Jewelry giant Pandora is getting in on lab-grown diamonds and hoping a new Vietnam plant helps growth in Asia
Pandora is expanding its manufacturing footprint beyond Thailand with a new $150 million Vietnam facility as the Danish jeweler eyes further growth across Asia.
TL;DR
- Pandora opened a $150 million manufacturing facility in Vietnam, its first outside Thailand.
- The new facility is expected to increase Pandora's manufacturing capacity by about 50%.
- The company anticipates further growth in Asia, with strong performance in Japan and a return to growth expected in China.
- Pandora is increasing its use of lab-grown diamonds due to consumer demand for affordability and sustainability.
- The Vietnam facility will utilize renewable energy and recycled precious metals.