Tag: Thailand

  • Dtac plans major prepaid brand revamp

    Dtac plans major prepaid brand revamp

    Thailand’s Dtac has announced a major prepaid brand revamp and introduced new promotional tariff plans as  part of efforts to attract at least 1 million digital consumers to its prepaid subscriber base.

    As part of the revamp, Dtac will replace its Happy prepaid brand as it moves to bring all its prepaid brands under the Dtac umbrella.

    The operator has allocated 200 million baht ($5.7 million) this year towards marketing the Dtac prepaid brand.

    Dtac has also introduced plans offering unlimited internet access and free calls within Dtac networks for 29 baht ($0.83) per day.

    Prepaid customers will also be offered free YouTube streaming from midnight to 8am and 24 hour music streaming.

    Around 80% of Dtac’s 25.5 million subscribers are prepaid customers, with the wide majority using the operator’s 3G network, statistics provided by the company show. Around 68% of Dtac’s prepaid customers own a smartphone.

  • Pop-up restaurants add diversity to Bangkok’s retail market

    Pop-up restaurants add diversity to Bangkok’s retail market

    POP-UP restaurants are a growing trend in Bangkok shopping malls and in suburban main streets.

    These are temporary restaurants that can operate from any location where there are customers and that is safe for cooking and serving food.

    While beer gardens operating during the cool season are probably the pop-up format that Thais are most familiar with, pop-up kitchens and food trucks are gaining popularity in Bangkok.

    The Mall Group recently introduced pop-up kitchens around its supermarkets. Patrons can buy fresh produce and ask for it to be cooked at these kitchens.

    Although seating is limited, the food fad has caught on and it is not surprising to find queues forming at these new eateries.

    Another trend that is transforming the street-food culture in Bangkok is the mobile food truck. Summer Street, which serves grilled seafood, and Daniel Thaiger’s burger truck are names that have gained a following.

    Potential patrons keep track of opening hours and the location of these trucks on social-media platforms – an indication that the digital age has fundamentally changed the way people dine and socialise.

    Pop-up restaurants can range from the simple to the ultra-high-end, but one thing they all have in common is the element of exclusivity.

    Because of their temporary nature, pop-ups intrinsically create a “moment in time” that cannot be replicated; this also ties in neatly with the experience trend and craving for new and exciting concepts.

    These food and beverage developments have given some of Thailand’s malls and retail streets a revival, adding diversity and vitality to the shopping experience and keeping people in the malls longer.

    The mobility of these pop-ups and food trucks means that empty spaces can be easily converted into food halls or markets, helping to breathe new life into sometimes derelict but architecturally exciting space, such as former factories, warehouses, office buildings and marketplaces that are in good locations.

    In Bangkok, mall operators have used car-park spaces to host food and culture festivals. Boosted by rising income levels and an insatiable demand for fresh culinary experiences, these food halls have become very popular.

    These pop-up restaurants because of their mobility and flexibility will continue to help mall operators pull in retail crowds even as they undergo renovations.

  • Central Pattana plans to enter Malaysia

    Central Pattana plans to enter Malaysia

    Shopping mall developer Central Pattana, which runs 29 malls in Thailand, plans to open its first foreign outlet in Malaysia in 2018.

    It will work through a joint venture with a Malaysian company in which it holds a 60 per cent stake. The new mall, under the Central brand, will be in Shah Alam, west of Kuala Lumpur.

    To be built on about 44,000 sqm of land, the mall will have a net leasable area of 89,700 sqm, and cost about 8.3 billion baht (US$232 million) to build.

    Senior executive VP Naparat Sriwanvit says Central Pattana plans to open 15 malls by 2020, three of them outside Thailand. Indonesia and Vietnam have been listed as potential targets because of their large populations and rising incomes.

    As with Malaysia, the company plans to enter other markets through joint ventures with local partners.

    Naparat says the Thai market is still promising, with room for expansion in the suburban areas of Bangkok and the provinces. The company plans to open a 1.9 billion baht mall in the southern city of Nakhon Si Thammarat at the end of next month, as well as two other locations outside Bangkok next year.

