Aussie retail giant Harvey Norman plans significant brand expansion in Malaysia
Australia’s largest commercial advertiser Harvey Norman will supercharge its brand presence in Malaysia with plans to open 52 new stores over the next six years.
Harvey Norman believes there is a significant opportunity to grow the brand inMalaysia
The whitegoods and electronics retailer, which currently operates 28 stores across the country, has outlined its significant expansion plans after identifying Malaysia as a “thriving post-covid economy”.
Harvey Norman’s Malaysian sales revenue increased 38.4% for the three months to October 31 this year, compared to the same period in 2021. The numbers showed a significant increase compared to Australian sales, which grew 9% year-on-year for the quarter.
The expansion plans will see the retailer operate 80 stores across the country, including stores in Sabah and Borneo, by 2028.
Harvey Norman CEO Katie Page said there is a “significant opportunity to increase the Harvey Norman brand in Malaysia”.
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“We have an experienced team in place in Malaysia with extensive retail experience and tenure with our brand to deliver the Malaysian expansion plans over the next 6 years. This highly-skilled local team will bolster the infrastructure required to deliver the growth opportunities in areas such as IT, warehousing, property, finance, HR and marketing.”
Harvey Norman opened its first store in Kuala Lumpur in 2003 as part of its international expansion. The Australian retailer now operates 109 overseas stores in countries including Singapore, New Zealand, Slovenia, Croatia, Ireland, Northern Ireland and Malaysia.