PNJ has been listed in the inaugural Fortune Southeast Asia 500.
Fortune Magazine on June 18th announced that PNJ has been listed in the inaugural Fortune Southeast Asia 500. This annual list ranks the region’s 500 largest companies based on key metrics such as revenue and net profit for the previous fiscal year.
Stellar Financial Performance
PNJ’s inclusion in this list highlights its impressive revenue and profit growth. The company reported a net revenue of VND 33,137 billion and an after-tax profit of VND 1,971 billion in 2023, marking its highest profit to date and surpassing the 2022 record by 9%. This growth is a testament to PNJ’s robust business strategy and economic contributions.
PNJ has significantly expanded its market presence across Vietnam, now boasting over 400 stores in 55 out of 63 provinces. The company’s brand value has also seen a substantial increase, estimated at USD 428.43 million, up 17% from 2022 and 44% from 2020, according to Brand Finance.
From 2018 to 2023, PNJ made notable strategic advancements, achieving a total after-tax profit of VND 8,033 billion. During this period, the company’s market capitalization more than doubled, increasing by approximately VND 17,000 billion. These accomplishments underscore PNJ’s resilience and capacity for growth despite challenging economic conditions.
Strategic Advancements
Le Tri Thong, CEO of PNJ, emphasized the company’s proactive approach: “Instead of defending, we chose to attack and strive through difficulties. PNJ continuously innovates to overcome challenges, bringing value to our employees, stakeholders, and the community.”
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| “We chose to attack and strive through difficulties,” Le Tri Thong, CEO of PNJ said. |
Khoon-Fong Ang, Fortune’s Chief of Operations in Asia, noted, “We are thrilled to introduce the Southeast Asia 500 to our international readers, spotlighting the impressive growth of Southeast Asia and its largest companies.” This new list reflects the dynamic and rapidly changing markets of Southeast Asia, where economies are growing significantly faster than those in Europe or the US.
Commitment to Green Finance
Looking ahead, PNJ is committed to promoting green finance as part of its sustainable development strategy. The company focuses on developing green financial products, institutions, and markets, aligning with its vision for a greener economy.
PNJ has also redefined retail through technological innovation. By integrating artificial intelligence (AI) and Big Data into its operations, PNJ has enhanced customer relationship management (CRM) and optimized business processes. The use of AI-powered cameras in stores and cloud computing strategies has increased sales efficiency by nearly 200% and built a strong foundation of trust among employees and customers alike.
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| PNJ provides satisfaction at every “touchpoint” in the consumer shopping journey. |
PNJ’s digital transformation has positioned it as a leading jewelry retailer in Asia, with over 7,000 employees dedicated to delivering excellence at every customer touchpoint.
PNJ, or Phu Nhuan Jewelry, is a leading jewelry retailer in Southeast Asia, known for its innovative approaches and commitment to sustainability. The company continues to set benchmarks in the industry through strategic growth and technological advancements.
In just three decades, PNJ has achieved extraordinary growth, transforming itself from a gold and gemstone production business into Asia’s leading jewelry retailer. Since 2012, this transformation has been particularly remarkable, driven by a workforce of over 7,000 dedicated employees.
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| PNJ’s journey is a testament to its innovative spirit. |
PNJ has redefined the retail experience by focusing on the relationship between the business and its customers, striving to provide satisfaction at every “touchpoint” in the consumer shopping journey. This customer-centric approach has set new standards in the industry. To enhance this customer relationship, PNJ has integrated cutting-edge technology into its business operations.
As a result of these technological advancements, PNJ’s digitalization process has flourished, optimizing resources, refining the modern retail model, and advancing toward sustainable development. PNJ’s journey is a testament to its innovative spirit and commitment to excellence, positioning it as a leader in the jewelry retail industry of Vietnam.