    Central Pattana, with CentralWorld mall in central Bangkok as its flagship, saw its net profit rise 7 per cent last year.

  • Radware opens new office in Thailand

    radwareRadware, a provider of cyber security and application delivery solutions, has opened its new office in Bangkok, Thailand.

    Located in the Ratchada area in Bangkok, the new office equips training and demonstration facilities, and will support Radware’s operation across Thailand.

    Radware works with clients in industry verticals such as telecoms, banking, Government, retail and manufacturing sectors.

    Radware Thailand office has also added additional resources, including the appointment of a new Enterprise Business Manager focusing on Banking and Government customers and a new Systems Engineer.

    Paul Coates, VP of South APAC, Radware, said: “Asia Pacific continues to be a strategic region for Radware, and building out a new infrastructure in Thailand allows us to provide even faster technical and sales supports to our valued customers in various industries.”

    Radware has 16 offices in Asia Pacific region: Australia, China, Hong Kong, India, Japan, Korea, Singapore, Taiwan and Thailand — to support its customers and partners.

  • CBRE Thailand: economy hits development

    CBRE Thailand: economy hits development

    Against an unfavorable economic backdrop, coupled with growing competition in the Bangkok retail market over the past couple of years, developers have been postponing projects, says property company CBRE Thailand in its retail market review for first quarter.

    Affected are mega-projects Bangkok Mall, Central M, EmSphere and Mega Rangsit.

    Instead, says the review, owners have been focusing on renovating and repositioning malls as well as selectively expanding upcountry.

    Newly completed retail supply in Bangkok has begun to slow down, with about 60,000 sqm coming onstream from nine retail developments in the first quarter. None of the projects were big scale, says the report, the largest being the Ratchadapisek Suam Lum Night Bazaar.

    Despite representing a small share of total retail sales, eCommerce has grown rapidly in Thailand over the past year, says the review, posing an up-and-coming risk to brick-and-mortar stores. This will spur growth in online shopping, forcing retail developers to create more attractions to lure consumers to their physical stores.

    “Looking forward, unless domestic demand recovers, we do not expect the delayed projects to start construction any time soon,” says the review. “With the combination of low future supply and the completion of refurbishment in major retail centres, we believe the occupancy rate will bottom out this year.

    “However, rental growth going forward is expected to be limited as competition remains fierce.”

    Meanwhile, domestic demand is still weak. The retail sales index in January, estimated by the Bank of Thailand, was at 200.7 points, increasing by only 0.02 per cent.

    Also, Thailand’s Consumer Confidence Index (CCI) dropped to 73.5 in March, the lowest level in five months, from 75.5 and 74.7 in January and February respectively.

    Thailand’s household debt level continues to be an issue at more than 80 per cent of total GDP, dragging down the spending power of consumers.

    Growing competition in the Bangkok retail market has seen several large-scale projects completed of the past year years, taking the total retail supply to 7.2 million sqm., up nearly 900,000 sqm from the figure in 2014.

    “Not all shopping centres will perform,” says the review, “and we have seen falling occupancy in some of the old or poorly managed malls.”

    First-quarter occupancy was at 92.9 per cent, down 0.3 percentage points from the previous quarter.

    Retail sales in central Bangkok have improved as international tourist numbers have grown, up about 15 per cent from last year.

  • Central Department Store app launched

    Central Department Store app launched

    A Central Department Store app has been launched to keep customers informed about in-store promotions, aiming to drive traffic in the lacklustre market in Thailand.

    In the Thai language, Central Smart Shopper lets users key in such factors as date, store branch and budget. It then shows a list of available promotions from about 20 credit-card companies.

    Executive VP for marketing Piyawan Leelasompop says the aim is to capture younger-generation shoppers. “They are eager to change, and one day we could foster the relationship and build brand loyalty.”

    Part of retail giant Central Group, the department store has invested more than 10 million baht (US$280,000) to develop the app, and targets 100,000 downloads by year-end. It plans to further develop the app to link to online shopping.

    This follows Central Group acquiring the Thai market for online fashion marketplace Zalora, as well as a slump in Thai spending. Thailand’s retail sector slowed to 2.8 per cent growth last year, according to the Thai Retailers Association.

