Danish jewelry group Pandora plans to build a $100 million jewelry crafting facility in Vietnam, a news report said last week.
This will be the company’s third manufacturing site and the first outside of Thailand, the report said. The new facility hopes to create jobs for more than 6000 craftspeople and also aims to create 60 million pieces of jewelry.
The factory will be located in the Vietnam Singapore Industrial Park 3 in Binh Duong Province, near Ho Chi Minh City. Construction is set to begin in early 2023 and production is due to start by the end of 2024.
Furthermore, The new facility will be built according to the LEED Gold standard, a green building certification, and be powered by 100 percent renewable energy.
The Danish private equity group Axcel bought a 60% stake in the company from the Enevoldsen family in 2008.