PNJ to expand retail system, online sales

PNJ to expand retail system, online sales

Cao Thị Ngọc Dung, PNJ’s chairwoman, speaks at the company’s annual general meeting in HCM City on April  二 一. — VNS Photo Courtesy of PNJ

HCM CITY — Phú Nhuận Jewelry Joint Stock Company (PNJ) has said it will further expand its retail network and online sales and carry out customer segmentation to offer tailor-made designs meeting the needs of every customer.

Speaking at the company’s annual general meeting in HCM City last Saturday, chairwoman Cao Thị Ngọc Dung said the company targets VNĐ 一 四. 一 九 五 trillion (US$ 六 六 二. 五 八 million) in revenues and VNĐ 八 八 二 billion ($ 三 八. 六 八 million) in net profits,  三0 per cent and  二 二 per cent higher than last year.

Revenues from online sales are expected to rise five-fold to VNĐ 一 五0 billion this year and at least VNĐ 一 trillion by  二0 二 一.

The company would also open at least  四0 stores this year to increase the total number to more than  三00, she said.

Two subsidiaries, PNJ Production and Trading Ltd and Customer Era Ltd, would be set up for trading jewellery, precious metals, precious and semi-precious stones, gold bars, souvenirs and gifts, import and export gold jewellery and import and distribute watches, eyewear and fashion accessories, she said.

PNJ plans to issue bonus shares this year at the ratio of  二:  一, increasing its charter capital to VNĐ 一. 六 二 一 trillion.

It will also make a  三 per cent ESOP, equivalent to  四. 八 六 million shares, at a par value of VNĐ 二0,000 to members of the board making outstanding contributions and the most competent staff at PNJ and its subsidiaries.

The meeting also voted two new members of the board of directors.

Lê Trí Thông, vice chairman and general director, said last year was a successful one for PNJ, with sales growing by  二 八 per cent to VNĐ 一 一.0 四 九 trillion, and jewellery retail sales accounting for nearly VNĐ 五. 七 八 trillion.

Its consolidated pre-tax profit was  五 四 per cent up at VNĐ 九0 八. 一 一 billion, he said.

He attributed the company’s success to its investing in modern production and managment technologies, human resource development, risk management and development of its brand and retail network.

According to the World Gold Council, demand for jewellery gold in Việt Nam increased by  七 per cent last year to  一 六. 五 tonnes. The demand is expected to keep increasing. — VNS