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Tag: Thailand

  • No Brand Korean Retail Concept Makes Grand Debut in Thailand through Central Food Retail Partnership

    No Brand Korean Retail Concept Makes Grand Debut in Thailand through Central Food Retail Partnership

    Central Food Retail, a division of Central Retail, is broadening its operations via a collaboration with Emart, a South Korean retailer, to introduce No Brand, a store model focused on value, in Thailand.

    First No Brand Store in Thailand

    The No Brand store, the first of its kind in Thailand, will commence operations at Central Bangna on March 31. This move signifies the official entrance of the brand into the Thai market. The forthcoming Bangkok outlet will stock over 2,200 items, encompassing Korean treats, essential pantry items, and household products.

    According to Central Food Retail, the No Brand concept appeals to customers who are after value but do not want to sacrifice quality. The store concept aims to leverage the ongoing popularity of Korean culture and products in Thailand.

    Broadening Retail Offerings

    MD Thanawat Jirajariyavej stated that the alliance with Emart forms part of their strategy to expand the group’s retail offering while meeting the demand for value-oriented products among Thai consumers. “This initiative signifies another crucial step in enhancing our portfolio towards becoming a global grocery destination through a value-driven retail model that consistently delivers quality, design, and value to our consumers,” Jirajariyavej stated.

    He also added that this partnership underscores Thailand’s potential as a strategic consumer hub in Southeast Asia, a region that continues to exhibit steady growth and attract top-tier brands to extend their reach in this area.

    About No Brand and Central Food Retail

    Emart launched No Brand in South Korea, and the chain now operates over 270 stores in the country. The brand has also extended its operations to other international markets, including the Philippines and Laos, and exports its products to more than 20 countries.

    Central Food Retail manages grocery and specialty retail formats, such as Tops, Tops Food Hall, Tops Daily, Tops Online, Tops Care, and Matsukiyo.

    Questions & Answers

    What is the new initiative of Central Food Retail in Thailand?
    Central Food Retail is expanding its portfolio through a partnership with South Korean retailer Emart to launch the value-focused store concept No Brand in Thailand.

    What is the aim of the No Brand store concept?
    The No Brand concept targets consumers seeking value without compromising on quality, and seeks to leverage the continued popularity of Korean culture and products in Thailand.

    What does the collaboration with Emart signify for Central Food Retail?
    The collaboration forms part of Central Food Retail’s strategy to expand its retail offering while meeting the demand for value-oriented products among Thai consumers. It also highlights Thailand’s potential as a strategic consumer hub in Southeast Asia.

  • Mr DIY Scales New Heights: Targets 3,000 Stores in Thailand by 2031 Following Stellar Growth

    Mr DIY Scales New Heights: Targets 3,000 Stores in Thailand by 2031 Following Stellar Growth

    Mr DIY, the biggest home improvement retail chain in Asia, is setting its sights on further expansion in Thailand, having recently reached the milestone of 1,000 stores in the country.

    Establishing a Strong Retail Presence

    Since its debut in Thailand in 2016, Mr DIY has broadened its reach significantly across 77 provinces. With its origins in Malaysia, the company now runs more than 5,000 stores in 11 countries worldwide.

    Andy Chin, the CEO of Mr DIY Thailand, expressed his excitement and optimism about the company’s future growth prospects. He shared some details about the expansion plans they have in place.

    Expansion Plans

    Mr DIY has set an ambitious target of opening an additional 210 stores in Thailand this year. In aid of this, the construction of an automated warehouse in Samut Prakan is currently in progress.

    This warehouse is set to function as a distribution center, thereby assisting Mr DIY in achieving its goal of 3,000 stores by 2031. By 2027, the company envisages having 1,500 stores operational within Thailand.

    Financial Performance

    In terms of financial performance, Mr DIY reported a revenue of THB20.1 billion during the fiscal year 2025, which was a 24.4 percent annual increase. Additionally, the company also witnessed a significant 47.8 percent surge in profits.

    Questions & Answers

    What is Mr DIY’s target number of stores in Thailand by 2031?
    Mr DIY aims to have 3,000 stores in Thailand by 2031.

    What is the role of the new warehouse in Samut Prakan?
    The new warehouse in Samut Prakan will serve as a distribution center to facilitate Mr DIY’s expansion goals.

    How has Mr DIY’s financial performance been in recent years?
    In the 2025 financial year, Mr DIY recorded a revenue of THB20.1 billion, marking a 24.4% yearly increase. Profits also saw a substantial increase of 47.8%.

