In the third quarter of 2024, the retail jewelry channel grew by 20.1% year-on-year, accounting for 69.8% of the revenue structure, while 24K gold revenue decreased by 46% year-on-year.
PNJ's business report shows steady revenue growth across all channels. Retail jewelry revenue increased by 15.9% in the first 9 months of the year thanks to effective exploitation of market segments, development of store network and diversified marketing campaigns; the number of new and old customers continued to grow.
Wholesale channel revenue recorded an impressive growth of 30.2% thanks to customer demand shifting to reputable manufacturers.
Accumulated for the first 9 months of 2024, the average gross profit margin reached 16.7%, down from 18.4% in the same period in 2023.
In addition, PNJ continuously increases its presence, brand recall and customer interaction through expanding its store network. In the first 9 months of this year, PNJ increased its number of stores to 418 across 57 provinces and cities.
In addition, the company introduces many new collections, diversifying product categories to suit the needs of each customer segment.
