Retail News CRM

Author: Mei Ling Tan

  • The Mall Group plans further expansion

    The Mall Group plans further expansion

    Despite a tougher retail market, The Mall Group in Thailand plans to expand this year, allocating 5 billion baht (US$139.8 million) for new projects and upgrades.

    CEO Phaibul Kanokvatanawan says this includes 800 million baht pegged for a new building behindThe Mall Bang Khae.

    Parking will also be increased to 3800 spaces from 3000, and the remaining 4.2 billion baht will pay for an extension of two malls in Nakhon Ratchasima, scheduled to open soon. After relaunching its Korat project in September, total space at the complex will be 200,000 sqm.

    Two billion baht will be spent on developing Blue Port, the group’s latest retail project in Hua Hin. About 80 per cent complete, this project is scheduled to open in October, earlier than planned.

    Part of the budget will be allocated renovating The Mall Bang Kapi to respond to the rapidly changing customer profile of the area.

    While competitors have expanded their retail complexes on Rama IX and Ekamai-Ram Intra, including Crystal Park Phase II, Central East Ville and Show DC, Phaibul is optimistic, saying his company will thrive by both catering to core customers across a complete range of products and fostering brand loyalty.

    However, the spending power of Thai consumers has not improved despite heavy consumption at the end of last year sparked by a government tax break, he says. Also, overseas tourist levels are back to normal at Siam Paragon, The Emporium and EmQuartier since the Lunar New Year holiday.

    “We want the government to speed up the airport extension to attract more tourists to Thailand.”

    Phaibul says the company expects sales growth of 5 per cent to 52 billion baht this year.

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  • Indonesia could block internet services

    Indonesia could block internet services

    Indonesia is the latest country to question the tax arrangements of the world’s internet giants, issuing a threat to block their services if they fail to comply with local set-up requirements and pay tax.

    “All have to create a permanent establishment, like the contractors for the oil sector, so they can be taxed,” stated Bambang Brodjonegoro, the finance minister, although the Jakarta Globe reported that he did not name any particular businesses.

    According to Communications Ministry estimates, digital advertising was worth around $800m last year but was untaxed because of the loopholes in regulations.

    A spokesman for the Ministry said that imminent new regulations would address this issue and would apply to streaming and messaging providers as well as social media websites.

    Indonesia is one of the most social media-connected countries in the world. It is Facebook’s fourth-largest market target, while Jakarta is the most active city for Twitter – Jakartans account for 2.4% of all tweets worldwide.

    Accordingly, major brands are looking to tap into this high level of digital social engagement while local entrepreneurs have been able to use social networks as an inexpensive platform to build their brands and do business.

    But these activities could be at risk if the government carries out its threats: the Communications Ministry spokesman, Ismail Cawidu, indicated that those internet businesses that did not comply with the new regulations faced a reduction in bandwidth or, in extremis, being blocked completely.

    While some of the businesses potentially affected have already set up legal entities in Indonesia, others only have representative offices.

    And even those, such as Google, that do have a properly constituted business may not be immune from government scrutiny.

    “Google has an office in Indonesia, but digital age transactions do not go through that office,” Communication Minister Rudiantara told Metro TV. “That is what we’re looking to straighten out,” he added.

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  • Philipp Selva Japan opens Aoyama store

    Philipp Selva Japan opens Aoyama store

    Upmarket furniture design house Philipp Selva Japan has opened a dedicated store in Tokyo.

    Located in the Aoyama quarter, one of the city’s most elegant residential areas and home to high-fashion brands and architectural firms, the high-end store is surrounded by residences of its target customers.

    Philipp Selva at Aoyama Japan

    The Philipp Selva showroom features exclusive home furnishings and accessories with  a contemporary slant.

    Philipp Selva at Aoyama Japan 4

    Italian-headquartered Philipp Selva describes his designs as a “total living luxury concept”.

    “It is not a collection but a lifestyle concept, which is the protagonist of the most exclusive spaces; a concept that expresses through its products the sophisticated and perfectly balanced taste of deeply rooted craftsmanship, backed by almost 50 years of experience, always in step with a continuously evolving market,” the designer explains on his website.

    Philipp Selva at Aoyama Japan 1

    Philipp Selva at Aoyama Japan 2

     

    “Continuous research is one of the strong points of Philipp Selva, which distinguishes itself thanks to a unique concept that lends a discreet total living luxury mood to all spaces.”

    Philipp Selva at Aoyama Japan

    The brand was founded in 1968 and exports its furniture to more than 50 countries.

