DKSH to double Thai luxury business
Market expansion service provider DKSH Thailand has announced plans to double the scale of its Thai luxury and lifestyle business within two years.
The firm has picked up three international brands this year, with another Italian lifestyle brand to be added to its portfolio next year.
Included in the expansion is a THB30 million (US$913,800) investment in a new 200sqm flagship Bally store in Thailand, opening at Iconsiam on Friday (November 9).
DKSH regional VP of luxury and lifestyle business Franck Giacobini 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.”
He added that DKSH will allocate a huge investment to the Thai market, considering the country’s high-end retail complexes and strong tourism.
President of DKSH Thailand Douglas Humphrey added: “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.”