With rapid development and a sustainable business strategy to hold the lead in the market and dominate market share, the Phu Nhuan Jewelry Joint Stock Company (PNJ) opened seven jewelry stores in six cities and provinces in December alone.
The openings are a record in the network development of PNJ in recent times. The simultaneous opening of the stores and the expansion of the distribution system continue to express PNJ’s strategy of focusing on its core business.
It also indicates that PNJ is fully grasping the bullish development of Vietnam’s jewelry market and cleverly taking the lead in meeting the shopping trends of customers during peak seasons such as Christmas, Tet, and Valentine’s Day, etc.
Most of the newly-opened stores are located in centers with gorgeous and modern spaces and feature all types of jewelry, such as gold, diamonds, gems, silver, and gold bars, etc. With prestige and a reputation as the leading jewelry brand in the country with high-quality, sophisticated products, PNJ has easily conquered a large number of customers in new markets.
Along with the opening of the PNJ Thanh Hoa Jewelry Center, six stores in five other cities and provinces also opened their doors, such as the PNJ Co.op Thot Not - Can Tho (December 9), PNJ Aeon Binh Duong (December 15), PNJ Vincom Long Thanh (December 20), PNJ Di An (December 24), PNJ Vincom Bac Tu Liem (December 24), and PNJ Kien Giang.
PNJ has 218 stores in nearly 50 cities and provinces around Vietnam as at the end of December, 2016. With its development pace, the company has affirmed its position as the jewelry company with the largest distribution system nationwide.
In addition to constantly expanding its distribution system, PNJ also pays special attention to human resources training, especially its sales staff, with training courses provided on improving customer service styles and operations, under the motto “I commit to serve the best” to live up to its mission of “Bringing pride to customers with sophisticated jewelry products of outstanding quality.”
The store expansions this year also made a great contribution to PNJ’s business results in the first eleven months. Total revenue was VND7.682 trillion, up 9 per cent compared to the same period of 2015. Revenue from jewelry retail alone rose by 28 per cent year-on-year. This result helped raise the company’s gross profit to VND1.247 trillion, up 24 per cent compared to 2015. Pre-tax profit was VND561 billion, a 132 per cent increase year-on-year and exceeding the 2016 plan by 22 per cent.
Not satisfied with its current results, PNJ continues to deploy many new programs for customers at Christmas, Tet 2017, and Valentine’s Day (February 14), etc. It plans to launch a series of new jewelry collections together with attractive promotional programs, such as offering thousands of practical gifts to customers, including PNJ’s high-grade calendar blocks, PNJ jewelry boxes, vouchers and discount programs of up to 30 per cent, and fashionable PNJSilver pillows from the PNJSilver jewelry and accessories brand.
PHU NHUAN JEWELRY JOINT STOCK COMPANYAddress: 170E Phan Dang Luu Street, Ward 3, Phu Nhuan District, Ho Chi Minh City Phone: (08) 3995 1703
Website: http://pnj.com.vn/en/Fanpage: facebook.com/PNJ.COM.VN/