DKSH Thailand Ltd, the market expansion service provider, plans to double the size of its luxury and lifestyle business in Thailand over the next two years.
Franck Giacobini, vice-president of luxury and lifestyle business for DKSH Asia-Pacific, said during his visit to Thailand yesterday the Thai branch has added three such brands -- Bally, Ramy and Bellroy -- to its portfolio this year.
Another lifestyle brand from Italy will be added next year, he said.
"Luxury and lifestyle is picking up again and sales are strong. DKSH's luxury and lifestyle business in Thailand will strengthen in the next few years because the country has a young population with high spending power," Mr Giacobini said.
More importantly, Thailand boasts nice high-end retail complexes and welcomes many tourists every year, he said.
"Shopping in Thailand is a very unique experience. DKSH will allocate a huge investment here," Mr Giacobini said.
Douglas Humphrey, president of DKSH Thailand, said the company will continue to expand and invest in the Thai market, citing the company's confidence in Thai economic growth prospects.
"DKSH has been in Thailand for over a century. Our consumer product business in Thailand is the biggest market for the DKSH network globally. We will continue to invest here in terms of people, capability and supply chain in the coming years," said Mr Humphrey.
He is optimistic about its consumer product business unit growing in double digits for 2018-19 because of the company's clear business strategy.
The company's strategies include a focus on millennial customers, addition of new brands with attractive prices and an array of products that have a function for every occasion.
Vanchuen Thongjen, senior manager of luxury and lifestyle business at DKSH Thailand, said the company distributes and markets six luxury and lifestyle brands including Bally shoes from Switzerland, Lamy, writing instruments from Germany and Bellroy, lifestyle leather products from Australia as well as Montblanc, Maurice Lacroix and Aigner.
DKSH has been an authorised seller of Lamy in Thailand since May 2018, followed by the launch of its new concept store at Siam Discovery.
Lamy's lifestyle accessories are available at B2S in Central Department Store and retail outlets in The Mall Department Store. Lamy is available in over 100 retail outlets throughout Thailand.
DKSH plans to spend 30 million baht to open the first flagship Bally store in Thailand, covering 200 square metres, at Iconsiam on Nov 9.