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Tag: Index Living Mall

  • Index Living Mall opens again in Indonesia

    Index Living Mall opens again in Indonesia

    Thai home furnishings retailer Index Living Mall Co Ltd has opened a new store under a partnership with Indonesian-based CT Corp in Jakarta.

    s in PT Retail’s Transmart Carrefour complex in the city’s CempakaPutih district. It covers 2,500 square metres of retail space.
    The company’s president and CEO Pisith Patamasatayasonthi said that the company expects to open as many as five to 10 stores next year and annually until 2020 in Indonesia.

    Shafie Shamsuddin, president director and CEO of PT Trans Retail Indonesia, said: “This strategic partnership is expected to provide added value for Indonesian consumers with more and more sophisticated choices of furniture products at Index Living Mall that are integrated in one area with Transmart Carrefour.

    “Surely this will provide a trend of positive and complementary consumer spending needs between Transmart Carrefour and Index Living Mall as well as we help to provide place and space for local products to partner with us.”

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  • Index Living Mall unveils new store concept in Bangkok

    Index Living Mall unveils new store concept in Bangkok

    Index Living Mall has unveiled its next retail concept in Bangkok’s Ekkamai district, with a focus on apartment furnishings, fresh graphics and new store layout.

    Called ‘ Fresh-up Ekkamai, lift-up your life’, the concept introduces new zones and features a variety of new-to-market homewares and furniture items.

    The “Condo Collection” zone presents furniture specially designed for condominiums, while the “Younique” zone offers customized furniture. Other zones include a Sofa & Recliner Exhibition, Outdoor life and Storage Solutions & Home Organisation.

    Index Living Mall MD, Kridchanok Patamasatayasonthi, said the store’s renovation was undertaken because Ekkamai is becoming a popular residential neighborhood, with multiple condominium units rented to both locals and foreigners.

    The new concept store will suit shoppers with tight budgets who are seeking functional items for compact living spaces.

    Index Living Mall’s Ekkamai store also offers customers free consultations with in-house specialists.

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  • Aeon to shut down Index Living Mall Malaysia stores

    Aeon to shut down Index Living Mall Malaysia stores

    Aeon Co (M) Bhd’s net profit plunged 64.5% to RM9.79 million for the second quarter ended June 30 compared with RM27.55 million in the previous corresponding period, due to the recognition of impairment loss on investment in its associate company Index Living Mall Malaysia Sdn Bhd (ILMM).

    Its revenue however, rose 5.4% to RM1.06 billion from RM1.01 billion.

    Aeon said in a filing with the stock exchange that ILMM will be closing down the remaining of its furniture outlets in Malaysia by the third quarter of 2018. The outlets are located at Aeon Shah Alam and Kota Baru, IOI City Mall, Putrajaya as well as Aeon Mall Tebrau City, according to its website.

    “As such, for the second quarter result, the company has recognised the impairment loss on its investment in the associate company which amounted to RM8.01 million and also share of its year-to-date operating loss which amounted to RM13.7 million.”

    ILMM is a 49:51 joint venture company between Aeon and Index Living Mall Company Ltd which was incorporated in Thailand.

    Aeon said the outlet closures are expected to reduce its earnings per share and net assets per share by about 2 sen for the financial year ending Dec 31.

    For the first six months of the year, the group’s net profit contracted 29.8% to RM37.73 million from RM53.75 million on the back of a 4.4% rise in revenue to RM2.18 billion from RM2.09 billion.

    Looking ahead, Aeon said the sales and services tax implementation will have an impact on consumer spending and product pricing.

    “With such outlook, the board expects the performance for the current year to remain challenging.”

    For the retail business, the group said it will continue to refurbish its selected stores and employ appropriate marketing and pricing strategies.

    Meanwhile, Aeon foresees the occupancy and rental rates for the property management services to remain stable and sustainable.

    Aeon’s share price closed unchanged at RM2.10 on 590,400 shares done.

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  • Purecare Announces International Partnership With Index Living Mall

    Purecare Announces International Partnership With Index Living Mall

    North American bedding retailer PureCare has announced a partnership with home furnishings retail chain store Index Living Mall.

    Index Living operates 28 locations in Thailand out of 114 stores throughout the Southeast Asia region. It is the largest network of home goods retail stores in Thailand. It will carry a curated collection of PureCare’s bed linens, mattress protectors and pillows from this summer through to autumn this year.

