Jaspal aims to be an Asean fashion brand
Jaspal Co plans to promote its fashion brands, especially its Jaspal namesake, to achieve regional recognition after the implementation of the Asean Economic Community (AEC) in 2015.
To do so, it plans to open one or two stores in each Asean country. The investment will start by the end of next year, both through joint ventures with local partners and by itself. It is studying whether its stores should sell all the brands the company handles or concentrate on only one brand.
The company’s own brands are Jaspal, CPS Chaps, CC-OO, Lyn and Lyn Around, as well as imported brands Footwork and Footwork Noir. The firm sells its products in 120 outlets; of these, Jaspal has 37 of its own stores, which will increase to 40-42 this year.
Viseth Singhsachathet, assistant managing director, said the AEC would give the company an opportunity to open outlets in new markets in the region. Vietnam has the most potential.
So far, no mass premium fashion brand has been recognised region-wide. However, Jaspal has been known in Malaysia for three years, with four stores. The firm says it has received a warm welcome from Malaysians, with annual sales of Bt100 million. The stores there were wholly invested in by the company.
Jaspal has been in business for 40 years. It will spend Bt300 million to Bt350 million to open new stores for all seven brands, with five stores for each. In the second half of the year, it plans to launch two new brands.
This year, total sales are expected to reach Bt4.8 billion, up from Bt3.8 billion last year. In 2011, its sales grew 28 per cent from a year earlier. Of the total, 95 per cent came from domestic sales. Over the next five years, the company expects its exports will increase to 30 per cent.