  • Thai Retail Giant CP Axtra Snaps Up The Food Purveyor in $421.6 Million Deal, Expanding Premium Grocery Footprint in Malaysia

    Thai Retail Giant CP Axtra Snaps Up The Food Purveyor in $421.6 Million Deal, Expanding Premium Grocery Footprint in Malaysia

    Thai retail powerhouse CP Axtra has secured a deal to acquire the Malaysian supermarket operator, The Food Purveyor, for a sum of US$421.6 million.

    The Food Purveyor’s Market Presence

    The Food Purveyor boasts a wide range of premium grocery brands under its umbrella, including Village Grocer, Ben’s Independent Grocer, BSC Fine Foods, OTK, and The Food Merchant. The company currently operates a broad network of 50 stores spread throughout Malaysia.

    CP Axtra’s Growth Trajectory

    CP Axtra, established in 1988, is one of the leading wholesale and grocery conglomerates in Thailand. It expanded into Malaysia by acquiring Tesco in 2020 and subsequently operating it under the brand name Lotus Malaysia. With a sprawling network of more than 2600 outlets spread across countries like Thailand, Malaysia, Cambodia, Vietnam, Singapore, Hong Kong, Oman, and the UAE, the company has established a significant presence worldwide.

    Strategic Acquisition

    This new acquisition forms part of CP Axtra’s comprehensive strategy to penetrate high-potential international markets, such as Malaysia. It also bolsters the company’s foothold in the premium grocery segment. Upon the deal’s completion, CP Axtra will operate in excess of 120 grocery chains nationwide. This figure combines 50 stores from The Food Purveyor and 70 stores from Lotus.

    The transaction is slated for completion in the fourth quarter, dependent on receiving the necessary regulatory approvals.

    Questions & Answers

    What major brands does The Food Purveyor operate under?
    The Food Purveyor operates major premium grocery brands such as Village Grocer, Ben’s Independent Grocer, BSC Fine Foods, OTK, and The Food Merchant.

    How has CP Axtra grown over the years?
    CP Axtra has grown significantly since its establishment in 1988. It now operates more than 2600 outlets across Thailand, Malaysia, Cambodia, Vietnam, Singapore, Hong Kong, Oman, and the UAE.

    What is the significance of this acquisition for CP Axtra?
    The acquisition of The Food Purveyor enables CP Axtra to expand into high-potential overseas markets such as Malaysia and strengthen its position in the premium grocery segment.

  • Central Phuket’s Expansion: Transforming Thailand’s Luxury Retail Landscape by 2028

    Central Phuket’s Expansion: Transforming Thailand’s Luxury Retail Landscape by 2028

    Central Pattana is embarking on a significant expansion of Central Phuket, aiming to transform the mixed-use development into a keystone of Phuket’s transition from a tourist-centric locale to a global lifestyle hub.

    The expansion will enlarge the project’s existing area by approximately 40%, pushing the total developmental value past 26 billion baht (US$835.7 million) when completed in 2028. The expanded project will cover an approximate 500,000 square meters of gross building area, solidifying its standing as one of southern Thailand’s major retail and lifestyle establishments.

    Transition to Luxury Lifestyle Destination

    Situated in Phuket City, Central Phuket has gradually evolved from a traditional mall set-up to a luxury-focussed, experience-centric destination. It is designed to cater to high-spending local and international consumers. The latest development phase is set to tap into the escalating long-term residency, growth in branded residential spaces, and infrastructure improvements across Phuket.

    A key aspect of the expansion plan is the doubling of luxury retail space in Central Phuket Floresta. Central Phuket Festival will also be repositioned to enhance its appeal in the fashion and lifestyle sector. The expansion will additionally usher in new high-end dining areas and significant attractions, including immersive entertainment concepts, scheduled for gradual introduction by 2028.

    Central Pattana’s chief marketing officer, Nattakit Tangpoonsinthana, has drawn comparisons between this development model and successful examples in Miami, Saint-Tropez, and Barcelona. He emphasized Central Pattana’s commitment to strengthening this approach with a ‘Global Coastal City’ model. This model is underpinned by three core elements: luxury lifestyle, downtown economy, and a global community, positioning Phuket for long-term sustainable growth.

    Store Expansions and Exclusive Concepts

    The expansion will see the introduction of multiple store expansions and unique shopping concepts. These include the largest Louis Vuitton outlet in southern Thailand, a 597 square meter Prada boutique showcasing one of its widest beachwear collections, a pop-up by Celine, and revamped concept stores from Balenciaga and Saint Laurent.

    In a separate development, Central Pattana allocated 21 billion baht (US$640 million) last year to construct a new mega shopping and lifestyle complex, The Central Phaholyothin, in northern Bangkok.

    Questions & Answers

    What is the projected value of the expanded Central Phuket project?
    The total developmental value is estimated to exceed 26 billion baht (US$835.7 million) upon its completion in 2028.

