Pandora Opens World’s Largest Fine Jewellery Factory in Vietnam Amid Sustainability Push

By Roselyne Min with AP

Pandora has inaugurated what it claims to be the world’s largest fine jewellery crafting facility in Vietnam, marking a significant step in its strategy to scale production while minimizing its environmental impact.

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Located in Ho Chi Minh City, the new factory is anticipated to employ up to 7,000 workers once fully operational. With an annual output capacity of 60 million pieces, the facility boosts Pandora’s global manufacturing capabilities by 50%, as stated during its launch. This marks the company’s fourth manufacturing site worldwide and its first outside Thailand.

“This gives us flexibility to craft all our collections, our assortments in all our materials and crafting techniques,” said Pandora CEO Berta de Pablos-Barbier.

The Danish jewellery giant, which sold 112 million items in 2025—more than three pieces per second—describes itself as the world’s largest jewellery brand.

Scaling Production While Cutting Carbon Footprint

The Vietnam factory represents a $150 million investment (€132 million) and will run exclusively on renewable energy, reinforcing Pandora’s commitment to greener practices. In 2024, the company transitioned to using entirely recycled gold and silver in its production processes.

“We remain committed to growing in a sustainable manner,” said de Pablos-Barbier, emphasizing that environmental responsibility remains central to expansion plans.

Gold’s durability makes it ideal for circular economy models, according to experts. Saleem H. Ali, lead researcher for critical minerals and the inclusive energy transition at the United Nations University, noted, “Gold doesn’t oxidize. That’s why it’s so valuable and naturally suited for reuse.”

He added, “We still have gold from the ancient Egyptians in pretty good condition—an enduring testament to its longevity.”

While recycling precious metals reduces mining demand, refining still requires substantial energy input, including heating and separation processes to extract pure metals from impurities.

To address broader sustainability goals, Pandora aims to encourage its supply chain partners to adopt renewable energy sources throughout their operations.

Navigating Challenges in a Competitive Market

According to McKinsey and The Business of Fashion’s *State of Fashion 2026* report, jewellery unit sales are projected to grow at 4.1% annually through 2028—significantly faster than the fashion industry overall.

Pandora’s growth trajectory began with a single store in Copenhagen in 1982 and expanded internationally after establishing manufacturing in Thailand in 1989. Its signature charm bracelet, introduced in 2000, became a key driver of global recognition ahead of its listing on the Copenhagen Stock Exchange in 2010.

However, market dominance comes with challenges. Rising US import tariffs continue to pressure margins, especially given that North America accounts for the company’s largest customer base amid ongoing inflation and economic uncertainty.

Labor concerns have also affected reputation. A 2020 investigation by Danish watchdog Danwatch revealed that a Thai court found union-related dismissals among workers at Pandora’s Bangkok plant in 2019. The company responded that these layoffs were tied to organizational restructuring and individual performance issues.

As operations expand into Vietnam, questions linger over whether Pandora can maintain responsible labor standards and uphold ecological commitments while scaling output. Whether the brand can successfully balance profitability with sustainability and ethical oversight will likely define its future trajectory.

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