    Central Group will kick off a one-and-a-half-month sale on Friday at its 64 branches nationwide, including Central Department Stores. It will invest 100 million baht in the campaign to offer discounts of up to 80 per cent.

  • Siam Discovery ‘ready to rock the world’

    Siam Discovery ‘ready to rock the world’

    Siam Discovery in the heart of Bangkok officially opened last week – billed as a shopping centre experience like none other in the world.

    And when you took a walk through the THB4 billion (US$112 million) redevelopment, for once in this industry the experience exceeded the hype.

    “We are ready to rock Bangkok and rock the world,” says Chadatip Chutrakul, CEO of Siam Piwat, which owns the trio of Siam-branded malls next to the confluence of Bangkok’s downtown Skytrain lines.

    They rocked our world, for sure, because there genuinely is nothing like this anywhere we’ve seen in the world. This is a centre designed to engage even the most jaded shopper. More than a collection of stores, it is a curation of brands presented in an array of environments created by Japanese designer Oki Sato and his team from Nendo in Tokyo.

    Siam Discovery Bangkok

    From the brilliant white modern elegance of the Issey Miyake women’s fashion store at the entrance level to the Nendo-designed Loft fitout on the upper level – and everything in between – this is a retail destination that will wow, engage and delight.

    “We hope people coming here get inspired,” says Sato. “We hope every single person who comes here is challenged.”

    While there are various branded stores in the revamped Siam Discovery, they are almost incidental to the overall experience. In what marks Siam Piwat’s first foray into running its own department  store – a misnomer in this context – Sato and his team have created a series of striking merchandising areas all without walls, mixing materials and concepts, and showcasing products ranging from high-end fashion to homewares and electronics.

    Complementing them are areas dedicated to revolving pop-up concepts – most of them engaging customers, others for name brands to test their mettle with the Thai consumers and tourists who will frequent this centre when it opens to the public on Saturday morning (May 28).

    Women can create their own lipstick tones; there are 3D printers that can create sculptures of photographs; you can paint your own pattern prints to create your own clothes or a personalised coffee mug; you can test pilot a drone, run 500m on a treadmill to donate money to charity, or strike a pose for an Instagram post … And more – much more.

    Siam Discovery Bangkok 10

    The 40,000 sqm Siam Discovery, perhaps best known to visitors to Thailand as the home of Bangkok’s Madame Tussauds wax museum, has been completely gutted over the past 12 months. Now it features six levels of experiential retail, each with its own distinct theme. Ground level is Her Lab, anchored by  Issey Miyake and featuring an assembly of mid- to high-end fashion labels including Comme des Garcons, Marimekko and Rag & Bone.

    Up one floor is His Lab, a full storey of menswear, shoes and – perhaps a highlight – a “skin lab” featuring possibly the largest collection of men’s skincare and grooming products outside Tokyo. In the corner is a bespoke barber shop offering haircuts and shaving services: understated and old world.

    Siam Discovery Bangkok 2

    Siam Discovery Bangkok 6

    Siam Discovery Bangkok 1

    Next level up is Streetlab, a collection of casualwear, streetwear, sportswear, shoes and accessories. Again there is a mix of shop fronts and open displays where Siam Piwat has chosen the merchandise – and displayed it imaginatively. A highlight: sunglasses on batons both rising from the floor and descending from the ceiling. To complement the sporting and fitness theme, there is a salad bar and a Boost Juice cafe.

    Siam Discovery Bangkok 4

    Siam Discovery Bangkok 11

    One more floor up is Digital Lab: gadgets, techno toys, cameras, stationery, even a store selling customised motorcycle helmets (it is opening with a display of helmets owned by famous Thais, including a popular actor and the head of a major bank). This is where you can fly a drone, check out a Yamaha display featuring MotoGP-themed bikes, or relax at an unusually designed Starbucks made from recycled materials.

    Siam Discovery Bangkok 7

    Creative Lab, another level up, is largely a housewares store, including Thailand’s second Habitat shop and heavily Japanese-influenced displays of homewares, ornaments and collectibles. There is a Thann Spa, most certainly its most stunning design yet, an artisan coffee roaster, Cafe Now, and a tiered stairwell designed to encourage people to chill and relax much like they would in an Italian piazza – but in air-conditioned comfort. That space will be used for demonstrations and the occasional live music event.