    What new features will the expansion of Central Phuket introduce?
    The expansion plans include the doubling of luxury retail space, the introduction of new high-end dining areas, major attractions including immersive entertainment concepts, store expansions, and unique shopping concepts.

    What is the ‘Global Coastal City’ model?
    The ‘Global Coastal City’ model is driven by three core elements: luxury lifestyle, downtown economy, and a global community. It aims to position Phuket for long-term sustainable growth.

  • Thai Beauty Giant Konvy Makes Retail Debut in Philippines, Broadens Beauty Horizons with Global Brands

    Thai Beauty Giant Konvy Makes Retail Debut in Philippines, Broadens Beauty Horizons with Global Brands

    Thai-based beauty retailer, Konvy, has made its physical debut in the Philippines by opening its inaugural flagship store in Robinsons Galleria, Pasig City.

    Konvy established its roots in the beauty industry in 2012, initially operating as an e-commerce platform in Thailand. Over the years, the company has enhanced its business model to incorporate brick-and-mortar stores, in addition to their online presence.

    Konvy made its initial foray into the Philippine market in 2023 through renowned online platforms Lazada and Shopee. The company has been offering a range of health and beauty products tailored to meet the needs of local consumers.

    The Flagship Store

    The flagship store provides a carefully selected assortment of international beauty brands with a strong emphasis on products sourced from Thailand, Korea, China, and Japan.

    Prominent among the brands showcased in the store are 4U2, Srichand, Cathy Doll, Snail White, Oxecure, Baby Bright, BrowIt by Nongchat, and Snake Brand, among others.

    JC Chen, the Chief Commercial Officer of Konvy, expressed his enthusiasm about the company’s new venture in the Philippines. “The launch of our maiden flagship store in the Philippines marks an exciting milestone for Konvy Beauty as we aim to strengthen our footprint in the market,” said Chen.

    He added, “Our strategic collaboration with Robinsons Malls enables us to bring Konvy’s unique, discovery-driven beauty experience closer to Filipino shoppers.”

    The company announced that the store’s inauguration is a part of its more comprehensive expansion strategy in the country.

    Questions & Answers

    What is the business model of Konvy?
    Konvy operates a dual business model that combines both online operations and brick-and-mortar retail stores.

    Where has Konvy opened its first flagship store in the Philippines?
    Konvy has opened its first flagship store in the Philippines at Robinsons Galleria in Pasig City.

    What kind of products does Konvy offer in its stores?
    Konvy offers a wide variety of health and beauty products, specifically focusing on products from Thailand, Korea, China, and Japan. It features brands like 4U2, Srichand, Cathy Doll, Snail White, Oxecure, Baby Bright, BrowIt by Nongchat, and Snake Brand, amongst others.

  • Thailand’s Lunar New Year Spending to Skyrocket by 5% in 2026: Forecast Reveals Most Vibrant Celebrations in Six Years

    Thailand’s Lunar New Year Spending to Skyrocket by 5% in 2026: Forecast Reveals Most Vibrant Celebrations in Six Years

    The year 2026 is forecasted to observe a surge in market circulation during the Lunar New Year holiday in Thailand, with an estimated value of THB54.2 billion (US$1.75 billion). This anticipated figure would be the highest in six years, indicating an increase of 5% year on year.

    Consumer Spending Predictions

    According to a consumer spending survey conducted by the Centre for Economic and Business Forecasting at the University of the Thai Chamber of Commerce (UTCC), 25% of the respondents anticipate a more animated celebration this year, while others expect festivities similar to the previous year. Interestingly, 43% of the respondents have plans to pay tribute to Chinese gods and offer items of sacrifice to their ancestors.

    Among the participants, a third mentioned plans to increase their spending during the festival, mainly attributing this to escalated prices. However, 35% of the respondents anticipate the prices of products to remain unchanged.

    Perceptions of Market Prices

    Approximately 70% of the respondents believe that the prices of sacrificial offerings, such as meat and fruits, would be higher than last year. A prudent approach was noticed among one-third of the respondents who intended to buy only necessary items, whereas one-fifth planned to reduce their spending compared to the previous year.

    Travel Trends

    A noteworthy portion of the respondents, over 90%, expressed intentions to travel domestically. This indicates that a rise in local travel is expected during the Lunar New Year holiday.

    Economic Outlook

    Thanavath Phonvichai, President of the UTCC, stated that a large number of consumers are optimistic about an economic recovery after the election. This optimism stems from consumers being able to foresee who will spearhead the government’s economic team.

    Interestingly, it was found that more than half of the respondents view the current economy as worse or significantly worse than during the same period of the previous year. They anticipate economic recovery to start in the third or fourth quarter of this year.

