Com7 invests Bt400 million in store expansion, plans SET listing next year
Com7 International, which operates Banana IT, Banana Mobile, iStudio, iBeat, and uStore by Comseven outlets, plans to list on the Stock Exchange of Thailand next year, according to chief executive officer Sura Khanittaweekul.
It is also expanding its outlets nationwide, with an investment of about Bt400 million.
It has already opened 44 new shops this year, with a total of 67 new openings planned by the end of 2014. The company expects revenue of Bt15.6 billion this year, up from last year’s Bt14 billion.
Besides Thailand, Com7 is expanding into Asean. It allowed a business partner to set up Banana IT in Myanmar this year. The firm expects about 10 per cent of its revenue to come from international markets within three years.
Sura said the firm planned to inject around Bt75 million into its registered capital, which now is Bt225 million.
The company has created a house brand named Synz, which will provide information-technology accessories such mice and speakers as well as high-end products such as smart watches under the house brand Seven New York.
Com7 plans to expand into supplying computers to businesses in the near future.
Sura said half of its revenue this year came from notebooks and tablets and the rest from mobile phone, desktop computers and other products. It expects net profit this year of Bt230 million, up from last year’s Bt202 million. In the first half of this year, the company posted revenue of Bt7.7 billion.
The outlets it runs saw 50 million visits last year.
The firm now has 278 shops nationwide and expects to have 301 by the end of this year. Wearable devices such as smart watches are posting the most sales growth, with revenue up by 400 per cent this year.
“I think there is a huge opportunity for us to expand in both the domestic and inter-
national markets, since information and communications technology has high growth potential,” Sura said.