    Philipp Selva at Aoyama Japan 3

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  • Victoria’s Secret to Open First Full Retail Lingerie Store in China

    Victoria’s Secret to Open First Full Retail Lingerie Store in China

    Good news to all fashionitas out there! Premium lingerie brand Victoria’s Secret has announced that it will be launching its first full retail store in the mainland, offering its well-known bras and panties, its China-based office told China Daily.

    The firm is set to open a 1,475-square meter boutique at Lippo Plaza – the former house of one of Louis Vuitton’s four retail outlets in Shanghai. The lingerie shop is anticipated to make its debut by the end of the year. However, according to an insider, specific details have not been confirmed as the opening date largely depends on when the customs clears the company’s entire collection.

    Since last year, Victoria Secret’s parent company L Brands has opened 20 stores across the mainland including one in Shanghai, Guangzhou and Chengdu. But, these outlets are all advertised as “Victoria’s Secret concept stores,” with only accessories and beauty products such as shampoos, perfumes and canvas bags available.

    The insider revealed that although the company remains cautious of selling its prime products in China, L Brands will continue to widen its concept outlets in more cities.

    Despite plummeting sales in the luxury goods industry, the lingerie market has been experiencing soaring sales, with a double-digit growth rate. According to Frost and Sullivan, a consultancy firm, the lingerie market in China will reach approximately $240 million by the end of the year.

    Experts predict that apart from bags and shoes, tremendous amount of money will be splurged on intimate apparels as the spurring growth of the middle class will start bragging of their new wealth.

    Victoria’s Secret is globally known for its annually televised fashion shows. But those lacy apparels, which the company allocates millions to market with top models, are apparently only available in three countries, namely, Canada, the United States and the United Kingdom.

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  • China duty free push

    China duty free push

    Nineteen inbound China duty-free shops have opened to serve domestic travellers returning home.

    The state’s Ministry of Finance announced the stores have been built in 13 airports including Guangzhou Baiyun, Hangzhou Xiaoshan and Qingdao Liuting, as well as six sea ports.
    Passengers can carry up to 8000 yuan ($1230) worth of duty-free goods, up from the previous 5000-yuan limit, when clearing customs, the ministry said, claiming that the shops feature more products than existing inbound duty-free outlets.

    Isetan Mitsukoshi Holdings says its stores served about 50 per cent more international duty-free shoppers from February 7 to 13 compared with the same holiday week last year, thanks to a spike from mainland China – but customer spend was 15 per cent less this time.

    Visitors from mainland China doubled to five million, helping Japan’s overall tourist numbers reach nearly 20 million – a target the government had hoped to achieve by 2020.

    Shopping by Chinese tourists at department stores and electronics shops last year created a buzzword, “bakugai”, or “explosive buying”, and came as a boon for Japanese retailers smarting from decades of sluggish demand from domestic consumers. However, China’s economy has since sagged to a 25-year low, with stock markets slumping mid-year.

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  • Filipino supermarket giant comes to Canada

    Filipino supermarket giant comes to Canada

    A prominent Filipino supermarket announced its entry to the Canadian soil, thanks to the ever growing number of Filipino population in the Americas. Seafood City Supermarket, one of the biggest supermarkets in the Philippines announced that it would open the first grocery store in the country early next year.

    Mildred Smith, the marketing manager for Seafood City Supermarket said, “Whatever culture you belong to, everybody eats seafood.” Apart from Filipinos, the newly proposed supermarket intends to lure in people who has a  love  for international cuisine as well. Seafood  City supermarket has almost 22 store in America along with some other nearby locations like West Coast and Hawaii.

    One could find fresh ingredients for cooking Filipino and pan Asian dishes in the new supermarket. The first store would open at Heartland Town Centre in Mississauga, Ont., in the first quarter of 2017. The Canadian Seafood City Supermarket will include a Grill City, a Filipino barbecue fast-food joint, and a Crispy Town, which sells fried Filipino snack food.

    In 2011, more than 662,000 Filipino people lived in Canada, according to Statistics Canada’s 2011 national household survey, making up about five per cent of the country’s population. In 2014, the Philippines pushed ahead of China and India as Canada’s top source country for immigrants, according to the federal agency. The Greater Toronto Area and Vancouver are home to the largest Filipino communities in Canada. There are also reports that one of the major fast food chains in Philippines,  Jollibee would also come to Canada later this year. The food giant which has more than 750 stores in the Philippines serves burgers, noodles and rice meals.

