KUALA LUMPUR: PG Jewel Sdn Bhd, the jewellery arm of Aurora Italia International Bhd, is targeting expansion to 200 outlets nationwide in the next few years, up from just three it currently has.
Director Jessie Ng said the jeweller has launched its first flagship store in Kota Kinabalu, Sabah, in June and will open one more branch in Perak in the coming weeks.
“Our target is to open 200 branches across Malaysia. We plan to keep expanding because physical stores make our jewellery more accessible,” she told SunBiz in an interview.
Ng said the gold market has been volatile in recent years, driven by inflationary pressures, geopolitical tensions and shifting global trade policies. However, she stressed that demand for gold jewellery in Malaysia is resilient.
“People usually buy jewellery not just for investment. They buy it to wear, to feel it, to style it.”
“Even financially challenged people buy gold jewellery and, when in need, they can pledge it at Ar-rahnu for short-term financing. This is part of daily needs, not just luxury,” she said.
Ng said while investment bars are more sensitive to global price swings, jewellery demand has been steadier, especially for PG Jewel’s hallmark 999 (24K) offerings.
“Women don’t really want investment in gold only. They want to wear it, to show it, to style it. In the long term, customers who buy jewellery are not doing so purely for its investment value,” she added.
Ng observed that customers are becoming more informed and price sensitive with social media giving consumers access to real-time pricing information.
“For us, because we have 999 gold jewellery, customers are able to accept it compared to 916. The content is higher , 99.9% gold compared to 91.6%. That makes a difference, and the market is shifting towards it,” she said.
She added that gold bars continue to see increasing demand among investors, but jewellery remains firmly embedded in Malaysian culture, which may be passed down through generations or purchased for daily wear.
To navigate price fluctuations, PG Jewel has turned to research and development in lighter-weight pieces so that final prices remain within reach for consumers even as the per-gram rate rises.
“We try to do some R&D on lighter-weight designs. The final price wouldn’t be that high because it’s much lighter,” Ng explained.
She said transparency has been a key part of its business model. Unlike traditional jewellers who may adjust prices differently for each customer, PG Jewel publishes its daily selling and buyback prices openly on its website.
“We want a fair, open transaction with our customers. That’s why we list all our prices on the website. It’s accessible for everyone,” she added.
The company, which started as an online-only player during its early years, continues to leverage live selling and e-commerce to complement its physical expansion. “Both channels help each other. The physical store complements the online business a lot,” Ng said.
On the corporate front, she said, PG Jewel itself will not pursue a direct listing. Instead, its parent Aurora Italia, which is currently listed on the LEAP Market, is exploring a transfer to the ACE Market.
“We are still in discussion. Nothing has been confirmed yet. It’s pre-early stage,” Ng said.
