Mumuso Thailand turning to franchising
International lifestyle retailer Mumuso Thailand plans to open up to 20 franchised stores by the end of next year, and up to 150 in the next five years.
From Shanghai, the company promotes lifestyle products with a Korean flare. The brand moved into Thailand in August with a Mumuso lifestyle shop opening in The Mall Nakhon Ratchasima. It now has seven outlets, the latest being its first franchised outlet for Thailand.
Mumuso (Thailand) strategic director Pakom Supawarapong says the company sees a growth opportunity in Thailand, including specialty stores.
“It’s not all about e-commerce these days as the trend for specialty stores is something we all need to be aware of,” says Pakorn. “We expect our annual sales to reach THB2 billion [US$62.5 million] in the next five years. We target to achieve THB200 million in annual sales this year.”
Mumuso (Thailand) president Amnuay Supawarapong says the brand has more than 600 branches in 150 cities. In Thailand, it has stores in Ayutthaya, Bang Saen in Chon Buri, Phitsanulok, Samut Sakhon, Siam Square One, Supanburi and The Mall Nakhon Ratchasima. The Phitsanulok shop, which opened this month, is the company’s first franchised outlet in Thailand.
About 3000 different items of merchandise at Mumuso lifestyle shops cover children’s products, apparel, kitchen items, bags, stationery, skincare and cosmetic goods. Pakorn says the company has set aside THB150 million for this year, focusing on promotional activities at its stores.