Pranda targets 20% sales boost
SET-listed Pranda Jewelry (PDJ) targets 20% sales growth this year, driven by international partnerships and production efficiency.
The growth target assumes a sales volume of 3.7 billion baht -- 45% from production, 35% from retail and 20% from distribution, said Chanat Sorakraikitikul, chairman of the financial and risk management committee at Pranda Jewelry.
"Pranda is assured of a good industrial direction because of the economic recovery in partner countries and support from the public sector," Mr Chanat said.
The company's business plan consists of improvement in production efficiency to strengthen sales growth through mass craftsmanship and minimising production costs, he said.
In terms of distribution, the company expects economic recovery in the US, Britain, France and India, Mr Chanat said.
"Our business operation has been improving as the global economy recovers, with more orders from the US and Europe," he said. "The company's risk allocation of original design manufacturers has added to our customer base.
"As a result, the production business, which is a major contributor to the company's main revenue, has received a large amount of orders. Moreover, with the government's measures to promote industry with tax exemptions, the international jewellery design competition, and the promotion of jewellery products among tourists, the company is confident that its earnings growth will hit the target as planned."
The company's retail business places an emphasis on brand establishment, namely Prima Gold, Prima Art, Prima Diamond, Merii, Gringoire and Julia in Thailand, Indonesia and Vietnam, Mr Chanat said, adding that the purpose is to strengthen the company's confidence among consumers and build long-term growth stability.
The termination of the company's subsidiary in Germany comes with a change in distribution policy, as the service is being provided directly from Thailand to support a large customer base in Germany, Mr Chanat said.