The Platinum Group Announced 2017 Financial Performance With Double-Digit Revenue and Profit Growth Preparing to Welcome Foreign Tourists with Comprehensive Activities in 2018

Real Estate Press Releases Friday March 9, 2018 12:48
Bangkok--9 Mar--IR PLUS
  • "The Platinum Group" revealed its high financial performance of 2017 with its revenue and profit hitting the double-digit growth. The total revenue was 2,059 million Baht, having increased by 196 million Baht or 11%, while the profit reached 772 million Baht, having increased by 68 million Baht or 10%.
  • The Company invested in the construction of a new building to expand its warehousing and logistic capacity to support the growth of wholesale businesses.
  • The Company prepares to welcome tourists with the plan to organize extensive activities in 2018 in correspondence with the needs of foreigner tourists.

"The Platinum Group" or PLAT announced high financial performance of 2017 with revenue and profit hitting the double-digit growth. The Company's total revenue was 2,059 million Baht, having increased by 196 million Baht or 11%. Meanwhile, its profit was 772 million Baht, having increased by 68 million Baht or 10% from year 2016. The Company further revealed its investment plan to enhance the efficiency of promotional campaigns for retail stores, while stimulating foreign tourists to visit the mall in a group basis, which achieved the growth of 33%.

Mr. Chanchai Phansopha, President of The Platinum Group Public Company Limited or PLAT –the leading commercial real estate developer –concluded the Company's 2017 financial performance with double-digit revenue and profit growth. The Company's total revenue and profit were 2,059 million Baht and 772 million Baht, having increased by 196 million Baht or 11% and 68 million Baht or 10% from year 2016, respectively. The main sources of revenue were from rental and services (61%), hotel operations (19%), food and beverages (13%), and other revenues (7%).

The Company invested in the construction of a new building behind The Platinum Fashion Mall, Zone 1. The building covers an expansive area of 1,170 square meters; whereby 200 square meters are allocated to offices, conference rooms, and recreational areas in order to support the provision of services to the lessees in a more convenient manner and to bestow additional benefits on the employees, respectively. In addition, the Company also allocates a total area of 85 square meters for warehouse rentals and logistic purposes to support the growth of wholesale businesses. The building is expected to be open for service in the third quarter of 2018.

Moreover, the Company has initiated a plan to adjust the landscape of The Platinum Fashion Mall in order to provide a more relaxing experience to customers by adding green areas to the first floor in front of Zone 3 of The Platinum Fashion Mall (Novotel Bangkok Platinum Pratunam Hotel Zone) and the skywalk on the second floor (between Zone 2 and 3)

The Company has also stimulated the development plan on the promotion of retail stores under the project, "The Platinum Empowering SMEs", by providing advices to Thai SMEs to establish their brands, improve competitiveness, increase revenues, and achieve a sustainable growth in both domestic and international fashion industries. In the first phase, the Company will select 100 retail stores form The Platinum Fashion Mall that embrace the potential and readiness to participate in the project, in order to maintain quality according to the prescribed standards. Regarding initial privileges for the participating retail stores, they will have the opportunities to engage in Business Matching for both domestic and international, as well as attend training courses on brand creation to increase sales, media design and production for public relations, and many more. Ultimately, the project aims to create unique selling propositions for all 100 retail of The Platinum Fashion Mall stores to serve as the model of Thai SMEs and to become regionally recognized across ASEAN, under the shared objective between the mall and retail stores to become "The Best Wholesale Fashion Hub of ASEAN".

With the aim to expand services and maximize satisfaction of both customers and Tenant in The Platinum Fashion Mall, the Company has implemented a plan to welcome Thai and foreign tourists in a group basis. Such strategic plan includes coordinating with and recommending services to various agencies, such as training and seminar organizers and travel agencies in the country and abroad that intend to visit Thailand's largest wholesale fashion mall in the heart of Bangkok. With that regards, the mall has prepared a team of coordinators to closely attend to tour guides since before stepping into the mall by providing parking convenience, discounts of participating stores, and special promotions for tourists. Likewise, the mall has prepared staff to recommend appropriate zones for customers in order to facilitate their purchasing decision in selecting products that best correspond to their needs.

Regarding the circulation of both Thai and foreign customers who visited the mall in 2017, the rate increased by 15%. The majority of foreign visitors were from Singapore, Malaysia, Indonesia, and other countries in Asia. Meanwhile, the number of foreign tourists who travelled by tour coach and bus increased by 33% – most of whom were from Indonesia, Malaysia, Myanmar, and Cambodia. Another mode of transport enjoyed by foreign tourists during 2017-2018 is a procession of "Tuk Tuk" of approximately 50-100 vehicles, which was considerably popular amongst Asian tourists.

Additionally, the Company also plans to stimulate foreign tourists to visit a brand new tourist attraction to shop, chill, eat, drink, and enjoy nightlife at "The Neon Night Bazaar" on Petchburi 23-29 road, which was launched in December 2016 and has been continually popular amongst foreign tourists. The Neon Night Bazaar is on an expansive area of 10 rai with over 800 stores and 200 parking spaces. The project has been renovated to better correspond to the needs of foreign tourists, while its operating hours have been extended to 16.00-24.00 hrs. in October 2017. In terms of the proportion of customers who visit The Neon Night Bazaar, 70% are foreign visitors and the remaining 30% are Thai visitors. The most popular means of transport amongst foreign tourists are "Tuk Tuk", tour coach, and bus. Moreover, foreign tourists also prefer to travel by BTS skytrain and on foot, concerning the fact that the project is located within close proximity to over 200 hotels and accommodations. With regards to Thai visitors, the majority of them are office workers and local residents.

Concerning the activities that have been prepared by The Platinum Fashion Mall for 2018, the key concept is "Fashion Food & Gift", which will be organized at The Platinum Street in front of The Platinum Fashion Mall to unveil a new and unique experience for customers, while stimulating them to purchase a wide selection of products with joy and excitement. A brief overview of some interesting activities include:

  • The Platinum Lady Fair 2018 on 16th - 29th March 2018. Discover an array of women's products from head to toe through 50 participating fashion stores, receive discounts and get a chance to win the lucky draw, and enjoy the dazzling fashion show.
  • World of Taste 2018 on 20th April - 3rd May 2018. Indulge in international cuisine and popular Thai dishes with over 200 menus from 50 restaurants.
  • The Platinum Summer Fest on 23rd April - 5th June 2018. Inviting you to update the summer fashion trend and enjoy the stunning fashion show with exclusive promotions and discounts from 50 participating stores.
Additionally, The Platinum Fashion Mall has also prepared many other events and activities to impress all shoppers throughout 2018, accentuating its fame as "The Best Wholesale Fashion Hub of ASEAN".

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