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NaRaYa accelerates its business expansion, worldwide
19 Jul '10
2 min read
Owing to slump in local sales, post political unrest in the country, which has further reduced the number of tourists, Narai Intertrade Company, manufacturer of NaRaYa fabric products are planning to speed up their international expansion.
More over, the firm is intending to maintain its revenue at around 700 million baht, similar to last year, as its sales were adversely affected owing to political chaos from March to May. Experts opine that, since their key consumers are tourists, every time the country goes through political issues, it affects the business.
Hence, Narai is intending to accelerate the expansion process of its business internationally to counterbalance the effect of domestic political risks. It is planning to launch its first shop in Hong Kong during the next couple of months, thereby, bringing its initial schedule ahead by five months.
NaRaYa will also be making use of motor sports to market its brand. The firm will be sponsoring Meritus Thai racer, Pasin Lathouras, to compete in the 2010 Formula BMW Pacific in lieu of exposing the firm's brand at an international level.
Around 100 million baht will be invested in 8 new outlets in Thailand and across the globe by Narai Intertrade. Of the total, four will be launched domestically at Tokyu department store at MBK, Siam Discovery Centre, Paradise Park and King Power on Soi Rang Nam. The remaining four will be launched worldwide in Dubai, Indonesia, Slovakia and Hong Kong.
The company is still headstrong about opening outlets in prime shopping centres. More so, the firm will also be improving its productivity by inveting 80 million baht to expand output at its Khon Kaen factory by end of the year, to serve rising demand.
Currently, NaRaYa goods are available in over 40 nations in Europe, Asia and North America via sales agents and importers. Overall it has 28 outlets.
More over, the firm is intending to maintain its revenue at around 700 million baht, similar to last year, as its sales were adversely affected owing to political chaos from March to May. Experts opine that, since their key consumers are tourists, every time the country goes through political issues, it affects the business.
Hence, Narai is intending to accelerate the expansion process of its business internationally to counterbalance the effect of domestic political risks. It is planning to launch its first shop in Hong Kong during the next couple of months, thereby, bringing its initial schedule ahead by five months.
NaRaYa will also be making use of motor sports to market its brand. The firm will be sponsoring Meritus Thai racer, Pasin Lathouras, to compete in the 2010 Formula BMW Pacific in lieu of exposing the firm's brand at an international level.
Around 100 million baht will be invested in 8 new outlets in Thailand and across the globe by Narai Intertrade. Of the total, four will be launched domestically at Tokyu department store at MBK, Siam Discovery Centre, Paradise Park and King Power on Soi Rang Nam. The remaining four will be launched worldwide in Dubai, Indonesia, Slovakia and Hong Kong.
The company is still headstrong about opening outlets in prime shopping centres. More so, the firm will also be improving its productivity by inveting 80 million baht to expand output at its Khon Kaen factory by end of the year, to serve rising demand.
Currently, NaRaYa goods are available in over 40 nations in Europe, Asia and North America via sales agents and importers. Overall it has 28 outlets.
Fibre2Fashion News Desk - India
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