Wave lengthens growth plan

Wave lengthens growth plan

Wave Entertainment Plc expects to generate 2 billion baht in revenue this year after reinforcing its status as a lifestyle and entertainment leader.

Chief executive Matthew Kichodhan said his company would seek partnerships and make acquisitions to continue its expansion.

"We plan new investments in the form of acquisitions and partnerships with products and services that appeal to the new generation, which can be supported by our media and entertainment sectors," he said.

Wave plans to produce diverse and unique products, services and programmes to entertain and fulfil the comprehensive lifestyle of Thai consumers.

The company has set a policy to expand its lifestyle business, shifting from the previous focus on TV content production, concerts and other entertainment.

Last year, Wave spent nearly 1.5 billion baht to enter the education and retail food sectors.

Last May, the company acquired Efficient English Services Co (EES), which teaches English under the Wall Street English brand licensed from Pearson Plc.

Pearson is the world's biggest educational publisher and also owns Penguin Books, the Financial Times newspaper and The Economist magazine.

Last December, Wave entered the retail food sector by acquiring Jeffer Restaurant Co through the Wave Food Group subsidiary.

The purchase provided a strong network of nearly 80 restaurants nationwide, a central kitchen and more than 1,200 employees.

Mr Matthew said Wave would continue to expand this year to reaffirm its status as a full-scale leader in lifestyle and entertainment.

"We welcome new opportunities from the opening of the Asean Economic Community in late 2015," he said.

Wave TV will produce three shows this year including two drama series, while the iWave unit will organise concerts and other entertainment.

Six concerts by local and international artists will take place.

Wall Street English, operated by EES, plans to open another branch, adding to the existing eight in Bangkok and one in Chiang Mai.

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