CEO Berta de Pablos-Barbier emphasized that Asia remains a 'very positive region' with 10% Q2 growth. The jewelry giant is also increasing its use of lab-grown diamonds due to rising consumer demand driven by affordability and sustainability concerns. Lab-grown diamonds allow Pandora to offer more affordable products while reducing carbon emissions significantly, aligning with the preferences of environmentally conscious younger consumers.
Tickers: $PNDRY
Topics: asia expansion employment lab-grown diamonds manufacturing