    The respondents suggested that the new government should concentrate on enhancing infrastructure, fostering new industries for economic growth, fortifying the grassroots economy, upgrading regional infrastructure to boost tourism, attracting foreign investment, and supporting exporters. These suggestions mirror the concerns of the Thai people towards economic conditions and the necessity for a clear long-term strategy for sustainable economic growth.

    Future Government Initiatives

    The incoming government is expected to take office by May, with significant stimulus schemes projected to be initiated by the third quarter. Phonvichai urged the government to promptly eliminate corruption and crackdown on scams, as these issues significantly affect confidence in the tourism sector.

    Questions & Answers

    What is the estimated value of market circulation during the 2026 Lunar New Year holiday in Thailand?
    An estimated value of market circulation during the Lunar New Year holiday in Thailand in 2026 is THB54.2 billion (US$1.75 billion).

    What is the general outlook of the Thai people towards the economy?
    More than half of the respondents view the current economy as worse or significantly worse than during the same period of the previous year. They anticipate economic recovery to start in the third or fourth quarter of this year.

    What are the key suggestions provided by respondents for the new government?
    Respondents suggested that the new government should focus on improving infrastructure, developing new industries for economic growth, fortifying the grassroots economy, upgrading regional infrastructure to support tourism, attracting foreign investment, and supporting exporters.

  • Moncler Breaks Into Thai Market with IconSiam Flagship Store Launch

    Moncler Breaks Into Thai Market with IconSiam Flagship Store Launch

    Italian luxury fashion house, Moncler, has announced the opening of its first independently operated store in Thailand. The store is situated in IconSiam, one of Bangkok’s largest multifunctional retail complexes.

    Expanding Footprint in Asia Pacific

    The establishment of this 225 square meter boutique signifies Moncler’s entry into directly managing retail operations in the Thai market. This latest expansion further extends the brand’s comprehensive network of stores throughout the Asia Pacific region.

    Store Design and Product Range

    The store’s design adheres to Moncler’s universal model, merging monochrome finishes with wooden elements. The entrance, featuring a black marble chessboard pattern, leads into a space delineated by floor-to-ceiling moldings. This design creates an architectural layout that strikes a balance between traditional and contemporary materials.

    The IconSiam boutique offers a range of products for men and women from the latest Moncler Collection. The collection includes outerwear, ready-to-wear apparel, accessories, and eyewear.

    Increasing Presence in Key Asian Cities

    Moncler is continuing to expand its directly operated store locations across significant Asian cities. This move comes as luxury fashion labels are escalating their presence in Bangkok to meet the consistent demand from local consumers and international visitors.

    Questions & Answers

    Q: Where is Moncler’s first directly operated store in Thailand located?
    A: The store is located in IconSiam, one of Bangkok’s largest mixed-use retail developments.

    Q: What does the design of the new store look like?
    A: The store design follows Moncler’s universal model, fusing black-and-white finishes with wooden elements and features a black marble chess-patterned entrance.

    Q: What type of products does the new store offer?
    A: The IconSiam location stocks men’s and women’s product lines from the latest Moncler Collection, including outerwear, ready-to-wear apparel, accessories, and eyewear.

  • Australian Fashion Powerhouse Zimmermann Debuts in Bangkok’s IconSiam: A New World of Style and Art

    Australian Fashion Powerhouse Zimmermann Debuts in Bangkok’s IconSiam: A New World of Style and Art

    Zimmermann, a renowned Australian fashion brand, has broadened its global presence with the inauguration of its debut store in Thailand, situated within IconSiam, Bangkok.

    Store Design and Highlights

    The boutique, created by Studio McQualter, is characterized by an expansive display of large windows, showcasing an array of ready-to-wear garments and accessories. Inside, the store encapsulates a 1970s Italian-inspired vibe, with Dutch Art Deco tables serving as the centerpiece.

    The boutique’s ready-to-wear selection is presented across wall-mounted rails, recessed displays, and individual wardrobes. Meanwhile, the accessory section, set beneath an unusually high ceiling, features muted green beams and custom aluminium shelves specifically designed to display bags.

    Customer Experience

    The store is divided into different zones, each aiming to provide a “layered spatial” experience for the customers. These areas are distinguished by unique colour schemes, patterns, and materials. Additionally, a tiled floor serves as a visual guide, assisting customers as they navigate the space.

    The store also houses two lounges, one being a public area and the other a private lounge reserved for special appointments.

    Art and Brand Identity

    The brand’s cultural roots and identity are reflected in the artwork displayed throughout the boutique. Pieces by Australian artists Angilyiya Mitchell, Laith McGregor, and Louise Paramor are featured prominently.

