Jewellery maker Tomei Consolidated Bhd plans to leverage on franchising and joint ventures to speed up the company’s expansion into both the local and overseas markets, its managing director Ng Yih Pyng said.
He said the company was in talks with some local and Vietnamese companies to sell Tomei’s products through the franchising concept with RM1.5 million to RM2 million required as start-up capital.
“We are in the midst of finalising our groundwork and we are actively talking to some parties who are interested,� he told reporters after the listing of Tomei on the Second Board of Bursa Malaysia on July 12.
“It might be (realised) towards end of the year or early next year,� Ng said. He said apart from franchising, Tomei would consider forming joint ventures for overseas expansion.
Tomei has a 7% share in the local jewellery market, which was valued at RM2.3 billion in 2005, Ng said.
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