Luvenus taking off overseas
Luvenus already has an outlet in Changi Airport Terminal 2, and is talking with other airports in Asia Pacific and the Middle East.
“We are looking to expand more into the travel retail industry since we are already well equipped with our experiences and credentials in Changi Airport,” says founder/MD Parthiban Murugaiyan.
“Eventually, we want to be the Charles & Keith of the gold jewellery industry. That’s our vision, and I think it is very much achievable as we expand.”
Luvenus opened its third store in Singapore last month, at Serangoon’s Nex shopping mall.
To cater to customers at the suburban mall, Luvenus focussed on jewellery with simple designs suitable for daily wear.
It is also looking to launch an eCommerce platform in next few months, which Murugaiyan regards as a “pulling factor” to help drive traffic to its stores.
“Apart from showcasing our products, our eCommerce platform will have a virtual try-on function for customers… but we know buyers of gold still want to be able to physically touch and feel the jewellery so the eCommerce site will just be a platform for them to browse and lure them to our stores,” says Murugaiyan, who won the New Entrepreneur Award by the Association of Small and Medium Enterprises (ASME) and the Rotary Club of Singapore in 2014.
Luvenus specialises in 22-carat gold jewellery, while other Hong Kong retailers focus mainly on 24-carat gold, which is generally considered too soft for intricate jewellery designs.