Pandora, the world’s largest jewelry company by sales, will set up a US$100-million production facility in Vietnam.
To be situated in the Vietnam-Singapore Industrial Park 3 in Binh Duong Province, it will be built to LEED Gold green building standards and powered completely by renewable energy.
Construction is set to start in early 2023, and production by the end of 2024.
It will hire more than 6,000 craftspeople and have an annual capacity of 60 million pieces of jewelry.
This is the company’s third production site and the first outside Thailand.
"We scouted countries all over the world before deciding on Vietnam and Binh Duong Province," Jeerasage Puranasamriddhi, the company’s chief supply officer, said.
Pandora is a Danish jewelry manufacturer and retailer founded in 1982 by Per Enevoldsen.
It sells its products in over 100 markets, and had revenues of $3.5 billion last year.