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  • Losses force Esprit to downsize

    Losses force Esprit to downsize

    Following a first half loss of HK$238 million (US$30.6 million), fashion retailer Esprit plans to prune unprofitable outlets while improving productivity.

    “In the very short term, we will continue to see the closure of unprofitable spaces from our retail store network and our wholesale partners’ points of sale,” the company says in its interim results announcement. It expects these actions will help group turnover remain stable although it may be reduced.

    During the six months, the company posted a 13 per cent dip in sales to HK$9.31 billion. It says the losses are partly the result of the unfavourable impact of the euro depreciating against the Hong Kong dollar.
    With a loss per share of 12 cents, the directors did not declare an interim dividend.

    Meanwhile, the company has seen positive retail sales growth through both online and offline channels, particularly in Europe. Its challenges lie in its wholesale business, currency risks and lower performance in Asia.
    It says the underperformance in the Asia-Pacific region was partly attributable to a combination of volatility in the financial markets, the economic slowdown in China and the devaluation of the yuan, which significantly dampened consumer sentiment.

    Esprit’s largest geographic market, Germany, had HK$4.44 billion turnover, representing year-on-year growth of 1.5 per cent. For the rest of Europe the turnover of $3.38 billion was down from $3.92 billion of the previous year’s second half. Turnover in Asia Pacific amounted to $1.42 billion, a year-on-year drop of 6 per cent.
    Esprit says it faces challenges ahead with volatility in the financial markets and economic uncertainty that could further dampen consumer sentiment, especially in Asia. And if the euro continues to be weak, it would put pressure on the group’s gross profit margin.

    Meanwhile, the group is expecting an estimated net gain of about $725 million from the sale of six wholly owned property subsidiaries in Hong Kong, a deal finalised in December. Once the sales is settled, the group plans to lease back most of the properties.

    Also the group has introduced efficiencies in its product development and supply chain processes, as well as developing a “more ambitious” commercial strategy using an omnichannel model. It has been using an intensive brand-marketing campaign since September to strengthen and rejuvenate its image.

    Already it has seen positive sales performances, plus increased customer loyalty and better online and mobile sales.

    “Driving these productivity gains further remains our top priority in the near term,” says the company, noting an increase to 49 per cent of eCommerce sales by mobile devices and a 92 per cent growth in smartphone sales.

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  • Mall of Qatar wins award at Asia Retail Congress

    Mall of Qatar wins award at Asia Retail Congress

    Mall of Qatar has won the Retail Leadership Award in the real estate category at Asia Retail Congress 2016 held recently in Mumbai, India.

    On behalf of Ramez al-Khayyat, managing director of UrbaCon Trading & Contracting (UCC), the award was received by Siva Kumar, estimation and proposal director of UCC, and Patrick Hage-Chahine, PR and events manager at Mall of Qatar.

    “Being developed by UCC’s Doha branch, this super-regional mall spread over 5.4mn sqft of area combines incredible shopping with captivating live entertainment and leisure options,” according to a statement. “An innovative and inspiring architecture, easy accessibility, fascinating new live entertainment concepts and signature restaurants will all capture the imagination of the nation when the Mall of Qatar opens its doors in the third quarter of 2016.”

    The Asia Retail Congress recognises best practices in the retail industry across categories such as fashion, consumer durables, mobile & telecom services, food, travel & hospitality, health and real estate.

    Speaking on the occasion, al-Khayyat said: “We are privileged to receive this esteemed recognition from the Asia Retail Congress. This recognition provides a great incentive to continue our journey to provide best-in-class services and create new benchmarks in the retail industry.

    “One of the major distinguishing architectural features of the Mall of Qatar is the 30m-high, 6,000sqm glassed dome roof that illuminates a captivating central arena called The Oasis, which will become the heart of the project. The Oasis will host live entertainment shows performed daily on a revolving circular stage, set in a pond surrounded by interactive dancing fountains.”

    Expected to receive a footfall of 20mn customers annually, the Mall of Qatar will feature 7,000 underground and surface car parking spaces, 500 shops, including over 100 restaurants, and a 19-screen cineplex, as well as a 200-bedroom luxury and fashion hotel operated by Curio, a Collection by Hilton, the statement adds.

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  • Korean department stores struggle

    Korean department stores struggle

    Chinese travellers have emerged as one of the few bright spots for Korean department stores suffering from dull domestic consumption.

    The arrival of a new demographic of consumers has prompted an all-out fight to attract deep-pocketed clients, industry officials told Yonhap.

