Swarovski: Malaysian market causes optimism

Austria based-Swarovski is optimistic about the Malaysian market“s potential for loose cut crystal components, caused by the fact that demand among business partners and the general public remains in…

Austria based-Swarovski is optimistic about the Malaysian market“s potential for loose cut crystal components, caused by the fact that demand among business partners and the general public remains intact despite the global economic crisis. “Besides, with the rising Malaysian population that loves glam and sparkles, we are confident of the market share here,” said Anna Hoetzeneder, country manager for South East Asia, Crystal Components Business, in a recent interview. According to Hoetzeneder, the Malaysian market has the largest potential and is the strongest market among the South East Asia region for the Crystallized-Swarovski Elements product brand, used, among others, by luxury footwear designers Lewre Premiere and Jimmy Chia Luxury, fashion designers Melinda Looi and Eric Choong as well as by electronic company Sony Malaysia. “The purchasing power for luxury products among Malaysians is increasing. Demand is increasing from our local and international partners in Malaysia, particulary from top designers that carry our Swarovski elements in their own products,” she added. Ms. Hoetzeneder also said that Swarovski was expecting more partners to emerge from among the textile and accessories industry in Malaysia, and that the business potential for the product brand is growing in the region. “We see positive developments despite the challenging times faced and in the last three years customers from various segments are inspired to use the components. South East Asia is an emerging market for Swarovski. With growth and demand both recording double digit growth per annum over the last three years, it certainly opens more business angles for Swarovski,” Ms. Hoetzeneder added.