    Siam Discovery Bangkok 12‘Siam Discovery Bangkok 8

    And on the top floor, as well as the entrance to a new Virgin Active gym, there is a toy zone, books, outdoor gear space, a cafe and more places for interactive pop-up concepts.

    As with the successful redesign of the adjacent Siam Centre, Chadatip worked with brands to ensure the centre offers products not available elsewhere. So even familiar brands have one-off displays or limited-edition runs – some carrying Siam Discovery or Siam Piwat branding for the launch.

    Siam Discovery Bangkok 3

    Sato says Siam Discovery is his first project in Thailand, and his most ambitious anywhere to date. From day one he worked with Chadatip’s team on how to create a flow of visitors through the building.

    Instead of the original two sets of escalators, there is now only one, creating more of a sense of space in the atrium. About 220 black frames have been built to hold LCD screens and other displays to draw people to the upper levels.

    “So you have vertical flow, you have horizontal flow and then you create circular flow,” says Sato.

    The concept of “lifestyle laboratories” reflects the aim of creating something markedly different to a conventional mall, where brands each have dedicated rooms in planned precincts. While “curating” is a term used all too loosely in modern retail, it does seem appropriate here. Teams of people have chosen products from a variety of brands to merchandise them in a complementary fashion so people walking through the centre will be guaranteed to see something new.

    Siam Discovery Bangkok 9

    “The idea is not about adding products through brands, but through different lifestyles, cultures and trends,” says Sato. “So customers can choose their own lifestyle.

    “We hope people coming here will be inspired, that they find something, and that every single person who comes here is challenged.”

    Shopper, retailer or mall manager: from our experience during today’s preview, all will be equally challenged by the new Siam Discovery.

  • Southeast Asian economies lure Alibaba

    Southeast Asian economies lure Alibaba

    Southeast Asian economies are reaching a stage similar to China’s at the end of the last decade, when eCommerce began to take off, according to Alibaba Group executive vice-chairman Joseph Tsai.

    “I don’t blame you guys for having some degree of excitement about Southeast Asia when you look at the economies here,” he has told a Singapore conference staged by Google and local sovereign wealth fund Temasek.

    For example, he said, the per-capita GDP of Indonesia, the world’s fourth most-populous country, was about $2900. “That’s roughly the same as China’s per-capita GDP in 2009 and into 2010, a period when Alibaba’s C2C marketplace Taobao began to soar, adding about $50 billion in gross merchandise volume.”

    This was one reason Alibaba had invested about $1 billion in Singapore-based Lazada Group last month. Launched in 2012, Lazada now has shopping websites in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. It began by selling inventory to customers from its own warehouses but now also runs marketplaces for third-party sellers, as well as using its own logistics networks for deliveries.

    “We’re very excited about our investment in Lazada,” Tsai said. “It is starting from a very small base, but the potential is very, very big.”

    By adding marketplaces in Southeast Asia, Alibaba can offer merchants already selling on its platforms a chance to sell into new markets. “It’s very, very helpful to be able to present something that is more of a geographically diverse platform,” Tsai said. Online healthcare and fintech companies such as Alibaba-affiliate Ant Financial, poised for rapid growth in China, could expand their services to Southeast Asia.

    Tsai said he sees promise in the wide use of the mobile internet in Southeast Asia, a trend that typically gives rise to greater engagement and more purchases by online shoppers.

  • Ben & Jerry’s is coming to Thailand

    Ben & Jerry’s is coming to Thailand

    A Ben & Jerry’s Thailand ice-cream outlet is planned, with the company teasing the move with artwork featuring its product on a tuk-tuk.

    “The wait is over!” the company has written in Thai on Facebook. “We, Ben & Jerry’s, are excited to officially come to Thailand.”

    No further information is available as yet, and Coconuts Bangkok says fans can follow the news through Ben & Jerry’s Thailand Facebook site. Meanwhile, the product is available as a takeaway in some convenience stores.

