This is the second consecutive year that PNJ has been included in the Fortune 500 Southeast Asia list, demonstrating flexible business strategies in a volatile economic context, while affirming PNJ's leading position in the jewelry retail industry.
Fortune 500 identifies PNJ as a Lifestyle retailer with sustainable growth thanks to its flexible business strategy (Photo: Minh Truong).
Based on the previous fiscal year's revenue, Fortune 500 announced that PNJ recorded net revenue of VND 37,823 billion in 2024, up 14.1% year-on-year. At the same time, after-tax profit reached VND 2,113 billion, up 7.2% compared to 2023, setting a new historical milestone in the company's 37-year development journey.
These key financial indicators reflect significant growth potential as PNJ is strategically investing in solid pillars to enhance long-term competitiveness.
“Southeast Asia has become a major manufacturing and export hub, attracting significant capital flows. Businesses here have emerged as a resilient growth engine for the world economy, playing an increasingly important role in the global supply chain,” said Clay Chandler, Fortune Asia representative.
Over the years, PNJ has continuously transformed itself to adapt to each market development to maintain growth rate.
Mr. Le Tri Thong, Vice Chairman of the Board of Directors and General Director of PNJ, shared: “We are constantly regenerating and strengthening our internal strength to break through the market's twists and turns, thereby enhancing our competitive position in the Lifestyle retail industry. PNJ is also developing new business segments, typically we are promoting the exploitation of the male customer segment - a market with great potential - through the launch of the Mancode by PNJ brand”.
PNJ CEO shared that the company is constantly regenerating and reinforcing its internal strength to make a breakthrough (Photo: Minh Truong).
According to Mr. Thong, this is a strategic move to expand the company's target customer base. In addition, PNJ is actively applying advanced technology solutions to deeply analyze market needs, thereby building personalized marketing programs, bringing unique shopping experiences to customers.
So, Fortune 500 is announced based on annual financial health, but being included in this ranking comes from a journey of sustainable growth as well as internal strength accumulation over many years.
Typically, PNJ's return on equity (ROE) is stable at 20-22%, with some periods reaching 25%, showing outstanding business performance amid the challenges of the retail sector.
Up to now, PNJ operates 429 stores with a team of more than 9,000 employees nationwide. Initiatives to optimize operating costs and expand the store network to markets with much room for development have helped PNJ's operational capacity to continuously improve.
The effectiveness of expanding the store system and the sales efficiency of existing stores is reflected through the revenue growth rate being higher than the inventory growth rate, so the inventory turnover improved and increased slightly by 3% to 2.6 times.
Personalize your jewelry shopping experience at PNJ (Photo: Minh Truong).
Net revenue/total assets in 2024 is stable at 2.2 times. PNJ's current brand value of 480 million USD (according to Brand Finance) further strengthens the confidence of domestic and foreign investors in PNJ. PNJ's market price at one point approached 108,000 VND (August 19, 2024), bringing the market capitalization to over 36,000 billion VND, ten times higher than a decade ago.
By the end of 2024, the company had more than 14,000 shareholders, an increase of nearly 1,000 shareholders compared to the previous year. Of these, about 350 were foreign investors. Foreign capital continuously poured into PNJ shares to increase ownership, and recently an American investment fund became a major shareholder of the company.
According to PNJ representative, these positive financial indicators demonstrate the effective management capacity and sustainable development strategy of PNJ's board of directors, affirming a solid corporate governance foundation.
By launching the Mancode by PNJ brand, the company expands its service to male customers (Photo: Minh Truong).
In 2025, PNJ is focusing on four strategic spearheads, including expanding the store system; increasing factory capacity; exploiting the jewelry retail market; and strengthening the supply chain.
These changes are part of a long-term strategy to make PNJ the leading sustainable Lifestyle retailer in Vietnam with the mission of honoring the beauty of people and life.
Source: https://dantri.com.vn/kinh-doanh/pnj-lan-thu-2-lien-tiep-vao-danh-sach-fortune-500-dong-nam-a-20250614083508351.htm
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