PNJ was honored as National Brand for 9 consecutive times.

PNJ was honored as a National Brand for the 9th consecutive time for meeting the selection criteria of the Ministry of Industry and Trade including quality, innovation and pioneering.

Ms. Cao Thi Ngoc Dung, Chairwoman of PNJ Board of Directors, representing the enterprise to receive the National Brand 2024 title - Photo: Organizing Committee

PNJ has 4 brands named

PNJ was honored as a National Brand for the 9th consecutive time when meeting the strict selection criteria of the Ministry of Industry and Trade including quality, innovation and pioneering. On the evening of November 4, the Ministry of Industry and Trade announced 359 products of 190 enterprises meeting the criteria of the Vietnam National Brand program for the period 2024 - 2026. This is the 9th selection round since the program was launched in 2003, thereby promoting foreign trade development and enhancing the competitiveness of national brands in the international arena through promoting quality products and services. According to the representative of the organizing committee, the criteria system for selecting National Brands is built tightly and strictly. The honored products not only meet quality standards but also must be innovative and have the ability to pioneer in bringing Vietnamese enterprises to the world , enhancing the position and image of the country. Among the 359 products recognized as National Brands this time, Phu Nhuan Jewelry Joint Stock Company (PNJ) has 4 brands named: PNJ gold jewelry; CAO Fine Jewellery high-end jewelry; PNJLab diamond, gemstone, precious metal appraisal service; and PNJ Art gold and silver handicrafts. Ms. Cao Thi Ngoc Dung, Chairwoman of PNJ's Board of Directors, said that enterprises selected as Vietnam National Brands must also fully comply with regulations on production and business, environmental protection, labor, and social responsibility. This not only protects the rights and interests of consumers but also affirms the prestige of the enterprise, directly contributing to the prosperity of the country. The series of 9 consecutive times being honored as National Brands is a sweet fruit for PNJ in its persistent journey of enriching brand value based on the harmonious combination of the world's latest marketing trends with Vietnamese cultural roots. This series of titles also strengthens PNJ's position as the leading jewelry retail brand.

PNJ brand worth 480 million USD

PNJ's brand value has increased 10 times within a decade - Photo: Hung Nguyen

Previously, according to Brand Finance - a global brand valuation organization based in the UK, the market value of the PNJ brand has increased 10 times over the past decade. Currently, the PNJ brand is worth 480 million USD and its brand strength rating has improved to AA+, approaching the highest scale of AAA+. Sharing about the formula for cultivating brand value, Ms. Cao Thi Ngoc Dung said that building and strengthening customer trust can be considered one of the prerequisites. The company regularly implements activities to increase brand recall, focusing on customers to continuously design value propositions and tailor-made products for each segment according to their needs, styles and preferences. "We believe that building a brand is not a matter of a day or two, but requires a strategy and a long process like nurturing people. PNJ is striving to go beyond the limits of a purely commercial brand to become a brand that acts responsibly to honor the beauty of people and life in a sustainable way," added Ms. Cao Thi Ngoc Dung. PNJ's leading position in the industry is also strongly affirmed through high business performance and a network covering many provinces and cities. In the newly released financial report, PNJ recorded third quarter revenue of more than VND 7,130 billion and gross profit of VND 1,251 billion, respectively up more than 3% and 4% over the same period last year.

PNJ's revenue and gross profit both grew by double digits

PNJ recorded Q3 revenue of more than VND 7,130 billion and gross profit of VND 1,251 billion - Photo: Hung Nguyen

In the first 9 months, revenue and gross profit both grew by double digits, reaching VND 29,242 billion and VND 4,881 billion, respectively. Profit after tax in this period also increased by 3.2% over the same period, to VND 1,382 billion, completing more than 66% of the profit target of VND 2,089 billion - a record in the company's history. According to PNJ's management, in the context of a volatile market, maintaining profit growth and a fairly good profit margin comes from the stable operations of retail and wholesale channels, plus effective implementation of measures to optimize resources and improve production and marketing capacity. By the third quarter of 2024, PNJ will own a retail system across 57 provinces and cities with 418 stores, along with a continuously developing online distribution channel. Thanks to that, the PNJ jewelry brand is getting closer to customers to honor and inspire each person in their own beauty. "Becoming a Vietnamese National Brand for 9 consecutive times is not only a recognition of PNJ's correct brand development strategy. It is also a solid launch pad and motivation to help us firmly believe in the expectation of becoming a billion-dollar brand in the next few years, building a leading position in the region and reaching the world. At the same time, with a business philosophy towards sustainable development, PNJ continues to promote activities to implement responsibilities to the environment and society and apply advanced corporate governance standards to bring sustainable values to shareholders, customers and the community", Ms. Cao Thi Ngoc Dung shared.

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Source: https://tuoitre.vn/pnj-9-lan-lien-tiep-duoc-vinh-danh-thuong-hieu-quoc-gia-20241105182826394.htm