Olymp sets platform for local entry

Olymp sets platform for local entry

Mr Suchart says Asean will drive sales.
Mr Suchart says Asean will drive sales.

German business shirt brand Olymp is entering the local market, aiming to use Thailand as a springboard to expand into Asean.

The company recently appointed SETlisted Thanulux Plc, a clothing maker under Saha Group, to distribute Olymp shirts.

According to Suchart Layluxsiri, deputy vice-president of Thanulux, the company set up a sales and marketing division earlier this year for Olymp shirts in Thailand.

Initially, Thanalux will import Olymp products from the German firm’s production base in Indonesia before starting domestic production in 2020 at Thanulux’s factory in Bangkok.

“The companies have co-developed Olymp shirts to meet Asean customer demand,” Mr Suchart said. “If the shirts prove successful, Thailand will be the production base for Olymp products in Asean.”

Mr Suchart expects to gain 30 million baht in sales from Olymp in the first year of operations, with sales expected to reach 100 million baht within the next three years.

Olymp is a leading business shirt brand in Germany. Olymp products are sold in more than 40 countries and generated revenue of more than 10 billion baht last year. The company has four factories in Asia (in China, Vietnam, Indonesia and Bangladesh) and three factories in Europe.

European markets continue to flounder, Olymp has grown more active with its Asean expansion, starting in Thailand.

“Asean is a promising market because of its big population,” Mr Suchart said.

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