    Nicky Zimmermann, the brand’s creative director and co-founder, emphasized that the store is more than just a space to display clothing. She stated, “The store is a destination that fully embodies the spirit of Zimmermann, from the selection of textures and materials to the integration of art and furniture. Every element invites visitors to linger, explore, and truly inhabit the world of our brand.”

    Questions & Answers

    Where is Zimmermann’s first Thailand-based store located?
    The store is located in IconSiam, Bangkok.

    Who is responsible for the design of the store?
    Studio McQualter designed the boutique.

    What is unique about Zimmermann’s store design?
    Zimmermann’s store is meticulously designed to offer a layered spatial experience, with each area defined by specific colour palettes, patterns, and materials. The store also integrates artwork and furniture, creating a space that invites exploration and evokes the spirit of the Zimmermann brand.

  • Thailand Sparkles as Southeast Asia’s Gold Demand Hotspot, Dethrones Vietnam

    Thailand Sparkles as Southeast Asia’s Gold Demand Hotspot, Dethrones Vietnam

    In 2025, Thailand outperformed all Southeast Asian nations in the purchase of gold bars and coins, signaling a surge in demand. According to the World Gold Council, total purchases in the country amounted to 51.4 tonnes, which represented approximately 36% of the region’s overall demand. This significant uptake in gold was the highest the country had seen in seven years, valued at over US$6 billion. As a result, Thailand surpassed Vietnam, the previous leading gold market in the region, which had recorded a demand of 42.1 tonnes in 2024.

    Regional Uptake of Gold

    Collectively, five prominent Southeast Asian gold markets witnessed a more than 15% surge in the purchase of bars and coins last year. The total demand reached a new nine-year high at 139 tonnes. Vietnam trailed Thailand, securing second place with a demand of 36.1 tonnes. However, it was the sole country to report a downturn in gold sales, with a 14% decrease.

    During the last quarter of 2025, Vietnam’s gold trading shrank for the sixth consecutive quarter, hitting its lowest point in almost half a decade. Supply shortages were identified as a principal reason for this downturn. The country experienced a scarcity of gold bars and a sudden increase in 24K ring demand, causing prices to escalate dramatically and widen the disparity with international rates. Consequently, Vietnam’s gold prices soared by 81% in the previous year and 13.5% in the current year.

    Regional Gold Demand

    Despite these circumstances, Thailand and Vietnam combined accounted for two-thirds of Southeast Asia’s gold demand. The third highest demand was from Indonesia, which saw a 29% surge in sales to 31.6 tonnes, marking an unprecedented volume in 12 years.

    Malaysia claimed the fourth position, with a demand increase of 37% to 10.3 tonnes, likewise a 12-year record. Singapore, ranking fifth, marked the most significant growth in the region at 48%, with a record volume of 9.6 tonnes sold.

    Globally, the demand for gold bars and coins reached 1,374 tonnes or $154 billion. China and India consistently remained the two primary gold markets. There was a 28% rise in demand for gold bars and coins in China in 2025 compared to 2024, while India registered a 17% increase during the same period. Together, these two nations represented more than half of the total global demand for bars and coins.

    Questions & Answers

    Which country led Southeast Asia in gold demand in 2025?
    Thailand led Southeast Asia in gold demand in 2025, with purchases totaling 51.4 tonnes.

    What factors contributed to the decline in Vietnam’s gold trading?
    A shortage in the supply of gold bars and an increase in demand for 24K rings were key factors that contributed to the decline in Vietnam’s gold trading.

    Which countries were the two largest global markets for gold in 2025?
    China and India were the two largest global markets for gold in 2025, accounting for more than half of the total global demand for bars and coins.

  • Chagee Debuts First Thai Flagship Store at IconSiam Featuring Exclusive Drinks & Merchandise

    Chagee Debuts First Thai Flagship Store at IconSiam Featuring Exclusive Drinks & Merchandise

    Chinese tea chain, Chagee, has expanded its presence in Thailand with the launch of its flagship store at IconSiam. This addition increases the brand’s store count in the country to a total of 26 outlets.

    The newly opened store, comfortably situated on the G Floor, Veranda Zone of the Bangkok shopping complex, is designed as a destination-style outlet. It also features an exclusive beverage, Ceylon Black Milk Tea, that is unique to this specific location.

    Store Design and Special Features

    The IconSiam store incorporates a mezzanine level, which significantly increases the seating capacity beyond what is available on the ground floor. The interior design is characterized by contemporary elements and warm-toned materials, complemented by a subdued color scheme. The exterior of the store is marked by an intricate metal-chain installation referred to as the “Golden Chain.”

