Nam Silp Thai Eyewear peers at 15% growth
Nam Silp Thai Eyewear Co Ltd expects growth of 15 per cent this year, compared to 10 per cent last year, partly generated by two new fashion eyewear brands to be launched in May and November.
With contract talks under way managing director Wirach Pracharktam declined to name the brands. He said the brands shared the same target group as the company: customers aged 20 to 40. Eyewear in the middle range accounts for 20 per cent of the Bt5-billion spectacle market. High-end accounts for five per cent, and the mass market 80. This year, Wirach expects the eyewear market to grow 4-5 per cent. He said cheaper Chinese brands were infiltrating the market, forcing the firm to stop distributing some mass-market items because of small profit margins. This year, the company plans boost sales of its luxury brands after dropping 5-10 per cent last year. The company also hopes to tap the global fever of World Cup 2006 this June by launching a limited edition of Adidas model A365. The special edition will be sold from April to July, priced at Bt5,500. Wirach said sales from Adidas usually accounted for five per cent of the company's total revenue. Overall sales last year were Bt300 million. To market Adidas, Nam Silp Thai Eyewear will devote 5-10 per cent of expected sales from the brand as a marketing budget. - Nitida Asawanipont, The Nation
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