    Ben and Jerry’s opened their first ice-cream shop in a renovated petrol station in Burlington, Vermont, in 1978, after taking a $5 correspondence course about making ice cream and a $12,000 investment ($4000 of it borrowed).

    Now the company has outlets in many countries and is owned by Anglo-Dutch corporation Unilever.

  • Marine Gold reaping benefits of 2013 losses as shrimp production rebounds

    Marine Gold reaping benefits of 2013 losses as shrimp production rebounds

    In 2013, Marine Gold Products, one of the largest shrimp exporters in Thailand, lost big money on meeting its export commitments.

    As early mortality syndrome (EMS) caused Thai production to dive, raw material prices rocketed. EMS caused production to dive under 200,000 metric tons, compared to the peak of over 600,000t.

    This left packers fighting for shrimp for orders.

    “I shipped every container in 2013, so we lost $10 million,” Choopong Luesukprasert, Marine Gold’s managing director, said.

    The aim of continuing to ship containers at a crisis time for the Thai shrimp sector, was about maintaining business contacts, he said, during the Thaifex: World of Food Asia show in Bangkok.

    “But, since, we have kept this business and gained more, as we reliable,” Choopong Luesukprasert, Marine Gold’s managing director said.

    For 2016, shrimp production in Thailand is rebounding and prices for raw material are competitive with other sources, such as Indonesia, India and Vietnam.

    Production in 2015 is said to have been around 240,000t, up from 210,000t in 2014.

    For 2016, forecasts range from 260,000t, up to 300,000t.

    The later is attainable, said Luesukprasert.

    “I think 300,000t is realistic. Production hasn’t started like we expected, as we have had such a long drought in Thailand. But, we think it will start picking up from now,” he said.

    Selling shrimp to the US is the main export market for Marine Gold, with the export target for 2016 at 45 million pounds, he said.

    Due to the forecasted increase in Thai raw material output in 2016, Luesukprasert hopes Marine Gold can expand its output by 20-25%. This is ahead of the forecasted increase in production.

    The company has also launched a ready-to-eat brand for the domestic market.

    Luesukprasert said he plans to export the product range in the future, however.

    The range is being sold in Thai retail under the brand “Yummy Tale”; featuring products such as shrimp pad Thai and shrimp green curry with jasmine rice.

  • Mary Buffett Launches Jitta.com for Bangkok Investors

    Mary Buffett Launches Jitta.com for Bangkok Investors

    Mary Buffett, the former daughter-in-law of famed investor Warren Buffett, helped launch Jitta.com last week, a platform aimed at retail stock investors in Thailand’s capital. Ms. Buffett brings the Buffett know-how to Bangkok to appeal to investors hoping to become as good as the famous stock picker.

    Co-author of the best-selling book “Buffetology,” Mary is putting her name behind the Jitta startup. After testing the platform for herself, Ms. Buffett found it to be an impressive tool for investors.

    Mary’s endorsement of Jitta.com is an obvious boost for the Thai-based startup, which is looking to make it big on the international retail investment scene.

    Ms. Buffett met with Jitta.com founder Trawut Luangsomboon three years ago, and was one of the initial investors in the project. The start-up launched in the U.S. in 2014.

    Jitta uses Warren Buffett’s investment style to simplify retail investment and make it easy for most individuals to get started. Buffett’s style is primarily focused on buying great stocks when they’re undervalued.

    When shares drop below Jitta’s “fair price,” investors are encouraged the buy the stock – just as Warren Buffet would do.

    Through the adoption of Buffetology’s key elements, this platform helps investors minimize risk while doing their due diligence.

    Jitta covers stocks in Singapore, U.S., Thailand, Vietnam and Hong Kong.

  • American ice cream to the rescue

    American ice cream to the rescue

    American ice cream is coming to the rescue of a coal trader in Thailand, as the company diversifies in the face of volatility in its segment.

    Thai Capital Corporation (TCC) has diversified into F&B retail after totally acquiring NYC-Thai BD from its shareholders for 33.82 million baht (about US$950,000).

