PNJ in the list of Fortune 500 Southeast Asia

PNJ is a Fortune 500 enterprise of Southeast Asia - Photo: Viet Hung

The Fortune 500 Southeast Asia list is published annually, based on the criteria of revenue and net profit in the previous fiscal year of the enterprises.

Green finance orientation

In addition to strict criteria for evaluating business size and economic contribution, PNJ's revenue and profit growth rate are key factors for Fortune magazine to include it in this year's Fortune 500 list of Southeast Asia.

This is the first time Fortune has brought this ranking to Southeast Asia and the 500 businesses and corporations in this year's ranking are leading businesses and corporations from 7 countries in the region.

Specifically, Fortune announced PNJ's 2023 business index: Net revenue reached 33,137 billion VND and profit after tax was 1,971 billion VND. Fortune assessed this as PNJ's highest profit ever, breaking the record set in 2022 of 1,811 billion VND, corresponding to an increase of 9%.

According to Fortune , in Vietnam, PNJ has continuously grown, capturing market share and expanding its retail network to 55/63 provinces and cities with more than 400 stores nationwide. PNJ's brand value is estimated at 428.43 million USD, up 17% compared to 2022 and up 44% compared to 2020 (Brand Finance announced).

In particular, in the period from 2018-2023, PNJ has made strong strategic developments with outstanding acceleration in business results. Total profit after tax reached VND 8,033 billion and market capitalization value more than doubled, increasing by about VND 17,000 billion (excluding the private share issuance) during this period.

Mr. Le Tri Thong - CEO PNJ: "Instead of defending, PNJ chooses to attack, making efforts to overcome difficulties". Photo: Viet Hung

Also according to the American magazine Fortune , in recent years, the strong fluctuations of the macro economy have severely affected the financial health of many businesses. In fact, many large companies have had to close after the Covid pandemic as well as being affected by geopolitical developments.

The sustainability and development of PNJ was explained by Mr. Le Tri Thong, Vice Chairman of the Board of Directors and General Director of PNJ: " PNJ strives to achieve and exceed offensive goals instead of defensive ones in the context of the 2023 market facing barriers and surrounding pressures. In the midst of difficult situations, we have continuously innovated and attacked to overcome difficulties in order to bring value to employees, stakeholders and the social community" .

Referring to the future financial vision, PNJ leaders said that the enterprise aims to develop a green economy , focusing on the main pillars: green financial products, green financial institutions, and green financial markets.

"To promote the greening of the economy, PNJ pays special attention to green finance. This is an essential direction in implementing the green growth strategy, aiming at the company's sustainable development," Mr. Thong shared.

PNJ being honored by Fortune is a sharp recognition from an international perspective - Photo: Viet Hung

Leading Jewelry Retailer

“Building on our 70-year history of publishing the Fortune 500, we present to our international readers the Fortune Southeast Asia 500 list. With this new list, we pay special attention to Southeast Asia’s impressive growth story and the largest companies that have fueled the diverse development of the region’s economy,” said Khoon-Fong Ang , Chief Operating Officer, Fortune Asia .

Fortune said that in just 3 decades, the PNJ ship has accelerated strongly. Especially since 2012, after transforming its model from a gold and gemstone manufacturing and trading unit, PNJ has become the leading jewelry retailer in Asia, with a team of more than 7,000 employees.

This success is contributed by the fact that PNJ's leadership has introduced a new retail definition , focusing on the relationship between the business and the customer, bringing satisfaction at every "touch point" in the consumer's shopping experience journey.

PNJ has applied new technology to business operations , applied artificial intelligence (AI) to the production process, brought AI camera systems into stores to collect and provide data for customer behavior analysis. Big Data technology is used to analyze consumer trends and improve the customer relationship management (CRM) system.

PNJ creates and innovates technology - Photo: Viet Hung

PNJ's cloud computing strategy is highly applicable, optimizes costs, increases sales performance by nearly 200% and creates trust for thousands of employees to confidently serve customers.

Thanks to that, the digitalization process at PNJ has developed strongly, optimizing resources, perfecting the modern retail model and moving towards sustainable development.

Source: https://tuoitre.vn/pnj-vao-danh-sach-fortune-500-dong-nam-a-20240617171113382.htm