Phu Nhuan Jewelry Essay
Phu Nhuan Jewelry
In April 28th, 1988, Phu Nhuan Jewelry Trading Store was founded with an investment of only VND 14 million and its first 20 employees. In 1990, this founding store became Phu Nhuan Jewelry, Fine Arts and Currency Exchange Company, being under direct control of Financial Administration of Ho Chi Minh City Committee. Phuong Hoang Gold Bar was also launched then. In 1992, the company was renamed Phu Nhuan Jewelry Joint Stock Company. This stage witnesses great changes with bold investment in Italian technology production line.
In the same year, the company also co-founded Dong A Bank and formed a joint venture with Phu Nhuan House Trading and Devepment Company. In 1995, PNJ expanded its activities into motorbike trading as a Head of Honda. Also in this year, PNJ set up the first gas logistics in Ho Chi Minh City, VINAGAS. Since 1998 till 2003, Branches in Ha Noi, Da Nang and Can Tho were set up while number of stores in Ho Chi Minh City kept increasing. Not only spreading nationwide, PNJ also exports to foreign markets, starting with Singapore, Malaysia and the US.
In 2003, PNJ co-found Dong A Real Estate Join Stock Company and be shareholder of SG Fisheries Joint Stock Company. In Jan 2004, PNJ changed into a new type of business: Joint Stock Company, under the full name Phu Nhuam Jewelry Joint Stock Company. In 2005, PNJ re-launched PNJSilver and launched a premium trademark CAO – Fine Jewelry. In 2007, PNJ was ranked Top 200 Largest Enterprises in Vietnam by United Nations Development Programme (UNDP).
In 2008, PNJ launched new logo and re-launched gold bar trademark under a new name: Phoenix PNJ- Dong A Bank. In present, PNJ keeps growing in all aspects: manufacturing system investment and workforce development, export market expansion to Europe, U. S. A, Australia, etc. The company’s asset has raised up to 2. 000 billion VND, the number of employees has now been nearly 2. 000 people and PNJ has an international-standard jewelry factory with 1. 000 professional goldsmiths.
Until now, PNJ’s retail system has expanded to more than 100 stores nationwide. PNJ is very proud of its famous and prestige jewelry brands in Vietnam, which include the PNJ Gold, PNJSilver, CAO Fine Jewelry and Phoenix PNJ – DongA Bank Gold Bar. PNJ has received different awards throughout years, such as Top 500 Retailers in Asia-Pacific Award (from 2004 until now), High Quality Vietnamese Products Award for 12 consecutive years from 1998 to 2009, Vietnamese Golden Star Award, Best Vietnamese Brand Award, Vietnamese Quality Award, etc.
PNJ was the first local jewelry company exporting products overseas. Since 1995, PNJ jewelry products have been introduced in Hongkong Jewelry Fair, as well as exported to Denmark, Germany, U. S. A, Australia and start entering Dubai market. Throughout 21 years of development, PNJ has successfully completed business tasks, taken care of social community, contributed for the Vietnamese jewelry industry, and also contributed to the development of the economy – society of the country.
University/College: University of Arkansas System
Type of paper: Thesis/Dissertation Chapter
Date: 28 September 2016
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