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The Global Compact

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The Global Compact The Global Compact “ Pranda Group of Companies ” was founded in 1973 initially as Pranda Design Company Limited to operate and export its own uniquely-designed jewelry mainly to European market and in the subsequent period to the United States. Thanks to rapid expansion and market growth, the Company expanded its business operation and set up its own factory to accommodate rising demands and was later renamed to Pranda Jewelry Limited in 1984 and listed in the Stock Exchange of Thailand on July 1, 1990. Pranda Jewelry Public Company Limited Trade Partners Employees The Group’s business accomplishment stems truly from the management’s far seeing strategic policies and visions which are based on ensuring responsibility and accountability for all stakeholders, be it shareholders, employees, trade partners, competitors, related institutions, government units, and neighboring communities with the steadfast belief that accountability to all stakeholders will directly benefit not only the Company, but most of all, our Customers’ who will gain from quality products and swift services. The Pranda Group was one of the first companies in Thailand to sign up to the United Nations Global Compact which aims to strengthen cooperation between global corporations, internal units of the United Nations, organizations, public sector and the government sector to promote environmental protection, human rights, labor standards, and anti-corruption. Participation in the United Nations Global Compact program is a cornerstone of Corporate Social Responsibility which gives guidance to Corporations to run their businesses on an accountable and responsible basis both to society and the environment. The Group treats this responsibility as an indispensable principle for sustainable growth of gems and jewelry industry as a whole. The Global Compact The Pranda Group is committed not only to running the business in accordance with the Global Compact but also promoting the values of human rights, employment standards, environmental impact, and business ethics under a management philosophy based on honesty, righteousness integrity, shareholder benefits, efficiency, effectiveness, social responsibility, governing regulations and good corporate management. The Group has always realized the importance of responsibility for all stakeholders in society both in terms of environmental protection and safety and prosperity of community and the country. Mr. Prida, was the guest speaker at the Asia Pacific Business Forum. ***To Promote and Campaign to Build a Good Sense of Social Responsibility*** The Company has also joined in campaigns dedicated to royal charities to encourage management and employees to apply the principles of Sufficiency Economy initiated by His Majesty the King into practices both in working and daily life for the benefit of happiness and peace of the Kingdom. Mrs.Prapee Sorakraikitikul, President of Pranda Jewelry Plc. receives award from Mr. Palakorn Suwanarath, the Privy Councilor for participating in a work performance competition under the “Philosophy of Sufficiency Economy’’ for large- scaled enterprises which run their business according to the Sufficiency Economy Philosophy organized by the Office of the Royal Development Projects Board of the Prime Minister’s Office. The Global Compact ***Sufficiency Economy and Business Management of Pranda Jewelry Plc.*** • Moderation The Company has applied the principle of moderation in determining marketing policy, producing high quality products at moderate prices without stimulating excessive consumption and demand of customers. • Reasonableness The Company is fully aware of and well understands what particular markets demand and its own capability and competence, hence concentrating on the middle-end market as the company’s target to match its core competence and production strategy. • Self-Immunity Pranda Group accepts the need to be flexible and is poised to cope with changes by ;- 1.) Determining a clear marketing strategy to curb any possible impact from volatile economic conditions which may arise in certain countries. 2.) Expanding into markets worldwide to diversify risks and to avoid dependence on any particular markets by being committed not to selling more than 30% of the product portfolio to any particular market. 3.) Continuing expanding new markets such as Germany, Eastern European countries, and India. Exploring new appropriate production bases and ensuring that the quality of the products matches the purchase values of customers in the best bid to create maximum satisfaction to customers in each market. - Knowledge The Company continually supports learning and development of its employees within the organization in jewelry production as well as strengthening their knowledge and understanding of product development. - Virtues The Company has set the same pricing standards by making and distributing the quality products at appropriate prices as well as protecting environmental conditions in neighboring communities. - Equilibrium and Sustainability The Company maintains a perfect balance or equilibrium on solid foundations as follows:- The Global Compact 1. Design and Product Development Base of over 250 staff. Consisting of a highly skilled and creative designer team and world-class skilled model makers who are in charge of developing product designs for many of the world’s leading brands as well as the Company’s own brands. Design and Product Development Building Designer 2. Production Base The Pranda Group of Companies have extensive and efficient jewelry production facilities which achieve economies of scale, bringing as a result appropriate production cost with product quality. The Company has also well diversified its production risks by setting up seven production facilities in four countries including Thailand, Indonesia, Vietnam and China with production capacity of over 8.23 million pieces a year to cover a wide range of product price points. Thailand Indonesia Vietnam China 3. Distribution Bases The Group currently operates distribution and sales facilities not only in Thailand but also overseas markets to diversify marketing risks and expand the Group’s market base. Existing distribution bases now cover key regions around the world :- the United States, the United Kingdom, Germany, France, Italy, Spain, Indonesia, Japan, China, Vietnam, India and Thailand. Distribution channels include distributors, retailers, own-retail shops, and a retail franchising operation for the high end product. The Global Compact Pranda & Kroll GmbH & Co.KG (German Pranda Jewelry Private Limited(India) Pranda North America Inc. (USA) 4. Retail Base The Company operates a high end retail network ( wholly owned or Franchised ) through 200 outlets which are located in prime business areas and shopping centers worldwide from the Middle East to Asia Pacific region. Pranda Vietnam Co.,Ltd. Pranda Guangzhou Co.,Ltd. PT Pranda SCL Indonesia PT Gold Martindo (Indonesia) ***Promotion and Campaign for sense of Social Accountabilities*** The Group has also encouraged all employees to jointly celebrate the 60th anniversary of His Majesty the King’s accession to the throne to show determination to do a good deed and wear a yellow T-shirt with the royal emblem. In addition, the Company has jointly organized activities within the Celebrations on the Auspicious Occasion of His Majesty the King’s 80th Birthday Anniversary. In order to promote and encourage Thai people as well as entrepreneurs to know how to sensibly purchase, sell, use and consume, the Company has jointly supported activities held by the Consumer Protection Board and Foundation for Consumers to explore for substantiated ways to protect customers. Celebration on the Auspicious Occasion of His Majesty the King’s 80th Birthday To participate in the fund raising activities for the consumer protection institutes The Global Compact The Group together with employees has as well participated in blood donation campaigns on regular basis for every three months to the Thai Red Cross Society since 1991 as well as donating money and survival kits to the needy compatriots who suffer from crisis on different occasions such as the flood victims in many provinces and to contribute financial assistance through the Thai Gem and Jewelry Business Traders Association and the Thai Red Cross Society to cyclone Nagis victims in Burma. Blood Donation *** To Promote the Social Venture Network (SVN)*** Pranda Group of Companies are members of the Social Venture Network (SVN), a global network of entrepreneurs who can exchange experiences and connect business leaders who share similar visions in business administration aiming to transform the way the world does business without hurting society and environment. The commitment of SVN is also to promote and support developing business consciousness which eventually results in the increased respect to society, the environment, the legitimate rights of the community and fair business activities for all parties. The network also understands that a disparity of existing resources, opportunities and potentials exists, and encourages each organization to grow their businesses with sustainable growth , responsibility, and business consciousness which eventually leads to increased respect to environments, the rights of community and society and care to the beautiful Mother Nature for our future next generations. *** Life Quality Development in Pranda Group *** The Group has always recognized the importance of treating all employees
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