JNA Awards 2020 - Jewellery Industry Best Practices

JNA AWARDS • 2020 57 To further build confidence among its clients, DOJI offers flexible and competitive buyback policies for products that are high in gold content. Similar guarantees for 14-karat and 18-karat gold, diamond and gemstone jewellery are also published and disclosed to customers at the beginning of the transaction. Remaining relevant More recently, the company modernised some aspects of its business due to the pandemic. “COVID-19 affected both Vietnam and the world. Quarantine and social distancing policies greatly affected our traditional channels, leading to a pause in operations, as overhead expenses continued to pile up,” explains Do. To make up for reduced traffic in physical stores, DOJI promoted online sales platforms and held live streaming for customers to allow them to shop from the comfort of their homes. Free shipping was also offered. Over time, DOJI’s strategy yielded positive results. Revenues increased eight-fold over a 10-year period. The customer base also grew by 222 percent in 2019, and is expected to increase by 400 percent in 2020. The expanding client roster and growth in sales were directly related to customer satisfaction with DOJI’s product and service offerings. The jeweller likewise received a number of accolades, including the First-Class Labour Order of the President of the Socialist Republic of Vietnam for Outstanding Achievements. Furthermore, the company has set its sights on doubling its network of retail stores to 160 in 2020. In terms of assets, DOJI’s VND 300-billion (about US$13 million), 10,000 square-metre factory has been ISO-certified. The diamond-inspired, 16-storey DOJI Tower in Hanoi, on the other hand, steadily rises in prominence as a jewellery centre in Vietnam. More than gold, architecture and technology, it is the 1,475 people who work for the company that DOJI is proudest of. “The most valuable asset is the people. We strive hard to ensure that the workplace inspires them to show their willpower and creativity,” says Do, adding that trained professionals audit the workplace every six months to guarantee its compliance with best labour practices and environmental safety regulations. DOJI’s corporate culture extends well beyond the borders of the company. It established a social charity fund named The Shining Heart, which receives at least VND 2 billion (around US$87,000) annually to support various causes. The company also donated US$1 million to government units and hospitals that were affected by the pandemic. Innovative in spirit, adaptable to change and socially responsible, DOJI definitely possesses the hallmarks of an outstanding enterprise. 1, 3. Flagship store 2. Diamond pendant and earrings 4. Duc Do Minh, Vice President and General Manager of DOJI Gold & Gems Group JSC 5. 24-karat gold jewellery set 3 4 5