20 | Thailand Special 2024 INSIGHT 睿智角度 Backed by decades of jewellery manufacturing expertise, unparalleled craftsmanship and business acumen, Pranda Group of Thailand remains a force to reckon with in the international gem and jewellery trade. In fact, the company has again proven its mettle amid ongoing macroeconomic and geopolitical challenges. According to Decha Nuntana, managing director for marketing of Pranda, the company faced major difficulties in 2023, owing to high inflation in the EU alongside the UkraineRussia and Israel-Palestine wars. Such uncertainties caused metal prices, especially those of gold, to skyrocket and hit record highs. And the impact on jewellery consumption was felt the world over. Thanks to its versatility and a strong business foundation though, Pranda acutely recognised opportunities in other markets and redirected its focus on these areas of growth. “Our operations in 2023 were impacted by the slowdown in the EU market, but this was offset by gains from our US clients,” revealed Nuntana. “The US market continues to demonstrate robust demand, and this helped balance lacklustre sales from the EU.” Pranda’s diversified portfolio includes core brands such as Prima, Prima Art, Prima Gold, Merii and Gemondo. Prima Art and Prima Gold are renowned for their top-quality 24-karat gold jewellery. Strength amid adversity With prices of gold escalating, buyers are increasingly viewing the precious metal as an investment tool. This, in turn, is lifting sales of fine gold jewellery. In terms of jewellery designs, however, buyers have become more conservative and are instead opting for smaller, lightweight pieces, according to Nuntana. Gold prices as of April 5, 2024 reached US$2,298.55 per ounce compared with US$2,030.85/oz a year ago, data from the World Gold Council showed. “Demand for gold jewellery continues to strengthen despite rising prices. Gold is still viewed as a haven amid economic and political instability,” explained Nuntana. “The trend today is leaning more towards a minimalist look, with or without gemstones or diamonds, mainly due to higher gold prices. Contemporary styles remain popular.” grows from strength to strength 创造璀璨前景 PRANDA Pranda Group is further fortifying its recipe for growth with sustained innovation, market expansion and a promising foray into sustainable business practices. Pranda Group透过不断创新、拓展市场和可持续发展，提炼出业务成长秘方。
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