Central Mega Kencana (CMK) Aggressively Continues The Expansion of The Palace Outlets This Year

CORPORATE STRATEGIC - JAKARTA. PT Central Mega Kencana (CMK), the largest jewelry retail company in Southeast Asia, stated that it continues to actively open new jewelry stores this year.

During her visit to the Kontan.co.id office, Pavita Kumala, the General Manager of Marketing at CMK, explained that this year they will still focus on building new The Palace stores to reach more consumers.

For the Frank and Co. store itself, CMK plans to add 2 to 3 new stores again this year.

"This year we are still focused on developing The Palace. Frank and Co. will also be added about 2 to 3 more stores, for The Mondial, we will open 3 more stores, we have already opened one in Summarecon Bandung last January and later after Eid," she explained to Kontan.co.id, Thursday (7/3).

Pavita continued, they ensure the opening of new stores after considering market conditions and suitable locations for their brands.

Just so you know, CMK oversees three major diamond jewelry brands in Indonesia such as The Mondial, Frank and Co., and The Palace.

The Mondial brand was created to fill the premium jewelry segment that offers sophisticated diamond cuts and unique colors. Currently, CMK has a total of 14 stores throughout Indonesia.

Then, Frank and Co, fills the market segment with high clarity and color quality. This 4C grading is also highlighted from the Frank and Co. brand. Currently, CMK oversees a total of 47 Frank and Co. stores throughout Indonesia.

Meanwhile, The Palace occupies the mass retail market. Currently, CMK oversees a total of 60 The Palace stores throughout Indonesia.

Pavita explained, The Palace brand is the most affordable, complete, guaranteed, and most accessible jewelry in the community.

Its development is taking place in various cities, from Jember, Lampung to Bengkulu.

"Through The Palace, we offer more and complete gold product variants. We provide affordable jewelry starting from Rp888,888 thousand for 18 carat standard," she explained.

Pavita stated that they currently have a total of 120 stores in Indonesia and 1,200 craftsmen. They are still ambitious to develop stores to the Papua and Aceh regions.

"We still want to continue developing to areas that have not been touched," she said.