Harvey Norman Expands Footprint in Malaysia

May 2019

Australia-based MNC retailer of furniture, bedding, computers, communications and consumer electrical products, Harvey Norman has opened a new outlet in Miri, Sarawak on the third of May, with hundreds of special deals and promotions accompanying the launch. According to the Managing Director, the new space covers 40,000 sq feet with products ranging from electrical and electronics to bedding and furniture.

The location in Miri will be the second outlet across the South China sea – the first was based in Kuching in 2017. Currently, the company has more than 280 stores across eight countries with 17 outlets in Malaysia, including its flagship store at the IPC shopping center in Selangor. It also operates an online platform which was established in 2015.

This latest store is part of an aggressive expansion plan of retailer, aiming at opening four more stores in the second half of 2019 in Tebrau and Southkey (Johor), Ipoh and Kota Baru. Furthermore, Harvey Norman is looking at additional locations in Sabah and Sarawak with a planned outlet in Kota Kinabalu. Its parent company in Australia is expanding with nine new stores in 2020 and 50 Malaysian outlets by 2023.

According to their latest figures, sales revenue performance from Harvey Norman Malaysia stood at USD 152.33 million for FY2018, up 10.5% from USD 137.89 million in the previous year. Malaysia is the company’s best performing country in the region and is expected to be Harvey Norman’s biggest source of growth in South East Asia.

(Sources: The Star)

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