Rev Edition aiming for B2.2bn in sales this year
published : 1 Feb 2023 at 04:00
newspaper section: Business
writer: Pitsinee Jitpleecheep
Rev Edition Co, a wholly-owned Thai specialty retail chain for sporting goods and an authorised distributor of Nike and Under Armour, has set proactive plans to boost its sales to reach 2.2 billion baht this year, up from up 1.8 billion last year.
Pornsak Chinawongwatana, the company's chief executive, said the overall market for sports shoes this year is expected to be more active than last year as more people had resumed outdoor activities, including going out shopping, travelling both within the country and overseas, exercising, and attending sports events. It is anticipated that the number of sporting events to be arranged in 2023 would reach almost 80% of the level recorded before the pandemic, when 1,000 events took place.
"People's point of view on running has changed. The average age of runners over the past decade was 40, but now the average age of runners is down to 20,'' he said.
With such signs of support, the company plans this year to add 3-4 new sporting shoe and lifestyle brands to its existing portfolio of 12 brands, which includes Nike, Under Armour, Saucony and Asics.
Mr Pornsak said the company also plans to open six new Rev Runner specialty shoe stores this year, bringing the total number of Rev Runner outlets to 46.
The company is also planning to open its first REV Runner shops in Malaysia in the third quarter this year.
Mr Pornsak said the company plans to open six new branches of Rev Runner stores in 2023.
The company plans to celebrate Saucony's 125th anniversary by launching the "Take Courage" campaign, with the aim of reaching more runners -- its main target group -- while expanding to new targets, such as young people who are interested in physical fitness, fashion and lifestyle enthusiasts, and tourists.
Saucony products have been available in the country since 2020. There is a Saucony store at Siam Center and the first pop-up store is located at Siam Discovery. The firm will launch the new Endorphin Elite and Kinvara 14 running shoes in March this year.
"Due to the pandemic, people have been encouraged to feel more concerned about their health, leading sporting goods to receive less of an impact than other product categories during Covid-19. Moreover, the company has now extended its distribution to cover 75 points of sale via retail sporting goods chains," said Mr Pornsak.
Overseas, the company has started expanding its Saucony business into Malaysia by opening a flagship Saucony store at Pavilion KL in Kuala Lumpur on Dec 24, 2022.
- Rev Edition