    It is TCC’s first foray into the F&B sector, while NYC has retail outlets specialising in frozen desserts, smoothies and ice creams under the Emack & Bolio’s trademark. This is an American brand founded in 1975 and brought to Thailand in 2012. It has six stores in Bangkok.

    TCC CFO Kamphol Patana-anukul says the company bought 400,000 shares of NYC with a par value of 10 baht each. After the transaction is complete, it will increase NYC’s registered capital from 4 million to 20 million baht, which will be used as working capital and for expansion.

    TCC had 203.7 million baht in sales revenue for the first quarter, down 27.4 per cent from the same period last year, hit by fierce competition in the coal business and a drop in global coal prices.

    Several other Thai companies have also diversified into F&B, including Impact Exhibition Management, which has expanded into the frozen bakery business.

  • Indonesia sells 35 containers of kerupuk at Thaifex 2016

    Indonesia sells 35 containers of kerupuk at Thaifex 2016

    Indonesia’s traditional kerupuk (crackers) have become the star among other food commodities displayed at the Indonesian booth during Asia Thaifex 2016 in Bangkok, which is known as Asia’s biggest food and beverage expo.

    The snacks registered total orders of 35 containers worth Rp 12.9 billion ( US$950,000 ) at the event held from May 25 to 29, said an Indonesian trade attaché member in Bangkok, Rita Tri Mutiawati. The Trade Ministry and Industry Ministry collaborated on sponsoring Indonesian companies joining the event.

    “Thanks to the sponsorship of the Central Java administration’s trade and industry service center, Indonesia Selamat Sejahtera booked orders from China for 15 containers of prawn crackers, and South Korea also ordered 20 containers of fish crackers,” she said.

    Aside from kerupuk, Rita further said Indonesian seafood products manufactured by Fresh On Time were able to gain international buyers from the US, Mexico, and the European Union ( EU ) while similar products by Medan Tropical sealed a distribution agent in Thailand and the EU.

    From the 41 Indonesian companies who joined Thaifex, 21 were sponsored by the Industry Ministry, 10 were sponsored by the trade attaché and four were sponsored by the Central Java administration. Only six companies joining the event were without government sponsorship.

    The companies showcased their products ranging from seafood, instant seasonings, confectionaries, hot sauces, coffees, herbal medicines, biscuits, snacks, wafers, green tea, to cashew nuts. Indonesia’s representatives competed with 964 other companies in the event.

    “Thaifex is the door to export food and beverages products to other countries. Indonesian food and beverage manufacturers should not miss this opportunity,” Rita said, adding that there were one-to-one business matchings being made between Indonesian firms with other countries’ firms.

  • Restaurant Review: Downtown Bangkok Cafe

    Restaurant Review: Downtown Bangkok Cafe

    This Phoenixville restaurant delivers Thai cuisine with unexpected elegance and an authentic experience.

    Spicy Thai Basil Chicken//All photos by Steve Legato

    “A best-kept secret!”

    Online critics are forever clinging to exhausted, simplistic superlatives. And yet, how else to describe Downtown Bangkok Café, other than to peg this Thai yearling as a quaint hidden gem or a surprising off-the-radar find on the outskirts of Phoenixville?

    From Left: Downtown Bangkok Café’s casually elegant interior; green curry

    Owners Yaowapa and Jerry Kowal—the chef and manager, respectively—didn’t set out to become restaurateurs. They first opened Yaowapa Thailand Treasures, a retail gift shop of handmade imports, in 2009. Six years later, they have an artfully decorated 48-seat eatery on the store’s second floor. It was inspired by a passion for cooking rooted in Yaowapa’s  heritage. It became a reality thanks to Jerry’s skill as an engineer and a direct merchants’ pipeline from Thailand.

    Impressive wall mountings and hand-carved statues from the Kowals’ native Chiang Mai region can be found through-out the café’s four tastefully appointed dining spaces and waiting room. That attention to authentic detail continues with the etched wooden tables and chairs, logo embroidered napkins and silverware handles bearing elephants.

