JNA Awards 2020 - Jewellery Industry Best Practices

JNA AWARDS • 2020 87 Corona Disease Control Committee and created a Building Business Continuity Plan – both of which work hand in hand to monitor social distancing requirements and related protocols in its sites. Management also deemed it wise to move inventory to safer areas to guarantee seamless operations. In the end, PNJ increased overall productivity by 30 to 50 percent and per capita productivity by 12 percent. The company also reduced the number of faulty items to less than 1 percent while customer satisfaction skyrocketed to 98 percent. Outstanding Enterprise of the Year PNJ unveiled instalment programmes through partner banks and finance companies, after having identified that 30 percent of its customers use credit cards and that 37 percent of them are new clients. It also launched e-commerce sites, thus growing online revenues by 215 percent in 2019. The same perseverance is imminent in the way the company faced COVID-19 in February, with the pandemic posing a threat to the all-important Valentine’s Day sale. In response, the jeweller offered delivery services and gave away pairs of face masks to buyers. These were delivered to customers by no less than a “PNJ Cupid.” As a result, PNJ exceeded its Valentines’ Day sales target of US$4.5 million even as the market slipped down by 17 percent. PNJ reached US$777 million in annual revenue and a 25 percent jump on its US$63 million pre-tax profit. Customers who bought gold and silver products also increased by 20 percent and 19 percent, respectively. Sustainability Initiative of the Year PNJ believes that sustainable business practices will further improve its long-term profitability. The company’s new equipment are known to reduce its ecological footprint, resulting in a drop in the volume of wastewater and solid wastes, noise and other pollutants. This also helped its facilities cut precious metal consumption by five percent and save US$390,268 in production costs. In response to the pandemic and other random risks, the company strengthened its mobile assets. “The COVID-19 pandemic has made us much more aware of the importance of health – the overall well- being of our people, the market and the system, and revealed vulnerabilities that needed to be addressed immediately. This is why issues such as climate change and a comprehensive environmental protection strategy will always be an integral part of PNJ’s business and production activities,” notes Le. 1. Team-building activities 2. PNJ leads an autism awareness event 3. PNJ CEO Le Tri Thong receives the 5-Star Award from the Vietnam Youth Federation 4. A PNJ goldsmith processing a product 5. Topaz True Love wedding necklace by PNJ 2 3 4 5