    Sales at department stores inched down 0.4 per cent on-year to 29.22 trillion won (US$23.69 billion) in 2015, Statistics Korea showed, mostly attributable to the Middle East Respiratory Syndrome (Mers) outbreak and rapidly rising online marketplaces.

    While consumption among locals has steadily slowed over the past years, major department stores in downtown Seoul saw growing sales among Chinese nationals.

    At Lotte Department Store in the famous shopping district of Myeongdong, sales by Chinese customers accounted for 18.1 per cent of the total, rising 6.8 per cent from a year ago.

    At the nearby Shinsegae Department Store, sales by Chinese customers rose 21.8 per cent in 2015 from a year ago, though the pace slowed from 131 per cent in 2014 and 87 per cent in 2013 in the wake of the Mers outbreak. The store did not release exact sales figures.

    Foreign luxury watch and jewellery brands topped their shopping list, while leading Korean fashion and cosmetic brands were also picked up by Chinese travellers.

    Among them, the Seoul-based luxury bag manufacturer MCM was the second-most selling brand by the Chinese, while sunglass brand Gentle Monster and Amore Pacific’s high-end cosmetic lineSulhwasoo were named as popular items.

    “While the Chinese mostly preferred foreign luxury brands and local cosmetic brands, a wider range of Korean products have been selling among Chinese customers,” said Park Young-hwan, a marketing official at Lotte Department Store.

    In response to the changing consumption trends, Korean department stores have launched a variety of promotional events through social networking services and invited China’s popular bloggers to embrace rich Chinese customers.

    Some stores have even assigned assistants for VIP customers to provide guidance while they shop. Others have offered limousines and pick-up services.

  • Lotte Group in Indonesian confectionery push

    Lotte Group in Indonesian confectionery push

    South Korean confectionery manufacturer Lotte Group is planning an eCommerce joint venture with one of Indonesia’s largest conglomerates, the Salim Group, within the next few months with the aim of being up and running by early next year.

    This follows a new government policy on eCommerce that opens up a market of nearly 250 million people to foreign brands. According to the Korean media, the deal was formalised when Lotte Group chairman Shin Dong-bin met with Salim Group chairman Anthony Salim in Singapore during an Asia Business Council meeting.
    Under Shin, Lotte has been aggressively expanding its overseas businesses, and the Indonesian confectionery market is considered a key strategic opportunity, reports Deal Street Asia. The company hopes to secure a strong foothold in the eCommerce market through an omni-channel retailing strategy and establishing a stable delivery service via the partners’ offline stores.
    Also planning to introduce products popular in Korea, Lotte first became involved in the Indonesian market in 2008 when it acquired 10 stores of the Dutch discount chain Makro. Lotte has one department store in Indonesia and 41 retail outlets, while Salim Group has 11,000 Indomartconvenience stores. The Salim Group’s businesses cover such sectors as food, distribution, telecommunications, media, automobile manufacturing and property development.

    An eCommerce roadmap has been drafted by the Indonesian government as a basis for guidelines regulating the sector. It covers such aspects as funding, taxation, communication infrastructure, logistics, cyber security, consumer protection and education, with the aim of achieving eCommerce transaction value of $130 billion by 2020.

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  • Singapore’s Sun Electric begins solar power distribution

    Singapore’s Sun Electric begins solar power distribution

    Providing an environmentally friendlier alternative to power generation fired by coal or natural gas, home-grown Sun Electric kicked-off its first live distribution of solar power today (Feb 29) to local businesses. The solar power is distributed through Singapore’s power grid and supplied by solar energy generators installed in collaboration with JTC Corporation (JTC) and SPRING Singapore.

    The first solar energy company to obtain an electricity retail license in Singapore – Sun Electric also launched an array of clean energy products under SolarSpaceTM, a platform that enables consumers in cities to buy solar energy even if they do not have a roof of their own to install solar panels.

    “Our programme was developed to change the way cities obtain energy, and to allow cities to harness clean energy that can be obtained from their environment. Smaller consumers of energy such as SMEs can now do their part for the environment and sustainability by adopting clean energy,” Dr Matthew Peloso, CEO of Sun Electric said at a press conference attended by Mr Loh Khum Yean, Chairman of the Energy Market Authority (EMA).

    The programme, Dr Peloso said, allows rooftop owners to capture sunlight striking their roofs, and sell it to energy consumers in their city. Rooftop owners can install solar panels and generate energy while tracking their contributions to their city in real-time, and customers who buy the energy can monitor their usage easily on Sun Electric’s platform. This means that a city can now blend in solar energy as a component of its power supply with various consumers, the company said in a media release.