    Ralph Rosen, PureCare’s VP of business development, said: “Both of our companies are committed to offering the very best quality and value to today’s health-conscious consumers and allergy sufferers.

    Our international product and sales team worked closely with their merchandising team of professionals to come up with a specific selection of products that augmented and enhanced Index Living Mall’s current retail offering.”

    President and COO of PureCare Jeff Bergman said that by partnering with PureCare, Index Living Mall has embraced what it envisions as a growing global movement of health and wellness in the ‘top of bed’ category.

    Index Mall’s VP product development Pichapim Patamasatayasonthi added: “This year Index Living Mall aims to become the total “sleep solution center” for our customers. We offer ‘PureCare’ one of the leading innovative brands in the world from the USA now to the Thailand market.”

    PureCare has previously expanded into Canada, Russia, Australia, New Zealand, the UAE, Central America and the Caribbean.

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  • Index Living Mall sets plan for Asean market

    Index Living Mall sets plan for Asean market

    Thai home-furnishings manufacturer and retailer Index Living Mall has set a strategic plan to open at least one store in a new Asean market every year.

    The company expects the sales contribution from Asean countries to increase significantly from the 6 to 7 per cent estimated for this year to 10 per cent within three years.

    MD Kridchanok Patamasatayasonthi says the expansion is in line with its vision to be the No. 1 player in Southeast Asia in terms of brand awareness in its segment.

    In Thailand, Index Living Mall opened a branch in Nakhon Pathom in February with 7500 sqm of retail space, and another store will open in Chachoengsao next month covering 5500 sqm.

    “We also plan to open another store in Bangkok next January,” says Kridchanokshe.
    Index Living Mall has also opened stores in Malaysia and Vietnam.

    Malaysia’s first store is in IOI City Mall in Putrajaya, followed by another outlet at Aeon Mall in Shah Alam in March, and at Aeon Mall in Kota Bahru last month. The expansion in Malaysia is through a joint venture with Japan’s Aeon Group, and the fourth store will open in Johor Bahru next year.

    In Vietnam, where the brand has had a presence for four years, the company has appointed a new local franchisee to expand its network. The first Index Living Mall in Vietnam under the new partnership, at Vincom Mega Mall in Ho Chi Minh City, opened in January, followed last month by a store at Hanoi’s Vincom Mega Mall.

    “We are negotiating with a potential joint-venture partner in the Philippines and a potential franchisee in Indonesia for partnership deals expected to be finalised next year,” says Kridchanok.

    Index Living Mall posted THB2.5 billion (US$71.242 million) in sales revenue in the first quarter of this year, a 10 per cent increase compared with the same period last year. The company targets THB10 billion in sales this year, up 10 per cent over 2015.

    It has also opened a concept store at Don Mueang International Airport, Sky Living by Index Living Mall – 400 sqm of retail space showcasing its products and accessories.

    After the renovation of the airport’s Terminal 2 to accommodate the growing number of domestic passengers, Index Living Mall aims to create direct customer experiences by providing a premier passenger lounge designed around a variety of room settings, as well as a Kids’ Zone.

    The first Index Living Mall store opened more than 20 years ago, and there are now 26 retail locations throughout Thailand.

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  • Index, One-stop shop for homeowners

    Index, One-stop shop for homeowners

    Index Living Mall aims to be every homeowner’s one-stop shop that can transform an ordinary living area into a space that is worth boasting. AFTER its debut in Malaysia two years ago at IOI City Mall Putrajaya, Index Living Mall is making headlines again with its latest store at AEON Mall Shah Alam.

    This is the second store in the country for the home furnishing and decorative retail brand from Thailand. Index Living Mall aims to be every homeowner’s one-stop shop that can transform an ordinary living area into a space worth boasting about.

    The new two-storey shop is larger than the first, spanning across more than 6,000sq m with a wide range of home decorative items and furniture to suit everyone’s preference.

    Leave it to Index Living Mall to think of everything, because it also displays living room and bedroom decorating ideas for studio and one-bedroom apartments. Its professional team of designer specialists offers complimentary three-dimensional (3D) room design service while its sleep specialists are there to help you get the best mattresses available for a good night’s rest.

    Besides assisting customers with furniture selection, the store at AEON Mall Shah Alam offers free delivery and assembly service, which stays true to the brand’s commitment of delivering the best to its customers. The launch of the store was made official by the Royal Thai Embassy minister and deputy chief of mission Sirintra Chantapan.

