Denmark JV joins Vietnam's jewelry market

August 06, 2012 | 12:00

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A Danish joint venture and the Danish embassy have introduced new jewelry collections in Ho Chi Minh City last week as a result of a Danish B2B programme.

Danish Vietnamese Jewelry Company (DVJ), with 49 per cent stake held by Denmark-based AABYBRO Gold & Silver Co. and the remaining 51 per cent stake belonging to Vietnam's Nhu Lam Jewelry was established in 2011 as a result of a $67 million B2B programme, supporting the establishment of trade ties between Danish and Vietnamese enterprises.

Since its establishment in 2011, it is the first time DVJ has introduced its collection in Vietnam to join the local jewelry market. DVJ targeted revenue of $3.6 million from exports in 2012, said Nguyen Binh An, sales director of DVJ.

Currently DVJ has imported one jewelry manufacturing line from Europe for its operation.

"These collections introduced are designed by DVJ itself and planned to export and sell domestically," said An.

By Hai Long

vir.com.vn

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