Leading jeweler invests in pawn shop chain
PNJ has decided to invest in pawn shop chain Golden Friend, with the stipulation it cannot exceed 30 percent of the latter’s charter capital.
Customers shop at a Phu Nhuan Jewelry store. Photo courtesy of Phu Nhuan Jewelry.
The Board of Directors of the Phu Nhuan Jewelry Joint Stock Company (PNJ) has entrusted PNJ CEO Le Tri Thong with deciding the value and timing of the investment.
The Golden Friend Joint Stock Company was founded in 2017 with a charter capital of VND1 billion, which was raised after six months to VND10 billion.
The company introduced itself as a strategic partner of PNJ. Golden Friend has 21 pawn shops, all of which are located inside PJN stores. It accepts expensive accessories made of gold, silver and diamond, and also luxury watches like Rolex, Hublot and Patek Philippe.