Pandora plans to invest $157.8 million in a manufacturing expansion, including a new factory in Vietnam.
In all, the company will increase its production capacity by about 60 percent or 80 million pieces of jewelry per year. That includes 60 million pieces to be built in Vietnam and additional capacity of about 20 million pieces to be added at existing sites in Thailand.
Pandora’s long-term goals as part of its “new chapter of growth” include doubling revenue in the U.S. and tripling revenue in China from 2019 levels, according to a press release.
“We are very pleased to confirm that Pandora is back on the growth track,” said Alexander Lacik, CEO of Pandora. “We have vast untapped opportunities in our existing core business and they will drive long-term sustainable and profitable growth. Our objective is to be the largest and most desirable brand in the affordable jewellery market. And we have a strong foundation to deliver on that objective.”
Headquartered in Copenhagen, Pandora employs 26,000 people worldwide and crafts its jewelry at two LEED-certified facilities in Thailand using mainly recycled silver and gold. The jewelry is sold in more than 100 countries through 6,700 points of sale, including more than 2,600 concept stores.
Closing With Confidence: How Bailey's Fine Jewelry Achieved Outstanding Results With Wilkerson
When Trey Bailey, President and CEO of Bailey's Fine Jewelry, decided to close the Crabtree location in Raleigh, North Carolina after 15 years, he knew the decision needed to be handled with intention and professionalism. The goal was clear: exit the location while maintaining financial strength and honoring the store's legacy.
Having worked with Wilkerson successfully in the past, Bailey understood the value of their comprehensive approach. "They understood both the emotional and financial sides of the store closing sale," Trey explains. "Their reputation for professionalism, results and care made it a very easy decision."
The results exceeded expectations. Wilkerson helped Bailey's sell through significant inventory while maintaining the dignity of the closing process. "They don't just run a sale, they help close a chapter in the best way possible," Bailey says, strongly recommending Wilkerson to any jeweler facing a similar transition.