    Intriguingly, the interior of the store also features a large mural. This piece of art, created in collaboration with Bangkok-based artist Pomme Chan, visually narrates the journey of tea across different regions and cultures. It includes references to trade routes, depictions of everyday life, and several Thai visual motifs.

    Additionally, this location offers exclusive merchandise. Among the items available are a Mini Vacuum Cup and a Tumbler Cup, both presented in a striking Starry Red finish.

    Expanding Presence in Southeast Asia

    The opening of this flagship store is a strategic move in Chagee’s plans to hasten its expansion across Southeast Asia. In the previous year, the tea chain broke new ground by opening its first pet-friendly outlet in the region. This innovative concept store is located in Eastwood City, Manila, Philippines.

    Questions & Answers

    What is unique about the new Chagee store in IconSiam, Thailand?
    The new store introduces an exclusive beverage, Ceylon Black Milk Tea, and also features a large mural created in collaboration with a Bangkok-based artist. Additionally, it offers unique merchandise like the Mini Vacuum Cup and Tumbler Cup in a Starry Red finish.

    What design elements are noteworthy in the new Chagee store?
    The store features a contemporary design with warm-toned materials and a muted color palette. It also has a mezzanine level for extra seating capacity and a metal-chain installation, dubbed the “Golden Chain,” on its exterior.

    How does the opening of a new store in Thailand align with Chagee’s business strategy?
    The opening of the new store in Thailand is in line with Chagee’s plan to accelerate its expansion in Southeast Asia. Last year, the brand unveiled its first pet-friendly store in the region, further showcasing its innovative approach to expansion.

  • Breguet Breaks New Ground with First Luxury Watch Boutique in Thailand

    Breguet Breaks New Ground with First Luxury Watch Boutique in Thailand

    Swiss high-end watch manufacturer, Montres Breguet, has made its debut in Thailand with the launch of a boutique at IconSiam in Bangkok.

    Store Design

    The newly minted boutique showcases a unique design aesthetic, incorporating luxurious elements such as American walnut wood and marble finishes. The core architectural concept revolves around smooth, flowing lines. This is evident in the guilloché-inspired patterns on the carpets and the furniture edges, which reflect the shape of the watch cases. Additionally, the boutique is adorned with the brand’s distinctive ‘Breguet Blue’ hue.

    Customer Experience

    Montres Breguet has placed a particular emphasis on customer service within the boutique. The space includes private service areas, as well as a dedicated consultation zone. These areas are designed to create a unique, personalized customer journey through the store.

    Breguet’s Collections

    The Bangkok boutique features a selection of timepieces from Breguet’s renowned collections. Displayed prominently is the Breguet Experimentale No 1, marking the first offering in the brand’s new Experimentale collection. This watch, a product of Breguet’s research and development team, is characterized by a high-frequency tourbillon that operates at 10 hertz, ensuring impeccable timekeeping precision.

    In addition to this new collection, the boutique also offers timepieces from Breguet’s staple ranges. These include the Classique, Marine, Tradition, and Type XX collections. Notably, the Type XX watch is a mechanical chronograph originally designed by Abraham-Louis Breguet himself for the French Air Force.

    Questions & Answers

    What design elements characterize the Montres Breguet boutique in Bangkok?
    American walnut wood, marble finishes, guilloché-inspired carpet patterns, and the brand’s signature Breguet Blue color are all design elements that characterize the new boutique.

    What special features does the Breguet Experimentale No 1 watch have?
    The Breguet Experimentale No 1 watch features a high-frequency tourbillon operating at 10 hertz, ensuring outstanding timekeeping precision.

    Which collections from Montres Breguet are available at the new boutique?
    The newly opened boutique in Bangkok features timepieces from the brand’s core collections, including the Classique, Marine, Tradition, and Type XX collections.

  • “Telenor Retreats from Asian Markets: Sells $3.9 Billion Stake in True Corporation, Bids Adieu to Thailand”

    “Telenor Retreats from Asian Markets: Sells $3.9 Billion Stake in True Corporation, Bids Adieu to Thailand”

    Telenor, the Nordic telecom operator, has confirmed its departure from the Thai telecom sector. After a quarter of a century presence in the country, the company is selling its majority stake in True Corporation. This development is part of Telenor’s strategic withdrawal from the Asian marketplace.

    Details of the Deal

    The agreement outlines that Telenor will sell its 24.95% share in True Corporation to Arise Digital Technology Company. The sale price is set at NOK 32.3 billion. The buyer, Arise, is a company run by Thai businessman Khun Suphachai Chearavanont. Furthering the deal, both parties have reached a consensus allowing Arise to purchase Telenor’s residual 5.35% stake within the forthcoming two years. The cost for this additional acquisition is NOK 6.9 billion.

