Jaspal Co, a Thai fashion and lifestyle retailer, is getting closer to its ambitious plan to become a regional company after recently being awarded a licence to distribute and market Diesel, a renowned Italian fashion brand, in Thailand and Vietnam.
Anand Singhsachathet, the company's general manager for new business development, said to achieve its goal it is essential for Jaspal to simultaneously foster the growth of its in-house fashion brands and expand its business as an authorised importer and distributor of famous brands in Asean, allowing the company to serve all customer groups.
At the end of 2022, the company acquired the right to become an official distributor of Diesel, an Italian fashion brand in Thailand and Vietnam.
He said the company has already opened the first flagship store of Diesel on the first floor of CentralWorld mall to reach Thai shoppers and foreign tourists with high purchasing power.
The store is designed under the concept of "Sunshine" with bold usage of the colours red and white. The store features a full range of items including must-have items like jeans, bags, belts and shoes, all of which are enjoying high demand from customers.
The opening of the first Diesel store at CentralWorld is part of its plan to utilise a strategic location and global destination where its business can enjoy high traffic of Thai shoppers and visitors from around the world who have high purchasing power and are the main target customers of the brand.
Diesel is also available at Central Ladprao, Central Chidlom and Central Phuket Floresta department stores.
"Adding Diesel to our product portfolio has reinforced our strength and ability to become a regional fashion and lifestyle retailer with outstanding experience and expertise in the fashion market. We want to show that we are ready to manage global brands and can ensure their success in Thai and Asean markets," Mr Anand said.
In addition to Thailand, the company also opened its first Diesel store at the Takashimaya department store in Vietnam.
According to Mr Anand, Vietnam has high market potential, with the fashion apparel market there worth up to US$5.91 billion in 2022 with a growth rate of an average 5.54% per year.
The lion's share belongs to woman's fashion apparel with $2.95 billion. Moreover, the demand for fashion continues to grow there and the Vietnamese have higher spending power due to rapid urbanisation.
He said the company began expanding its presence to other Asian countries in 2008, and in 2022 the company managed its fashion business in three countries with a total of 70 stores via various brands such as LYN, CC Double O, Jelly Bunny, CPS Chaps, Mango, Super Dry, Fred Perry and Champion.