    The grilled tofu cubes are the perfect accompaniment to Yaowapa’s fragrant curries. Her onion-pineapple-potato-and- peanut-studded massaman, in particular, is a pungently ruddy lava flow, gushing creamily over fluffy jasmine rice. Hot and crispy coconut shrimp top a chilled Thai salad, providing a unique contrast in flavor and temperature.The cuisine is well prepared and delicious. Our three skewered chicken strips came with an addictive peanut sauce. Another app, the Crying Tiger, combines tender slices of grilled beef and assorted crunchy veggies with a sweet chili-lime sauce. The “medium” spice offers just the right heat. The Pad Thai tastes authentic, as does the Drunken Man—a hearty tangle of flat soba noodles, egg, basil and vegetables, served with a choice of shredded beef, chicken, pork or tofu.

    From Left: Thai tea; the casual elegant interior

    Desserts are simple and sparse. The honeyed banana, rolled into fried wonton skins and served with vanilla ice cream custard is the best of the lot.

    THE SKINNY: Comprised of a series of lavish rooms nestled above Thailand Treasurers, this surprising find goes well beyond run-of-the-mill superlatives. Both the fare and the peaceful aesthetics are emblematic of Thailand.

    Crispy duck with tamarind sauce.

  • Lalamove Attracts Thai Investor Confidence

    Lalamove Attracts Thai Investor Confidence

    Hong Kong based on-demand delivery app Lalamove has successfully secured USD 10 million with the help of a new Thai investor, along with the company’s existing investors.

    Thai financial and investment services company, Asia Plus Group Holdings has invested in Lalamove to drive the app delivery company to profitability and to complete Lalamove’s third-round funding within the last 18 months.  The latest cash injection brings Lalamove’s total funding up to USD 30 million.

    The latest round of funding, attracting Thai investor Asia Plus Group Holdings, was led by existing investor MindWorks with participation from other existing investors including China’s Crystal Stream, Taiwan’s AppWorks and Hong Kong’s Aria Group.

    Following Lalamove’ s recent partnership with LINE to launch LINE Man app, the funding success reveals the speed at which Lalamove is growing, as CEO Shing Chow expressed.

    “We began as a small start-up in Hong Kong working out of my apartment and have grown to 21 cities across Asia in the last two years.   When we began, we targeted lots of small businesses, but since then we have developed enterprise solutions to allow companies like Google, IKEA, and now LINE to make their delivery much faster and simpler”, said Chow. 

    Chow continued, “There is so much potential in making delivery more efficient as mobile internet is changing the way mobile assets are utilized.  This funding will be used to accelerate our leadership position and expansion efforts throughout China and other SEA countries.  It’s really a vote of confidence from our existing investors in our model and team.  It is our goal to be profitable this year, and it’s quite rare that you see a startup growing at our speed achieving that in less than three years. We are on track to deliver that.”

    The investment of Asia PlusGroup Holdings is the first time the Thai company has invested in a tech company, demonstrating the company’s belief in Lalamove. 

    Asia Plus Group Holdings’ CEO Dr. Kongkiat Opaswongkarn is positive about the investment. “The fact that we are investing in an app company for the first time really demonstrates how much we believe in the success of Lalamove and the e-logistics market in Thailand and within Southeast Asia. We have followed the expansion, strategy and successes of Lalamove and we like what we see and the great potential for profitability. We are excited to be helping to make that happen and to be part of that success story.”

    Santit Jirawongkraisorn, Co-founder and Managing Director of Lalamove Thailand states that the investment from Asia Plus Group Holdings reveals great confidence in Lalamove. “We are involved in a fast-moving company in an expanding market with huge potential. The recent funding reveals investor confidence in our business plans, including Thai investor confidence. The app, logistics and mobile markets in the region are booming and Lalamove is at the forefront of that drive. Investors like Asia Plus Group Holdings are helping us steer where we want to go in the future, which is ultimately towards profitability.”

    With the largest footprint across Asia, Lalamove is well positioned to capitalize on the growing trend of businesses looking to out-source their delivery needs.  Additionally, with more and more consumers looking to have their items delivered faster, Lalamove’ s average delivery time of 46 minutes is changing the landscape of intra-city delivery in Asia.

    Lalamove can be downloaded for free from Google Play store and Apple Store.