    AEON Index Living Mall Sdn Bhd director Nur Qamarina Chew expressed excitement over the opening of the second Index Living Mall in Malaysia.

    “Partnering with AEON, we look forward to expanding the home furnishing brand locally and continuously catering to homeowners’ growing demand for unique, world-class designs,” said Nur Qamarina. Index Living Mall prides itself in offering reasonable prices without compromising on quality, a stress-free assembly service, and unique products by leading international designers.

    As part of its 12-day opening special ending March 21, the first 150 shoppers with a minimum purchase of RM1,500 will receive a RM150 voucher. During the same period, shoppers can sign up for a free JOYCard membership and enjoy weekly offers that will be available until April 3.

    AEON Credit Service is further sweetening the deal by offering its credit card holders a 10% cash back of up to RM30 per person for a minimum spend of RM100.

    As part of its expansion plans, Index Living Mall will open in AEON Mall Kota Baru in the second quarter of the year.

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  • Index Living Mall plans ASEAN expansion

    Index Living Mall plans ASEAN expansion

    Home-furnishing retailer Index Living Mall has announced its 2020 vision to continue its push beyond Thailand into other ASEAN countries.

    With franchised stores already trading in Malaysia, Thailand and Vietnam, the company believes the region’s urbanisation has shifted consumers toward a more modern lifestyle, including the way they buy and use home-furnishing products. It also notes a rise in the number of middle-income earners throughout the ASEAN Economic Community.

    MD Kridchanok Patamasatayasonthi says the company aims to double the present 5 per cent contribution to its total revenue from AEC markets by 2020. The company’s total revenue of Bt9.5 billion (US$264.8 million) last year was 5 per cent up on 2014.

    “Our market expansion through international franchisees is the result of growth in the home-furnishing and accessories sectors among ASEAN member countries,” says Kridchanok. “Other positive factors, including the bustling economic outlook, rising gross incomes and similar customer behaviour, helped accelerate our decision to look for investment opportunities in new markets.”

    She says the company has appointed VinDS, the retail investment arm of Vietnamese commercial property developer Vingroup, as its franchisee to tap into the home-furnishing and accessories retail market in that country. The first Index Living Mall under that partnership had a soft opening last month in Ho Chi Minh City, occupying 7000 sqm in Vincom Mega Mall Thao Dien. Costing more than Bt200 million, the store is expected to achieve Bt350 million in sales in its first year.

    Index Living Mall has had a store trading in Ho Chi Minh for more than four years, effectively testing the market. Now with VinDS it expects to open 10 more stores in major cities in Vietnam, including Ho Chi Minh, Hanoi and Da Nang, within five years.

    “Economic growth indicators show that the Vietnamese retail market is number two in Asia, after only China,” says Kridchanok.

    “During the first half of last year, the Vietnamese economy posted 6.28 per cent growth, the highest since 2008. With a population of 90 million, this will continue to grow, thanks to per capita income rising more than 10 per cent over the past decade.”

    Kridchanok says it is expected that the number of Vietnamese earning a median income of 15 million dong ($673) a month will grow to 33 million by 2020.

    Index Living Mall’s director for international business development Ekaridhi Patamasatayasonthi says the company’s venture into Vietnam highlights its marketing direction to tap into emerging CLMV (Cambodia, Laos, Myanmar and Vietnam) markets, aimed at strengthening its leadership position in the home-furnishings and accessories retail market in the ASEAN region.

    Ekaridhi says the company plans to open store in Manila in September via a joint venture with SM Retail, a Philippine business conglomerate involved in shopping mall, property development, banking and retailing. Index Living Mall has a 30 per cent stake in the venture.

    In Malaysia, Index Living Mall opened its first home-furnishing store in Putrajaya last year in a joint venture with AEON. Three more stores are planned for Malaysia this year – in Kuala Lumpur in March, Kota Bharu in April and Johor Bahru in the fourth quarter.

    Ekaridhi says there are six franchised stores in five countries – Malaysia, Russia, Maldives, Nepal and Vietnam – as well as dealers in Laos and Myanmar. In its home country, the company has 25 stores in 17 provinces, of which nine are in Bangkok. It plans to invest Bt470 million this year to open two stores, in Nakhon Pathom and Chachoengsao.

    Index Living Mall expects to post Bt10 billion in revenue this year and to grow its annual sales by 10 per cent over the next five years.

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