Business

Saturday July 25, 2009

Habib Jewels to set up shops in Singapore, Indonesia


JOHOR BARU: Habib Jewels Sdn Bhd plans to expand to Indonesia and Singapore by opening permanent showrooms in both countries.

Having outlets there would put the company in a better position to further tap the jewellery retail segment in the two markets, said general manager Gary Joseph.

Gary Joseph with some of the jewelleries produced by Habib Jewels

“We are still looking for suitable locations in Indonesia and Singapore before deciding to open our outlets there,” he told StarBizWeek, but declined to divulge the cost or when the expansion would take place.

Joseph said that over the years, the jeweller had built up a good customer base in Indonesia and Singapore by participating in several jewellery exhibitions and holding private previews.

Indonesians and Singaporeans, who comprised the company’s biggest foreign customers, also frequently patronised its outlets when visiting Malaysia, he said.

Joseph said this at Wednesday’s launch of Habib Jewels’ 60-hour clearance sale at its outlet in the Johor Baru Danga City Mall shopping complex.

The sale, which ends on Monday, is held only at this outlet. It is part of the company’s way of saying “thank you” to its loyal customers in Johor and Singapore.

Habib Jewels is offering up to 70% discount on selected diamond and gemstones jewellery and RM6 off per gram on all 916 gold items.

Joseph said the company would not rush in making the decision for the Indonesian and Singapore outlets, as it preferred to site them in strategically-located places.

For instance, it would only open its Singapore outlet along Orchard Road and not at any suburban areas, he said, adding that the company had been offered many locations which it deemed unsuitable for “good business”.

Habib Jewels, which now has 19 outlets in Malaysia, will open another one in Kota Baru by year-end.

Joseph said the company was seeing a surge in the number of customers buying gold items and certified diamonds as investment products during the current economic slowdown.

He said when major global currencies weakened and there were still no definite signs of recovery in the world economy, many would buy gold and diamonds instead of holding on to hard cash.

Joseph said certified diamonds were gaining popularity, especially among Malaysian professionals aged between 23 and 45 years.

“As the saying goes, diamonds are a girl’s best friend, but more men are also going for diamond-encrusted jewellery,” he said.

Joseph said diamond jewellery and other gemstones were becoming more popular among Malaysian men now. Instead of showering their girlfriends or wives with diamonds, men would buy these pieces for themselves, he added.

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