Pandora opens world’s largest jewellery factory
Danish jewellery maker Pandora has opened a $150 million manufacturing facility in Ho Chi Minh City, Vietnam, which the company claims is the world’s largest fine jewellery factory, as it seeks to expand production capacity and reduce its environmental impact.
The factory will run entirely on renewable electricity and is expected to employ around 7,000 people when it reaches full production, according to a report by Euronews.
The facility will have the capacity to produce up to 60 million pieces of jewellery annually, increasing Pandora’s total production capacity by 50%.
It is the company’s fourth factory worldwide and its first manufacturing site outside Thailand.
Pandora Chief Executive Officer Berta de Pablos-Barbier said the new facility would expand the company’s ability to produce its full range of jewellery using different materials and manufacturing techniques.
The expansion comes as Pandora continues to grow its presence in the global jewellery market.
The company says it sold 112 million pieces of jewellery in 2025, equivalent to more than three pieces every second, and describes itself as the world’s largest jewellery brand.
Founded as a small jewellery shop in Copenhagen in 1982, Pandora began manufacturing in Thailand in 1989 before expanding into international markets.
Its charm bracelets, introduced in 2000, helped boost its popularity. The company was listed on the Copenhagen stock exchange in 2010.
Focus on sustainable production
Alongside expanding output, Pandora has sought to reduce the environmental impact of its manufacturing.
In 2024, the company completed its transition to using 100% recycled gold and silver in its jewellery production.
The new Vietnamese factory’s reliance on renewable electricity is another part of that strategy.
Selim H. Ali, a professor and head of research on critical minerals and inclusive energy transitions at the United Nations University, has noted that gold is particularly suitable for recycling because it resists oxidation and can retain its properties over time.
Jewellery market outlook
The expansion also comes amid expectations of continued growth in the global jewellery market.
According to the State of Fashion 2026 report by McKinsey and Business of Fashion, jewellery sales are projected to grow by an average of 4.1% annually between 2025 and 2028, roughly four times the projected growth rate for clothing.
However, Pandora faces risks as it expands. In a financial report published in August 2026, the company warned that US import tariffs could put pressure on its profitability.
The United States is Pandora’s largest market, where inflation and economic uncertainty have also weighed on jewellery demand.