    Withdrawal from Asia

    The exit from Thailand’s market echoes Telenor’s recent business moves in other Asian territories, epitomizing the company’s ongoing strategy of pulling out of Asia. Notably, it recently sold its Pakistani business to Pakistan Telecommunication Company Limited for upwards of USD 500 million. The company is now placing a greater emphasis on strengthening its Nordic foundations.

    Telenor still has a presence in Bangladesh and Malaysia through its holdings in Grameenphone and CelcomDigi, respectively. Previously, Telenor operated in both India and Myanmar, but has since withdrawn from these markets.

    Remarks from the CEO

    Telenor’s CEO, Benedicte Schilbred Fasmer, expressed satisfaction with the arrangement made with Arise. She noted that at the company’s Capital Markets Day in November, they had mentioned their search for opportunities to create structural value in Asia. With the completion of Telenor Pakistan’s sale in December and the agreement to sell their shares in True, she believes they have made significant progress towards that goal.

    Telenor’s journey in Thailand began in 2000 when it acquired shares in Total Access Communication (TAC). TAC later became dtac, one of the largest mobile operators in the country. In 2023, dtac and True merged to bolster its competitive stance against the market leader, AIS.

    Questions & Answers

    What is the significance of Telenor selling its stake in True Corporation?
    The sale of Telenor’s stake in True Corporation marks the company’s exit from the Thai telecoms market, signifying a strategic pullback from Asia and a refocus on its Nordic operations.

    What other recent business moves has Telenor made in Asia?
    Besides its exit from Thailand, Telenor recently sold its Pakistani business to Pakistan Telecommunication Company Limited. The company has also previously ceased operations in India and Myanmar.

    Which Asian markets does Telenor still operate in?
    Telenor maintains its presence in Asia through its holdings in Grameenphone in Bangladesh and CelcomDigi in Malaysia.

  • Chow Tai Fook Sparkles in Bangkok, Setting Global Expansion Plans into Motion

    Chow Tai Fook Sparkles in Bangkok, Setting Global Expansion Plans into Motion

    Chow Tai Fook Jewellery Group, the well-known retail giant of the jewelry industry in China, is expanding its market beyond its borders, eyeing growth potentials in the Southeast Asian region. This strategic move commences with the opening of a brand-new outlet in Thailand.

    Thailand Flagship Store

    The enterprise unveiled its flagship store in Bangkok, located in the high-end Siam Paragon shopping and lifestyle complex. This expansion is seen as a response to the escalating market saturation, pricing pressure, and decelerating domestic demand in the world’s second-largest economy.

    Sonia Cheng, Vice Chairman of Chow Tai Fook, expressed her confidence in the company’s international growth, noting the robust momentum particularly in Southeast Asia.

    Future Expansion Plans

    The jewelry group has more ambitious expansion plans in the pipeline. They are set to open their pioneer store in Australia and another one in Canada by the end of June. Moreover, the company intends to penetrate the Middle Eastern market within the forthcoming two years.

    Cheng reiterated the company’s commitment to sustainable and value-added growth, citing Dubai and Doha as their next target markets. This, she said, showcases the enduring global appeal of their brand.

    In line with the trend of Chinese brands venturing into the international scene, Chow Tai Fook is keen to evolve from low-cost manufacturing to fortify its international presence in the lifestyle and consumer sectors.

    Brand History and Challenges

    Chow Tai Fook, a brand with a rich history that spans almost a century, has seen its fair share of challenges. In recent years, it has faced competition from emerging brands like Laopu Gold. The latter has gained traction with consumers, offering a luxury retail experience paired with traditional Chinese craftsmanship in jewelry.

    In a strategic move to bolster its brand image, Chow Tai Fook appointed the Chinese actor Yang Yang to be its global brand ambassador.

    Questions & Answers

    What is the reason behind Chow Tai Fook’s international expansion?
    The company is expanding internationally in response to increasing market saturation, pricing pressure, and slowing domestic demand in China.

    What are Chow Tai Fook’s future expansion plans?
    Chow Tai Fook plans to open new stores in Australia and Canada by the end of June and aims to penetrate the Middle Eastern market within the next two years.

    Who is Chow Tai Fook’s new global brand ambassador?
    Chow Tai Fook has appointed Chinese actor Yang Yang as its global brand ambassador.

  • HSBC Private Bank Revamps Asian Leadership: Key Appointments in India, China, and Thailand

    HSBC Private Bank Revamps Asian Leadership: Key Appointments in India, China, and Thailand

    HSBC Private Bank, the private banking division of HSBC, has recently announced several significant leadership appointments across its Asian operations, with a particular focus on the India and China markets.