    Previously, only building owners who bought energy themselves could use solar power. Now, building owners can install solar energy generators on those rooftops while energy consumers who do not own rooftops can buy clean energy from them. “This system harnesses the power and connection of people who can put this city on a sustainable footing. This system requires no subsidies, and allows any competitive and open energy market to adopt solar energy,” Dr Peloso noted.

    Dr Peloso also announced the launch of Sun Electric in the USA, Japan, Australia, and the Philippines with “strategic partners abroad”.

    “By the second half of 2018 we aim open the electricity retail market to full retail competition. This will empower the remaining 1.3 million small consumers, mainly households , with more option on how to better meet their electricity needs,” Mr Loh Khum Yean, Chairman of the Energy Market Authority (EMA).

    Market interest in clean energy, Mr Loh said, has been growing significantly in Singapore where the total installed solar PV capacity has increased from 1.5 megawatt in 2009 to 43.8 megawatt by end 2015, enough to power around 14000 four-roomflats a year. “We expect the strong growth of solar to continue as technology improves and cost goes down… The demand for Cleantech solutions is growing both locally and overseas. This presents business growth opportunities not just for established companies but also for SMEs,” Mr Loh added.

    The company said, its portfolio of products including – SolarFlexTM, SolarLiteTM, SolarPeakTM and Solar100TM offer tailored electricity packages according to the percentage of clean energy required by individual consumers.

    Seven local companies including The Chope Group, Sky Tower on Sentosa, Pilatique, Seagift, Lotto Carpets Gallery, Absolute Living, and Duta Holdings, are the first set of clients receiving electricity from the solar energy generators installed on JTC rooftops in Tuas South under the test-bedding programme.

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  • Glashutte Original expands in Asia

    Glashutte Original expands in Asia

    German watchmaker Glashutte Original is rapidly building its network of Asian boutiques as it tries to build its share of global luxury watch sales.

    During the last three months, Glashutte has opened three new stores in Asia, including its first in Southeast Asia inside The Shoppes at Marina Bay Sands in Singapore.

    Glashuette Singapore MBS

    “The fine art of German watchmaking has its friends all over the world.  With the opening of not three new boutiques in Asia, Glashutte Original has added impressive strength to its presence, bringing even more of its manufactory art to China and Singapore,” the company said in a statement.

    The boutique at AMP in Wangfujing Rd in Beijing is the latest of the new stores as the brand continues to execute its international expansion strategy. Only at the end of December, the Saxon-based manufacturer opened its first in the city, in the popular Beijing SKP.

    “All three new boutiques offer a warm welcome to international connoisseurs of fine watches:  in keeping with the brand concept they offer visitors a world of experience that takes them straight to the heart of the German art of watchmaking.

    “Carefully chosen materials, stylish interiors and a contemporary environment present an essential expression of the brand DNA.”

    The Wangfujing Rd boutique, at 147 sqm, is the largest of the brand’s five Chinese retail stores.

    A watchmaker on the premises offers information and insights into his centuries-old art and puts his knowledge and experience to good use in answering any questions customers may have. Also awaiting customers is a luxurious lounge area that enhances the visual, emotional and individual experience of the visit, along with an interactive presentation allowing each visitor to explore in depth, using a touch-screen, the fascination of Glashutte Original.

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  • South Korea’s card spending jumps 16 pct in Jan.

    South Korea’s card spending jumps 16 pct in Jan.

    South Korea’s card spending rose sharply in January, data showed Friday, on the back of increased consumption for the Lunar New Year holiday and a gradual recovery in domestic demand.

    Purchases made with plastic cards reached 56.1 trillion won (US$45.4 billion) last month, up 15.9 percent from a year earlier, according to data compiled by the Credit Finance Association (CREFIA).

    The data includes transactions on credit, debit and prepaid cards. Cash advances, overseas spending and card loans were not included.

    Of the amount, credit card spending went up 15.9 percent on-year to 44.79 trillion won, while those of debit cards advanced 16.2 percent to 11.2 trillion won over the cited period, according to the data.

    “This year, the new year holiday started earlier than last year, which mainly led to the growth in January’s credit card spending,” a CREFIA official said.

    The retail sector, including department stores and big retail chains, enjoyed a 20.4 percent surge in credit spending on-year to 6.7 trillion won, the data showed.

    In particular, purchases made by credit cards in convenience stores spiked 56 percent thanks to the increase in small families and the solid growth in sales of their private-brand products, according to the association.

