KUALA LUMPUR: The Swatch Group (M) Sdn Bhd is investing RM50,000 to RM60,000 in its new “shop-in-shop” in Brunei as part of its strategy to expand its presence overseas.
“We are going to launch a counter in Hau Ho departmentstores in Yayasan and Munggis next Monday,” brand manager Yip Sook Lai said.
The group invested more than RM500,000 in its 560 sq ft outlet in Pavilion, its second store with the Jellyfish concept store after Suria KLCC, she said after the launch of the Swatch Vendome collection at Pavilion Kuala Lumpur yesterday.
The Jellyfish stores employ transparency in its shop design of transparent walls and mirrored ceiling that creates a brighter, fancier and trendier ambience to endorse Swatch watches as a fun brand to buy.
The outlet in Pavilion is the company’s seventh boutique store in Malaysia. It would showcase 300 limited edition Vendome timepieces from Paris until the middle of next month, Yip said.
“We are hoping to bring in the Vendome collection to Malaysia by the end of next year, depending on the response,” Yip said.
She added that the group hoped to sell 80% of its Vendome collection before the exhibition ended.
The group, she added, was looking at the Pavilion store to garner the same sales turnover as its Suria KLCC store in the next 12 months.
Its Suria KLCC outlet is the biggest contributor to group revenue, contributing 60% to retail sales of Swatch watches in Malaysia and Brunei, and 40% to wholesale turnover in both countries.
“We will also be allocating RM400,000 to renovate our Mid Valley Megamall outlet in the first half of next year,” she said. The group plans to open three to four more boutique stores in Malaysia within the next two years, in Bandar Sunway and other strategic locations,Yip added.
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