    Focus on India

    The global India team has welcomed Phaneendar Bhavaraju and Rangan Krishnan as senior relationship managers. Both report to Manoj Ramarao, who is the Senior Desk Head for global India, Singapore, and Hong Kong.

    Bhavaraju brings to the table more than 28 years of experience across several financial sectors, including foreign exchange, rates, derivatives, precious metals, private banking, and structured finance. He previously held the role of Chief Investment Officer at various asset management companies in the Dubai International Financial Centre. Bhavaraju’s past experience also includes nine years of serving in private banking roles at both RBS and Credit Suisse.

    Krishnan, on the other hand, has over 31 years of wealth management experience. He was previously at the Bank of Singapore where he spent nine years leading a team that managed ultra-high net worth clients, family offices, and institutional portfolios. His resume also includes roles at ANZ, Credit Suisse, ABN AMRO Bank, and DSP BlackRock Mutual Fund.

    China & Other Markets

    In China, Alex Liu has been appointed as the Market Head of Offshore China. His coverage now extends from Hong Kong to Singapore. Liu reports to Kanas Chan, the head of North Asia and Hong Kong.

    In addition to the appointments in India and China, Dawn Fung has assumed the role of Head of Wealth Planning for Southeast Asia. With over 25 years of experience in banking and trust, Fung reports to Ann Ling, the Regional Head of Wealth Planning and Advisory for Asia Pacific, and Tommy Leung, the Head of Private Bank for South Asia.

    Onshore Thailand

    In Thailand, William Fok has been named the Country Head of Private Bank. Fok, who is based in Bangkok, reports to Benjamin Wang, the Desk Head for Thailand and Vietnam. Fok has more than 20 years of experience in structured products and investment advisory. Before taking on this role, he was a Senior Investment Counsellor at LGT. Fok is returning to HSBC Private Bank after having worked there for almost five years earlier in his career. His past employers also include Julius Baer and Morgan Stanley.

    Questions & Answers

    Who are the new senior relationship managers for HSBC Private Bank’s global India team?
    Phaneendar Bhavaraju and Rangan Krishnan have been appointed as the senior relationship managers for the global India team at HSBC Private Bank.

    Who has been appointed as the Market Head of Offshore China for HSBC Private Bank?
    Alex Liu has been appointed as the Market Head of Offshore China, expanding his coverage from Hong Kong to Singapore.

    Who is the new Country Head of Private Bank for HSBC in Thailand?
    William Fok has been named the Country Head of Private Bank for HSBC in Thailand.

  • Revamping Bangkok: A Sneak Peek at Pedestrian-Centric Vision for New Cycling Bridge Over Chao Phraya River

    Revamping Bangkok: A Sneak Peek at Pedestrian-Centric Vision for New Cycling Bridge Over Chao Phraya River

    Bangkok is currently evaluating proposals for a pedestrian and cycling bridge across the Chao Phraya River. This initiative is part of an effort to rejuvenate the city’s historic old town and create a fresh, urban landmark. The Bangkok Metropolitan Administration has recently released concept images, which include designs from an acclaimed international architecture company, MVRDV.

    Bridge Vision

    The proposed bridge aims to enhance cross-river connectivity between Phra Nakhon and Thonburi districts. At present, citizens largely depend on road bridges or limited-hour ferry services for these crossings. The bridge is intended solely for pedestrians and cyclists, filling a crucial gap in Bangkok’s transportation infrastructure.

    In addition to serving as a safe route for daily commutes, the bridge is also expected to boost cultural tourism in historic communities on both sides of the river. It provides a platform for walking, relaxing and appreciating river views, reflecting Bangkok’s “walkable city” principles. These principles emphasize an improved quality of life, reduced reliance on cars, and the promotion of environmentally sustainable modes of transport.

    Project Status

    Officials have indicated that the project is currently in the study and preliminary design phase, with an environmental impact assessment being prepared. Any actual construction is yet to be approved and will be subject to review and budget sanctions by the Bangkok Metropolitan Council.

    Questions & Answers

    What is the purpose of the proposed bridge?
    The bridge aims to enhance cross-river connectivity and boost cultural tourism. It is intended solely for pedestrians and cyclists, filling a gap in Bangkok’s transportation infrastructure.

    What principles is the bridge project based on?
    The bridge project reflects Bangkok’s “walkable city” principles which emphasize an improved quality of life, reduced reliance on cars, and the promotion of environmentally sustainable modes of transport.

    What is the current status of the bridge project?
    The bridge project is currently in the study and preliminary design phase. Any construction is yet to be approved and will be subject to review and budget sanctions by the Bangkok Metropolitan Council.