Arabic version: باندورا تفتتح مصنعًا في فيتنام لتوسيع الإنتاج الآسيوي

According to Cnbc, Danish jewelry company Pandora has opened a $150 million manufacturing facility in Vietnam, its first production site outside Thailand. The company is expanding capacity as it pursues further growth in Asia and diversifies production beyond its longtime Thai base.

The Ho Chi Minh City facility is expected to raise Pandora’s manufacturing capacity by about 50% and can make up to 60 million pieces of jewelry annually. It is expected to employ about 7,000 people when fully operational. Pandora CEO Berta de Pablos-Barbier said the company is building capacity for the growth it expects in the future.

Pandora said Asia grew 10% in the second quarter, with de Pablos-Barbier describing the region as “very positive.” In Japan, the company’s business has “pretty much doubled” in size over three years and continues to grow at high double-digit rates. Pandora also expects to return to growth in China this year after three years of declines.

The company is also increasing its focus on lab-grown diamonds, which it sees as a more affordable alternative to mined stones. De Pablos-Barbier cited sustainability and affordability as major consumer considerations, particularly for younger consumers, while noting that preferences vary by geography.

Lab-grown diamonds produce around 90% fewer carbon emissions than mined diamonds, according to de Pablos-Barbier. She said Pandora’s use of recycled silver and gold, along with renewable energy at the Vietnam facility, made the company’s move into lab-grown diamonds an “obvious” choice.