Tomei to close ‘My Diamond’ brand

KUALA LUMPUR: After a year where its earnings slumped 70% on a lower sales volume and profit margin, Tomei Consolidated Bhd is now looking to focus on its core brands — its namesake “Tomei” and its niche product brand “Goldheart” — amid the “tough” market it finds itself in.

In line with that, it has decided to do away with its “My Diamond” brand by the third quarter of this year, which will result in the closure of the remaining four stores under the brand, after having trimmed the number from the six that were listed in the group’s 2018 annual report.