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BANGKOK, July 30, 2019 - (ACN Newswire) - Index Living Mall Plc. (SET: ILM), the leading retailer of home furnishings in Thailand, began trading as ILM at the Stock Exchange of Thailand on 26 July. "I am confident that our business foundation, the strength of the 'Index Living Mall' brand, the variety of our goods and services, as well as our comprehensive distribution channels, will serve to boost the confidence of investors," said Miss Kridchanok Patamasatayasonthi, Managing Director of Index Living Mall Plc.
Index Living Mall has plans to open 2-3 new branches this year to boost growth, with the next branch opening in Chanthaburi this month. It is also proceeding with investments to improve the production efficiency of its factory, as well as install a solar rooftop to reduce energy costs. Additionally, ILM is diving in to expand distribution channels for its made-to-order furniture - Younique - at its Index Living Mall branches, and to spin off a new small furniture shop business model - COCO - that the company will invest in and run directly.
At present the company has opened 36 Index Living Mall and Index Furniture Centre branches in 21 provinces in the country. It is also a rental and service provider under the brands; The Walk, Little Walk, and Index Mall; at nine of those branches. ILM's strong suits are its retail shops, brand awareness and popularity, which attract customers to its retail furniture outlets while strengthening synergy for the main business of the company and give it sustainable growth.
In 2019-2020, 3 new Index Living Mall outlets, with a total investment of 620 million baht, will be opened. The first is in Chanthaburi with a retail space of 3,500 square metres and will be ready for business at the end of July 2019. The second will be in Sukhapiban 3 with 9,200 square metres of retail and rental space, and the third branch will be in Ramintra with a retail space of 3,500 square metres. Both are expected to open for service at the end of 2020.
Investment will be made in small furniture retail shops (COCO) with the name Winner Furniture Centre, which the company will invest and administer itself. ILM plans to open two centres this year with retail space between 1,057-1,700 square metres, and to spread store locations and reach more customers. The company will also expand its sales channels for Younique, the custom-order furniture business, at the various Index Living Mall branches. ILM's strength in technological innovation leads a process of designing and producing furniture which can be completed and delivered within a month. This new business alone is increasing ILM's customer base.
Furthermore, Index Living Mall is turning its attention to reducing energy costs with a project to install a solar rooftop to improve the production efficiency of its factory. It also has other projects such as the renovation of Index Living Mall branches, development of its IT system, and paying off loans from financial institutions, which will benefit its financial cost reduction.
Mr Phichet Sithi-Amnuai, President of Bua Luang Securities Pcl., in his capacity as financial adviser and underwriter, said that ILM's fundraising and listing on the stock market have received good response from investors through its Initial Public Offering (IPO) of 105 million shares at 22 baht per share. "Investors were confident in the company's business potential and that its investment expansion plans will create future growth," Mr Phichet said.
ILM's business operation is considered comprehensive since it is the designer, manufacturer and distributor of home furnishing products. Its full-service operation gives it competitive advantage and diverse customer base that include retail customers, business projects, and international markets under the franchise business model. It is expected that the home furnishing retail business will be supported by the rapid urbanisation of communities in the provinces and regions, as well as by investment in the development of the transport infrastructure, which will benefit the expansion of housing and increase the demand for home decoration products and furniture.
Distributed by MT Multimedia Co. Ltd.
for Index Living Mall Plc.:
Ms Thiyaporn Sriadunphan (Dah)
Phone: +66 8 7556 6974
Email: thiyaporn.s@mtmultimedia.com
Topic: Press release summary
Source: Index Living Mall Plc.
Sectors: Funds & Equities, Regional, Local Biz
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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