Phu Nhuan Jewelry Joint Stock Company (PNJ), formerly known as Phu Nhuan Jewelry Trading Store under Phu Nhuan District People’s Committee, was established on 28 April 1988. PNJ has its business in fabrication and trade of gold, silver, germstone jewelries. The Company has been put into operation under the model of a joint stock company since 2004. PNJ manages and operates PNJ jewelry factory with a investment up of VND 120 billion and a capacity of 4 million items per year. By the end of 2017, the Company has already developed the jewelry retailing network up to 269 jewelry retail shops in 48/63 cities and provinces of Vietnam. In 2017, PNJ achieved a revenue of VND11.049 billion and a after-tax profit of VND600.8 billion. PNJ has been listed and traded on Hochiminh Stock Exchange (HOSE) since 2009.
- Fabricating and trading gold, silver, germstone jewelries;
- Trading watches and other fashionable accessories;
- Providing gemstones and diamond appraisal services;
- Trading real estate for lease;
- PNJ manages and operates PNJ jewelry factory with a investment up of VND 120 billion and a capacity of 4 million products per year.
- By the end of 2017, PNJ has already developed the jewelry retailing system up to nearly 269 shop. PNJ’s retail marketshare accounts for 25% of Vietnam market. PNJ’s products are exported to 13 foreign countries in 4 continents.
- PNJ is ranked by Plimsoll Worldat the the 16th position among 500 big jewelry manufacturers in the world.
- Focusing on Fabricating and trading jewelries in Vietnam as the core business;
- Expanding distribution network of retail shops in key markets, especially in Nothern market;
- Investing and applying advanced machineries and technologies to reduce loss rate, diversify and improve quality of products;
- Although Vietnam is one of 15 biggest gold consumers in the world, Vietnamese have a habit of buying gold bar for speculation instead of jewelry gold. There is a strong tendency to move from gold bars to jewellery gold under the context of the economic development. The consumption of jewellery gold has been increasing in recent year while the consumption of gold bar goes down. This is the potentials for the development of the Vietnam jewellery industry.
- Fluctuation of material resource price: Main PNJ products are gems such as: diamond, gold, silver, natural stones… which involve volatile price overtime in the domestic and worldwide markets. Simultaneously, shortage of labor force in this industry also brings difficulties to PNJ
- Fierce competition: Beside the rivalries of domestic companies, PNJ also has to face with high competition from foreign investors that have luxurious brand names and professional sales force
High management cost: The company has two business units located separately making operation difficult and high renting cost.