Pandora expands into lab-grown diamonds with new $150 million Vietnam plant

Pandora, the Danish jewelry company, is expanding into lab-grown diamonds and building a new $150 million manufacturing facility in Vietnam as part of a push for growth across Asia, according to CNBC.

The new Vietnam plant marks an expansion of Pandora's manufacturing footprint beyond Thailand, where the company has traditionally based much of its production. The move signals the company's intent to diversify its supply chain while scaling up capacity to meet demand.

By entering the lab-grown diamond market, Pandora is positioning itself within a segment of the jewelry industry that has grown rapidly in recent years, as lab-grown stones have gained popularity among consumers seeking lower-cost and often more sustainably marketed alternatives to mined diamonds.

The Vietnam investment also reflects a broader trend among manufacturers diversifying production across Southeast Asia, a region that has attracted increased foreign investment as companies look to build resilience into their supply chains.

Pandora's growth strategy in Asia will likely be watched closely by industry observers, given the company's position as one of the world's largest jewelry makers and its efforts to capture a larger share of consumer demand across new regional markets and emerging product categories like lab-grown diamonds.