CHIC REPUBLIC 2017 BUSINESS PLAN LAUNCH INSPIRATION EXPERIENCE THAT ARE VALUE FOR MONEY#RINA HEY IS THE NEW BRAND FOR NEW GENReal Estate Press Releases Wednesday March 8, 2017 12:40
Chic Republic launches 2017 Business Plan targeting 5 – 10% growth in sales due to real estate market's new strategies, focusing on middle to high-end market. We prepare to collect full year's revenue from the new branch on Ratchapruek road. We are ready to move forward with the new brand "Rina Hey", designed for youngsters, new couples or new families.
The company continues to reinforce the brand strategy 'Value for Money' and is confident in heading to be the top furniture and home decor retailer in the middle to high-end market. We are moving at a fast pace to expand Rina Hey's shop in every Chic Republic's store and we also plan to increase one more store for Chic Republic.
Mr. Kijja Pattamasattayasonthi is the Chief Executive Officer of Chic Republic Co., Ltd, the First Home Fashion Store in Thailand. We are a global furniture and home decor store with high-standard products comparable to Europe and USA. Under the concept "Home Fashion Store", Mr. Kijja has revealed the company's business plan for the year 2017. He has confidence in the growth of home and fashion furnishings market in Thailand even though the overall economy remains sluggish. Chic Republic's customers and members still have purchasing power and are not spending less. The major residential development companies implement a strategy aimed at upper-middle class to reduce the risk of limited purchasing power and complications in securing credit from financial institutions. We, therefore, foresee that this is an opportunity for us, whose target customers are middle to upper class.
In the year 2017, our business plans are focused on strategies delivering 'value for money' products to customers and creating inspirational new experiences through our product's long-winded history. We expect to grow by 5-10% in 2017 from last year's 860 million baht revenue.
Mr. Kijja said that this year the company would collect revenue from the new branch on Ratchapruek road. He chose this location because of the high purchasing power within households in this area. Major real estate companies are also launching various middle market household projects here. This branch has the biggest sales area with more than 12 acres space. The building will catch your attention from the first glance with its distinctive "European Village" style, transporting you back to Provence. There are more than 250 parking spaces available as well as famous restaurants to accommodate the customers' lifestyle, drawing them for more visits.
Most importantly, the company recently launched a new brand called 'RINA HEY', introducing "Industrial Loft" furniture and interior decorations. Rina Hey was born to support a new generation of youngsters, first jobbers or new couples who just started a family and have a desire for unique, industrial style furnitures. Rina Hey is the answer to the residential lifestyle of new generation where houses, townhouses or small condominiums have limited space. The products' modern and compact size has a strong identity. The unique design and masterfully crafted product resonates the "Value for money" and "Inspiration & Experience" concept clearly.
Mr. Kijja said that the company intends to push Rina Hey brand in a completely different direction. Both the investment plan and marketing plan for this brand will be separated from Chic Republic. This can establish Rina Hey as a strong and independent brand in the long run. No later than this year's 2nd quarter, the company will increase Rina Hey to all branches of Chic Republic; Praditmanutham Store (Ekamai-Ramintra Expressway), Bangna Store (Bangna-Trad Road KM.4) and Pattaya Store (Opposite Big C South Pattaya). In the future, the company also has plans to open one stand-alone store especially for Rina Hey. The prime focus will be in several areas in big cities where there is high purchasing power.
Rina Hey's business plan is aimed at new generation with its unique and individualistic style. Therefore, we will focus on online marketing and digital platform. As of now, the company has already begun developing social media strategies on Facebook, Instagram, and Line accounts. Plans are also underway for the new website interface which will be launched in July 2017. As the market trends all lead towards digital platform and especially e-commerce, the marketing strategy for Rina Hey will be geared towards online business this year. This will raise awareness about the new brand and enable us to target potential customers.
Chic Republic continues to move forward in digital marketing direction. Right now, we interact with customers through social media platform, mostly Facebook, to effectively communicate with customers and build long-lasting relationship. The company drives to open its new e-Commerce website in June. We do not expect sales from e-Commerce in our early stage. However, we expect this to be the channel where customers can learn more about the companies and our products as well as conveniently select and purchase them. The company is in the works, preparing to expand another branch in Bangkok's prime location. This will enable us to cover more grounds. According to our business plan, we anticipate to invest approximately 300-400 million baht per branch overseas.
This year the company aims to increase the revenue in high-end real estate projects by around 25-30% and to increase retail customers segment by 75%. Currently, the company is undergoing negotiation with major traders who are interested in decorating client's room with unique furniture and fashionable interior design. Some of the company's major clients are Toscana Valley Khaoyai, Sansiri, Land & House, Grand Unity Development, AP, SC Asset and Golden Land.
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