Pandora is expanding its global manufacturing capacity with a new $150 million factory in Ho Chi Minh City, Vietnam, while seeking to reduce the environmental impact of its production. The facility is expected to employ 7,000 people at full capacity and manufacture up to 60 million pieces of jewellery annually, increasing the company’s overall production capacity by 50%.
Vietnam Becomes A Key Manufacturing Hub
The new site is Pandora’s fourth factory worldwide and its first outside Thailand, marking a significant expansion of its manufacturing network. The company sold 112 million pieces of jewellery in 2025, equivalent to more than three per second.
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“This gives us flexibility to craft all our collections, our assortments in all our materials and crafting techniques,” said chief executive Berta de Pablos-Barbier. More information is available on Pandora’s website.
Expanding Production While Reducing Emissions
Pandora invested $150 million, or approximately €132 million, in the Vietnam factory, which is expected to operate entirely on renewable electricity. The company also switched to 100% recycled gold and silver in 2024 as part of its efforts to reduce the environmental footprint of its products.
De Pablos-Barbier said Pandora intends to continue growing “in a sustainable manner”. However, recycled metals still require energy-intensive refining, and the company aims to extend the use of renewable electricity beyond its own facilities to its suppliers.
Gold is particularly suited to circular production because it can be refined and reused without losing its underlying value. Saleem H. Ali, lead researcher for critical minerals and the inclusive energy transition at the United Nations University, highlighted the metal’s durability and potential for reuse, noting that gold from ancient Egyptian artefacts remains in good condition.
Jewellery Demand Grows Amid Economic Pressures
Pandora’s expansion comes as the jewellery market is forecast to grow faster than clothing sales. Unit sales are projected to increase by an average of 4.1% annually between 2025 and 2028, around four times the expected pace for clothing, according to The State of Fashion 2026, a report by McKinsey and The Business of Fashion.
Founded in Copenhagen in 1982, Pandora began manufacturing in Thailand in 1989. Its charm bracelet, launched in 2000, helped drive international growth, followed by the company’s listing on the Copenhagen stock exchange in 2010. Its corporate history is available on Pandora’s website.
Despite the market outlook, the company faces continued pressure on profitability. In its August 2026 results, Pandora warned that US import tariffs would weigh on earnings. The United States is its largest market, while inflation and broader economic uncertainty are also affecting consumer demand.
Labour Practices Remain Under Scrutiny
Pandora has also faced questions over labour practices. In 2020, Danish investigative outlet Danwatch reported that a Thai labour court had ruled in May 2019 that union activity contributed to workers’ dismissals at Pandora’s Bangkok factory. The company said the dismissals resulted from restructuring and employee performance.
As production expands in Vietnam, Pandora will face the challenge of increasing output while meeting its environmental commitments and maintaining labour standards across its manufacturing operations.