     

  • Wanda said to plan massive retail-leisure project near Paris

    Wanda said to plan massive retail-leisure project near Paris

    Chinese billionaire Wang Jianlin’s Dalian Wanda Group Co. plans to invest billions of euros in a retail and leisure development outside of Paris, Bloomberg reports, citing people familiar with the matter.

    Wang said at the University of Oxford on Tuesday that Wanda would announce a “major deal” this week, though he didn’t provide details.

    The project, known as EuropaCity, will be built in Gonesse, a town 16 kilometers northeast of Paris, between Le Bourget and Charles de Gaulle airports, according to a website for the property.

    For Wanda, which runs theme parks across China, movie theater chains in the United States and a soccer club in Spain, the move represents a renewed overseas push, underscoring Wang’s increasingly global ambitions.

    The conglomerate agreed in January to buy “Godzilla” producer Legendary Entertainment for US$3.5 billion, paving the way for the tycoon to become the first Chinese person to control a Hollywood film company.

    Construction on EuropaCity is slated to begin in 2019, with the project opening in 2024, according to the website.

    The development, being built by property company Immochan, will include a theme park, shopping center, water and snow parks, sports fields, performance spaces and hotels, according to the site.

    Immochan is the development arm of Groupe Auchan, a family-owned supermarket operator. A spokesman for Immochan declined to comment.

    Wang, who is estimated by the Bloomberg Billionaires Index to be worth US$27.2 billion, told executives in January that visitor arrivals and revenue at Wanda’s tourism projects in Wuxi and Guangzhou will beat those of Disneyland in Shanghai and Hong Kong, respectively.

    Besides the Legendary deal, Wanda announced a US$2.3 billion investment in three hospitals, the formation of a financial group and the signing a US$10 billion development deal in India.

    In addition, Wanda has said it’s planning five major acquisitions in 2016, three of them overseas.

    Separately, the group’s Wanda Cinema Line Co. theater chain unit was suspended from trading in Shenzhen on Wednesday pending the announcement of an acquisition.

    The Wall Street Journal reported that the group is seeking to raise US$1.5 billion from domestic Chinese investors for its closely held film-making Wanda Pictures subsidiary.

    While Wang’s investments in Europe include the Club Atletico de Madrid soccer team and Swiss marketing firm Infront Sports & Media AG, Wanda’s culture-and-entertainment business has a relatively smaller presence in the region than in China.

    Wang’s film, tourism and sports operations all fall under Wanda’s fast-growing Cultural Industry Group, which saw revenue climb 46 percent last year and is forecast to climb 30 percent in 2016.

    By comparison, Wanda Group estimates overall sales rose 19 percent in 2015 and will probably decline 12 percent this year because of the slump in its property business.

     

  • Royal Enfield opens retail store in Bangkok

    Royal Enfield opens retail store in Bangkok

    Royal Enfield launched its retail operations in Thailand with an exclusive store in Thonglor, Bangkok, Wednesday, Feb.24. Royal Enfield’s first retail store in Thailand has been set up in partnership with General Auto Supply Co. Ltd.

    The 3,685 square feet retail outlet located at 842 SoiSukhumvit 55 (Thonglor), Sukhumvit Road, KlongtanNua, Wattana, Bangkok, is a full-service dealership and will provide aftermarket service to the buyers. The new store will sell the Bullet, world’s oldest motorcycle in continuous production since 1932, for Thailand Baht 179800 for 500cc, which is approximately Rs 3.45 lakh. The range of motorcycles includes the Classic 500, Classic Chrome and the Continental GT 535cc cafe racer.

    “Royal Enfield is today one of the most profitable automotive brands in the world and we believe that our future growth will come from our international markets such as Thailand where motorcycles are a popular medium of commuting. Our phenomenal success in India gives us the confidence to thrive in similar markets like Thailand and Indonesia, which will play an instrumental role in fuelling our growth in Asia,” Arun Gopal, international business head, Royal Enfield, said in a statement.

    Royal Enfield announced its entry into Thailand, the fifth largest two wheeler market in the world in December 2015, at the Thailand International Motor Expo.

    With a target to become a global leader in mid-sized motorcycle segment, Royal Enfield has been expanding its global footprints across UK, Europe, Latin America, Middle-East and now in South East Asia. In 2015, the company sold over 4.5 lakh motorcycles across the globe and also announced its plan to produce upto 9 lakh motorcycles by end of 2018, from two of its existing manufacturing facilities and a third upcoming facility near Chennai.

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