Flags and pho on show as Pandora opens huge Vietnam plant

HO CHI MINH CITY, Oct 1 — Pandora, the world's largest jewellery brand, unveiled a new manufacturing center in Vietnam today, marking its first international plant outside Thailand. The US$150 million (RM613 million) factory, located outside Ho Chi Minh City, aims to produce up to 60 million pieces annually, boosting the company's capacity by 50 percent. Pandora CEO Berta de Pablos-Barbier highlighted the country's stable economy and abundant skilled artisans as key reasons for choosing Vietnam.

The facility will create 7,000 local jobs, lessening the brand's reliance on a single manufacturing location. Pandora currently operates three plants in Thailand. The company reported below-target growth and a slight decrease in net profits last year, attributable to US tariffs initially levied at 36 percent, later reduced to 19 percent, similar to Vietnam's 20 percent rate.

Pandora's revenue is one-third from the US and Canada, and the company has addressed a silver price surge in 2025 by increasing its use of platinum-plated jewelry.