Alist Private Co, an importer and distributor of German cameras and equipment, is gearing up to expand its presence in Thailand despite unfavourable global and domestic economic conditions.
The company opened a new 70-square-metre branch at Emporium shopping complex in Bangkok and is targeting 30% sales growth this year to 180 million baht.
Danai Sorakraikitikul, managing director of Alist Private, said Leica can expand amid a poor economy as the company targets high-end consumers, many of whom have seen their financial portfolios grow sizably amid the pandemic.
"Our target customers are true fans with purchasing power and unique preferences," he said. "Moreover, our products are unique in quality through precise production by highly-skilled experts to develop the best quality lenses with the aim of developing products which serve the needs of customers rather than following trends."
Alist Private is also adjusting its marketing strategy to attract younger buyers. Some 38% of its customers are aged around 40 years old, while 14% are 23-30 and only 1% are under 22.
The new store opening coincides with the release of the Leica Q2 Daniel Craig x Greg Williams camera.
"With the rising number of customers, we decided to open the new Leica Boutique at The Emporium to enhance our service capacity from the previous outlet at Gaysorn Village so customers can spend more time with us, as well as to expand Leica's fan base further," said Mr Danai.
The new boutique is decorated in a tone of white which differs from other Leica stores in Thailand, while still maintaining Leica's signature colours of red, black, and grey which reflect modernisation as well as a cozy and relaxing atmosphere so customers can enjoy exclusive experiences and spend more time at the store.