Com7 invests ahead of SET listing
Com7 plans to invest Bt500 million on opening new stores, refreshing old stores and supporting marketing with an eye to listing on the Stock Exchange of Thailand in the second half of next year.
“We set the budget to open 66 shops in order to expand our customer base and renovate 60 shops so that they will invite new customers to purchase IT products and participate in our shops,” CEO Sura Khanittaweekul said yesterday.
“The renovated shops will be able to increase revenue 4-20 per cent,” he said.
It targets growth in total revenue of 15 per cent to Bt16.5 billion next year from Bt14.9 billion expected this year.
The IT retailer has budgeted Bt350 million to launch 66 stores, divided into 21 Banana IT shops, 22 iStudio shops, 13 Banana Mobile shops, two Samsung shops and eight iCare shops.
The budget would also cover remodelling of 50 Banana IT shops and 10 iStudio shops with a new, modernised look.
Next year will see the firm move into the commercial, corporate, small and medium enterprise (SME) and e-commerce markets, which show high growth potential.
The upcountry market especially has promise. Some shops located in the provinces can reach about 40 per cent in SME revenue. However, the firm will start its business focusing on SMEs in the second quarter.
It will also create promotion campaigns for SMEs to gain more revenue. It will use customer relationship management to provide privileges to customers who reorder.
In the third quarter, the firm will provide IT products and accessories via e-commerce at www.mangoshopping.com. About 80 per cent of the catalogue will be differentiated from the IT products and accessories available at Banana IT shops.
Mobile phones and smartphones will make up over 30 per cent of revenue, followed by notebooks and tablets.
“I think that the factors that will drive market and revenue growth next year are 4G, new technology and new products and accessories, which support the lifestyles of customers.
“We have one franchised Com7 located in Myanmar. The firm is also studying the Myanmar market for direct investment to support the new market in the next step,” he added.
