Thai jewellery maker Pranda Jewelry is strengthening its manufacturing plants in Thailand, Indonesia and Vietnam as it gears up to meet export potential.
Chairman of finance/risk management Chanat Sorakraikitikul says the company has relied heavily on Thailand’s high craftsmanship and skilled workers to produce refined jewellery. While Thailand is still important for high-end export products, the company is setting up its Vietnam base to take advantage of the different skills there.
“Established in 1995, our Vietnam manufacturing base will be for exports of lower- to middle-end jewellery products, such as marcasite, mainly to America and Europe.”
Pranda’s jewellery factory in Vietnam can produce about 25,000 items a month, and is running at about 70 per cent capacity because of a recession in the jewellery business in Vietnam.
Chanat says the company would expand its investment in the Vietnamese plant to better serve the international trade potential once the Trans-Pacific Partnership (TPP) agreement comes into force.
“We will maintain our plan to be a world-class jewellery producer, with a focus on mass craftsmanship, high quality and quantity. We are the partner of choice for leading jewellery companies worldwide, providing both original design manufacturing and original brand manufacturing with an integrated network worldwide.”
Meanwhile, the company’s retail network covers Thailand, Indonesia, the Philippines, Malaysia, Myanmar and Vietnam, plus the Middle East.
Pranda Jewelry posted Bt1.31 billion (US$37.68 million) in total sales in the first six months of this year, up 5.4 per cent. Sales in the second quarter grew by 26.3 per cent thanks to new key accounts and retail growth.
Retail shops include franchisees, with 184 points of sales – 87 in Thailand, 54 in Indonesia and nine in Vietnam. The company also has a presence in Malaysia and the Philippines.
Pranda Jewelry has 2800 skilled craftsmen in Thailand, 360 in Vietnam and 100 in Indonesia, where its factory will serve mainly potential markets in Northern Europe.