Com­pany plans 2 new out­lets in Da­mansara, Shah Alam, as it fo­cuses on mid­dle-in­come group cus­tomers

New Straits Times - - Business -

YBS Re­tail Trad­ing Sdn Bhd, the owner of the Gull Jewellery brand, is tar­get­ing RM15 mil­lion in sales over the next five years fol­low­ing the open­ing of new out­lets.

Chief ex­ec­u­tive of­fi­cer Muham­mad Sole­hud­din Sham­sud­din said the com­pany, cur­rently with one out­let in Wangsa Maju, planned to open a sec­ond by yearend and the third soon after.

“We have iden­ti­fied lo­ca­tions in Da­mansara and Shah Alam for our out­lets.

“After mak­ing our pres­ence felt in the Klang Val­ley, we will then pen­e­trate other re­gions (in the coun­try),” he said.

The 24-year-old said he ex­pected the three out­lets to gen­er­ate at least RM5 mil­lion in sales each, and was con­fi­dent they would meet the tar­get based on de­mand from their tar­get mar­kets.

Most of Gull’s cus­tomers are from the medium-in­come group who want an ex­clu­sive touch to their jewellery, but at af­ford­able prices.

He said the com­pany also ab­sorbed the goods and ser­vices tax in­stead of pass­ing it onto their cus­tomers.

“Due to this, our prod­ucts are slightly cheaper com­pared with big name stores and jewellery out­lets at shop­ping malls,” he said.

He said gold re­mained a safe haven as­set and peo­ple would con­tinue to buy it, ei­ther to wear or as an in­vest­ment, de­spite the eco­nomic slow­down.

On busi­ness tips for young en­trepreneurs, he said he started his busi­ness by pur­chas­ing items from a third party and ship­ping them di­rectly to his cus­tomers.

“After a few years, I man­aged to se­cured my cus­tomers’ trust and, even though I could ven­ture into an­other sec­tor, I have cho­sen this safe haven mar­ket as I be­lieve it will pro­vide me more value in the longer term,” he said. Ber­nama

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