KUALA LUMPUR: Jewelry e-commerce platform MS Jewels Sdn Bhd goals to realize RM10 million in gross sales income this 12 months and plans to open a retail showroom by 2030, based on founder and managing director Eric Leong.
MS Jewels, a completely owned subsidiary of MS Gold Crafts Industries Sdn Bhd, began working in 2019 and sells a variety of gold and diamond jewelry on-line. At present, it affords free workmanship for its ready-stock gold merchandise and by-request diamond jewelry customisation respectively.
A brainchild of Leong, 25, MS Jewels began working earlier than the Covid-19 pandemic. Enterprise initially proved to be an uphill battle by way of gross sales income because the model was unknown, being new to the market, and it lacked buyer belief. Its net visitors was steadily rising over time however not changing into gross sales.
Leong identified that when the Covid-19 pandemic hit, gold was the principle focus through the interval as costs had been at a historic excessive. Throughout the motion management order (MCO), e-commerce was one of many important sectors that might function. MS Jewels’ net visitors spiked throughout that interval and began to translate into gross sales.
“This 12 months, as we transition into the endemic part, we’ve got many returning prospects who bought from us through the MCO. Our net visitors continues to be rising and we began to increase, akin to tapping into GIA-certified (Gemological Institute of America) diamonds market, providing customisation and permitting walk-ins to our workplace. That helped to spice up our gross sales income too,” he informed SunBiz.
“For 2022, our year-to-date gross sales income is round RM8.8 million and our month-to-month net visitors is averaging at 70,000-110,000 guests. Our goal for this 12 months by way of gross sales income is RM10 million. Thus far issues appear to be going as deliberate, let’s hope we will stick with it for the remainder of the 12 months,” stated Leong.
On growth, he stated MS Jewels plans to open a retail showroom in Kuala Lumpur by 2030, pushed by the goal to showcase larger priced level merchandise, specifically finer jewelry.
“Our HQ will showcase finer jewelry assortment, together with Chinese language wedding ceremony jewelry and superb diamond jewelry focusing on the upper revenue group of customers. We hope to diversify and increase to cater to extra client markets. We’ll increase parallel in each channels, in the direction of the mass market on-line channel, and in addition the area of interest market superb jewelry channel to maximise our gross sales income and revenue,” he shared.
At present, the corporate is especially centered on the home market, however Leong revealed that it does have abroad orders every so often.
Its goal customers are primarily girls, starting from ages 25 to 45, who’re within the T20 and M40 revenue teams. Leong noticed that the majority of its prospects are from different states, which he stated is probably going as a result of larger retail costs there, particularly in Sabah and Sarawak.
Leong stated MS Jewels had been among the many first few which ventured into the net retail jewelry market, even sooner than well-known manufacturers available in the market, which he famous have began their very own on-line shops now.
On the way it competes with different manufacturers available in the market, he stated the corporate shouldn’t be burdened by excessive overheads of showrooms, not like the extra established manufacturers. Its decrease overheads enable it to supply merchandise at aggressive costs and its skill to supply its merchandise at aggressive prices, which he attributes to upstream provide chains actions carried out by its mother or father firm.
“On the finish of the day, most industries can be saturated with gamers. However I consider that’s the reason it’s a must to get your aggressive benefit, making you stand out from the remainder. I can confidently say, for MS Jewels – we’re competitively priced in comparison with many on-line retailers and bodily retailer companies. For this reason we’ve got many repeat prospects who’ve been round since day one.
“Buyer satisfaction is essential for us too, therefore why we opened up MS Jewels for walk-ins and we realised that even with the large shift to on-line buying, there are nonetheless prospects preferring to buy in-store. Not solely being value aggressive, however preserving our prospects completely satisfied can be one other method we goal to vary from the remainder,” he opined.
Leong stated MS Jewels additionally goals to bridge the hole between transparency and on-line comfort within the gold market, as not many on-line retailers are promoting at aggressive costs.
“Moreover, as most gold retailers at the moment had been solely bodily ones, we understood prospects’ altering calls for and more and more busy schedules, and needed to cater to that and provide the service of buying on-line as a result of comfort. Thus, our goal once we began MS Jewels, was to create a platform whereby people might store for his or her gold jewelry with out leaving their home and nonetheless get the absolute best value on the market,” he stated.
Leong understands that purchasing jewelry in-store is the normal method. Nonetheless, with the altering societal calls for, on-line buying is now turning into an increasing number of favoured. The corporate is assured in its designs and high quality workmanship. Its finish purpose is to make sure prospects really feel assured and happy when buying jewelry with MS Jewels.
For extra data, go to https://msjewels.com.my/ or WhatsApp +6019 213 8656.
