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Like stocks, by the time the peak is realized, the acceleration has reversed!

People only realize the peak when they have passed the top

One of the events that caused “seismic” with PNJ and for those who observe it, Chairman Cao Thi Ngoc Dung transferred the CEO chair to Mr. Le Tri Thong.

“To me, The most daring thing is to choose Thong as CEO. People ask why is Tri Thong. Thong is a strategist, not a fashion person, not as young as the fashion industry. At that time, there were also many criticisms. But for me, I see a different angle. What PNJ lacks is what Thong has“, Ms. Cao Thi Ngoc Dung reminisced in the recent talk show of The Next Power.

In 2011, Mr. Le Tri Thong brought two books to the company named: Leading change and Leading change. Chairman Cao Thi Ngoc Dung admitted that these two books are bringing huge changes to PNJ. In the previous years, I changed but it didn’t turn on, because I changed my appearance, but I have not changed my thinking and perception.

Nearly 35 years, PNJ always innovates when we are near the top, not to reach the top and then prepare

CEO Le Tri Thong also expressed that, with the foundation of PNJ, there are still very good strokes. However, if I don’t look far, I will be lulled to sleep by that stroke, that speed.

To maintain a position, a radical change from within is needed. That is something that PNJ leaders soon “enlightened”, but not all employees easily understand.

Almost 35 years, PNJ always innovates when we are near the top, not to reach the top and then prepare. And in the process of going up there, every five years, we look at ourselves, inside and out, to restructure continuously.

People in the organization say “Wow, the company is doing well. Why is it so good that you keep forcing it to change?”. But that’s the formula that always goes. I always have to evaluate my organization, how do I not get old?“, female general PNJ recalled.

It is important to have observation and listening. Review myself and listen to what the outer space is, whether I still fit in it or not. For example, in 2017, when 4.0 technology began to rekindle, PNJ also oriented to follow, one step ahead.

CEO Le Tri Thong shared:Usually when it comes to the top, we only realize when we’ve already passed the top. Like stocks, when the price tops, we say it’s the top when the peak has passed.

During the climb, almost no one knew it was the top. By the time I realized it, it was past the peak and the acceleration started to reverse. And when reversing, turning the negative acceleration back to positive acceleration, the effort and energy is very large.”

However, the problem for PNJ is how to innovate but still keep the train’s rhythm stable, when on the one hand are new generations with lots of new ideas and best practices from many companies. company, many parts of the world about; on the one hand is the success formula of 20, 30 years.

“Instead of normally called “open surgery”, open the ribcage and change the internal parts, here we do “laparoscopic surgery”, we change the parts one by one, sequentially from Part after part, it’s all programmed.”Mr. Thong said. “This is what makes PNJ constantly innovate but it doesn’t take much effort.”

In other words, instead of restructuring, changing a lot of parts, PNJ chose to F5, regenerate, refresh and run faster without having to stop the system.

From manufacturer to professional retailer

10 years ago, PNJ was famous as a jewelry manufacturer and manufacturer. In 2012, PNJ inaugurated PNJ Jewelry Factory, which is considered as one of the largest jewelry manufacturing enterprises in Asia with a production capacity of over 4 million products/year.

As a manufacturing company, PNJ has high discipline, quality management, and tries to control everything. Today, however, while maintaining quality standards, the business gives employees creative space to think outside the box.

Since then, PNJ has expanded its business lines to more categories, not only jewelry, but also beautifying life, beautifying people, even towards the lifestyle story. ).

PNJ has opened a series of the largest jewelry, diamond and watch centers in the whole system in Ho Chi Minh City, and continues to expand the jewelry centers in the provinces. As of the end of the first quarter of 2022, PNJ system is managing and operating 338 gold, silver and other jewelry retail stores.

Meanwhile, the brand’s image also comes closer to the public, especially young people. At the end of 2020, PNJ launches Style by PNJ brand, targeting a group of young customers with modern designs. This unit also collaborated with Chau Bui – one of the most influential fashionistas in Vietnam today, to launch a separate collection. TVCs and advertisements are also close to young people’s lives.

In 2021, despite being affected by the Covid pandemic, PNJ still recorded net revenue in 2021 of VND 19,593 billion, up 12% and completing 93.3% of the year plan. Profit after tax reached 1,030 billion VND. thi-dinh-da-qua-gia-toc-da-doi-chieu-20220603103524979.chn

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