Pandora's jewelry shop. (Photo: iStock)
Danish jewelry manufacturer Pandora is set to commence construction of its inaugural factory in Vietnam on May 16, with an estimated worth of US$150 million, according to the Danish Embassy in Hanoi.
Pandora Production Vietnam, Pandora's third production facility and its first outside of Thailand, will be constructed at the Vietnam-Singapore Industrial Park (VSIP) III in the southern Binh Duong province of Vietnam.
Upon completion, the project is anticipated to generate over 7,000 job opportunities and manufacture approximately 60 million jewelry products annually.
Chief Supply Officer at Pandora, Jeerasage Puranasamriddhi, said VSIP III possesses good infrastructure that supports the Vietnam factory’s operation in the future. Furthermore, Vietnam owns a rich history of craftsmanship that can provide the group with skilled silversmiths and artisans for the facility.
After thorough evaluation of 27 countries, the group ultimately selected Vietnam due to several factors that mitigate supply risks associated with having factories predominantly located in Thailand.
With the establishment of a new factory in Vietnam, jewelry products manufactured in Vietnam will constitute one third of Pandora's global production capacity.
The Binh Duong factory will adhere to the Leadership in Energy and Environmental Design (LEED) standard and operate entirely on renewable energy sources. Pandora currently has two production lines in Thailand that both utilize 100% renewable energy.
The group is committed to achieving net zero emissions by 2040. To meet the target, the group aims to reduce emissions of Scope 1 and Scope 2 by at least 90% from a 2019 baseline, with any remaining emissions balanced by carbon removal mechanisms and offsets.
Additionally, the group plans to decrease value chain emissions by 42% by 2030 compared to a 2019 baseline.
From LEGO Group's carbon-neutral factory to Pandora’s sustainable jewelry manufacturing, Danish companies in Vietnam exemplify a paradigm of environmentally conscious entrepreneurship.
