When Wacharamongkon Benjathanachat set up his company in 1996, the president of Bathroom Design Co never expected to end up with more than 10 million baht in debt when the market crashed a year later during the tom yum kung crisis.
‘Instead of trying to become the fifth tiger nation, it’s better for us to be a hard-working buffalo,’ says Mr Wacharamongkon.
Back then, the baht fell sharply to a low of 56 to the US dollar, making his imported sanitaryware products too expensive for the domestic market. Mr Wacharamongkon was forced to lay off workers.
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