Habib Jewels to sell Europe-designed jewellery

The company's first foreign brand, the Pandora, is a Denmark-fame bracelet, that has been solely distributed in Malaysia since 2011.

Managing Director Datuk Meer Sadik Habib said the plan to bring the new jewellery brand to Malaysia is at the final stage.

"The brand maybe available for gold buffs in Malaysia by April," he told Bernama.

Meer Sadik, however, declined to divulge further details on the brand, saying an announcement will be made in the near future.

Meer Sadik said the company has expanded into a diversified business entity over the years, covering wholesale, retail, manufacturing, marketing and franchise.

"We intend to add at least two more Habib Jewels outlets to its current 32 and 10 Pandora outlets to the existing 16.

"The new outlets will be opened in three to five months in Kuantan and Seremban Two, given the promising business potential there, he said.

Meer Sadik said the company aimed to achieve 20 per cent higher sales this year than last year, driven by strong demand for gold and diamonds.

He said Habib Jewel's yearly event, Diamond Fest 2014, to be held in April would also help to boost sales.

"We've a higher sales target this year as we see a growing demand, driven by buying and keeping gold as an investment, a step being taken by consumers before the Goods and Services Tax is implemented on April 1, next year," he said.

On challenges, Meer Sadik said the jewellery market in Malaysia was not at a level-playing field, considering that no tax was imposed on international traders who came to participate in exhibitions in this country.

"This is not good for the country," he added.

The homegrown jeweller is firmly committed to continuous research and development to identify new market trends in efforts to provide world-class jewellery to domestic and international markets alike.