GEORGE TOWN: Habib Jewels Sdn Bhd, Malaysia's premier homegrown jeweller, is looking to record double digit growth, between 10 and 18 per cent, in terms of sales for next year.
With 29 branches nationwide, Habib is also looking to open another branch in Kuala Terengganu soon and eyeing several new branches in numerous up-and-coming iconic buildings in the Klang Valley.
Habib Group executive chairman Datuk Seri Meer Habib said the company had been very fortunate, that despite the slowdown in the economy, they had been enjoying good business with the increase in gold prices.
He added that Malaysia was probably the best place in the world to purchase gold since no tax was imposed.
"This year, we recorded 18 per cent growth in sales compared to last year, which is very good for us.
"It is still very hard for us to predict the scenario for next year, but if all remains the same, we are looking at double digit growth. We are happy if we can achieve 10 per cent growth or match this year's," he said at the unveiling of Habib's newly-renovated showroom in Gurney Plaza here today.
The Habib's branch in Gurney Plaza is the biggest showroom in a shopping mall, spanning 1,734sq ft.
The renovation costs about RM1.5 million with its concept drawing inspiration from the brand's evolving direction.
Besides domestic sales, Meer said the company also enjoyed international business with the biggest market coming from the Middle East, Hong Kong, Singapore, Brunei and Indonesia.
Meanwhile, asked if gold was the way forward for new currency with the weakening ringgit, Meer said the trend is very strong, with gold prices on the upward trend in the past five to 10 years.
"We have been conducting many gold bar transactions as there are many people who buy gold as investment.
"And with the trade war ongoing, more and more people are looking to invest in gold," he added.
Habib started 61 years ago with its first branch in Pitt Street here.