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Tag: Fashion Island

  • Jay Mart launches Jaycamera chain

    Jay Mart launches Jaycamera chain

    Thai mobile handset distributor Jay Mart plans to spend THB50 million (US$1.4 million) opening up to 10 Jaycamera shops by the end of this year.

    The outlets are forecast to initially draw in revenue of THB800 million, and within three years the company hopes to claim 40 per cent of the camera market for the lead position in Thailand, with revenue of THB4 billion.

    Chief marketing officer Narathip Wirunechatapant says growth potential in the Thai camera market prompted the company to set up the chain, providing mid- to high-range models and accessories. It will focus mainly on mirrorless and digital single-lens reflex (DSLR) cameras in the THB20,000 to THB200,000 range with young people as the target market.

    The main brands are Canon, Casio, FujiFilm, GoPro, Nikon, Olympus and Sony. In May, the chain will start selling upmarket smartphones such as the Huawei P10.

    Jaycamera launched in the Fashion Island department store, with other outlets to follow in Central and The Mall department stores in and around Bangkok.

    Narathip says that by the end of this year the Thai camera market could reach about THB8 billion and the company hopes to gain about 10 per cent of that.

    By the end of 2019, the company says it will have about 50 Jaycamera shops nationwide, and will also sell camera products at more than 200 Jaymart shops.

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  • Pacifica Group plans $11m. expansion

    Pacifica Group plans $11m. expansion

    Thai importer and distributor of 14 fashion brands Pacifica Group plans to expand its free-standing shops from 80 to 140 over three years.

    Costing about Bt400 million (US$11.3 million), the store expansion will be 60 to 70 per cent mass-market fashion brands, with the balance luxury products, says chief executive Opra Lavichant.

    Pacifica’s fashion brands include American Eagle Outfitters, Camper, Coach, Keds and Max Mara.

    “Earlier this year we reshuffled our operations within the group with the buy-out of all minority shares in our subsidiary Pacifica Element, which is in charge of the import and distribution of premium fashion products,” says Lavichant. “The move will allow me and my family 100 per cent control over all subsidiaries.”

    Other subsidiaries include Go Retail, Pacifica Lifestyle and Pacifica Max.

    Lavichant says the reshuffle will also help the company cope with the fluctuating economic situation and the growth of the competitive lifestyle fashion sector.

    “We will focus on store expansion and our imported mass fashion brands because of their tremendous opportunity for growth in the domestic market, both in Bangkok and many first and secondary provinces throughout the country.”

    The group is also looking to expand outside Thailand, he says.

    Under its new three-year business plan, the group aims to increase its sales by 25 to 30 per cent every year, says Lavichant. It also expects its overall revenue to grow from Bt1 billion last year to Bt1.4 billion this year.

    “We expect to double the business for our mass-market fashion brands both in sales and the number of physical stores within the next three years. However, the sales of our luxury and premium products will increase by between 15 and 20 per cent every year.”

    To help growth in the mass-market segment, the company plans to expand its American Eagle Outfitters branches from five stores to between 15 and 20 over the next three years. The latest outlet has just opened at Fashion Island shopping centre in Bangkok, and another will open at Terminal 21 at the end of this year. The plan includes new stores at major tourist destinations such as Chiang Mai and Phuket.

    As well, the group will increase the number of stores selling NYX cosmetics, one of its fastest-growing brands, from 16 to 28 by the end of next year.

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  • Siam Retail building two more malls

    Siam Retail building two more malls

    Thai property developer Siam Retail is building two more Terminal 21 shopping malls – in Pattaya and Nakhon Ratchasima province.

    President Prasert Sriuranpong says the company is investing 6 billion baht (US$170.5 million) in the Pattaya development because it is one of three main tourist destinations outside Bangkok, along with Phuket and Chiang Mai.

    “Pattaya is full of foreign tourists, and the number of arrivals will continue to increase in the coming years,” he says. “Our lifestyle shopping mall will take about two years to complete.”

    Meanwhile, the Nakhon Ratchasima project will be ready before the end of the year. Terminal 21 Korat is near the Mitrapap Highway and is being developed under the “Market Street” concept – themed shopping based on seven world cities, with a sightseeing tower as high as 30 storeys.

    Also costing 6 billion baht, the mall will offer 200,000 sqm of retail space, almost triple the size of Terminal 21 Asoke in Bangkok, which has 70,000 sqm. Anchor tenants include SF Cinema City, The Rink Ice Arena, Fanpekka theme park and Foodland Supermarket. Shops will offer 200 local and international brands.

    Siam Retail plans to spend 100 million baht to promote the mall. Nakhon Ratchasima is considered a gateway to the northeast, with a population of 2.6 million, including more than 50,000 university students. It is also a tourist destination, with more than 5 million visitors each year.

    Siam Retail had revenue of 3.5 billion baht last year, up by 9 per cent from 2014 despite the economic slowdown. More than half the revenue came from Fashion Island, 25 per cent from Terminal 21 Asoke and the rest from The Promenade and Life Center.

    The new malls are part of the company’s 20-billion-baht expansion plan over the next six years. Apart from shopping malls, the company will turn its attention to hotels and property investments in Britain.

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