Poh Kong Holdings plans five more stores
In this article (5)
Malaysia’s largest jewellery retailer, Poh Kong Holdings, plans to spend up to RM25 million (US$5.6 million) to open five more stores in Malaysia this year.
The company says two of the outlets will be in Johor, a state with an appetite for gold and gemset jewellery.
Each outlet costs up to RM5 million to set up, including inventories, says Poh Kong business development manager Edison Choon.
He declined to reveal the locations of the other three possible stores.
By year end, he says, the company aims to have at least 100 stores (there are now 97 outlets, all in peninsular Malaysia).
At the moment, 71 per cent of Poh Kong’s revenue is generated in the Klang Valley. Analysts say the company has 16 to 20 per cent share of Malaysia’s gold jewellery market, which is estimated to be worth RM5 billion.
Questions & Answers
Q.What is the total investment Poh Kong Holdings plans for these new stores?
What is the total investment Poh Kong Holdings plans for these new stores?
The company intends to spend up to RM25 million (US$5.6 million) to open the five new stores. Each individual outlet has an estimated set-up cost of up to RM5 million, which includes stock for sale.
Q.Where will the new stores be located and why were those regions chosen?
Where will the new stores be located and why were those regions chosen?
Two of the new stores will be in Johor. This state was chosen because it has a strong demand for gold and gemset jewellery. The locations for the other three potential stores were not disclosed.
Q.How many stores does Poh Kong Holdings aim to operate by the end of the year?
How many stores does Poh Kong Holdings aim to operate by the end of the year?
Poh Kong Holdings currently operates 97 outlets, all located in peninsular Malaysia. By the end of this year, the company's objective is to have a minimum of 100 stores in total.
Reader pulse
Poh Kong's expansion: good move?
17,080 votes so far