Diamond trader branches out

“My husband’s family has run the Petchthong Yawarat gold shop for more than 40 years. In 2002, we started to provide a pawn service for valuable items such as diamonds, gold and watches,” said Wirarat Virarat, 33, who graduated in business administration from the University of the Thai Chamber of Commerce in 2001.
Virarat said she started to sell unredeemed pawned items on Siambrandname.com, a well-known online community for trading of authentic brands and accessories, about eight years ago. |She could sell between Bt2 million and Bt3 million worth of unredeemed items, especially diamond ornaments, a month at that time.
Seeing a great potential for online shopping, Virarat five or six years ago opened her own website, Siampetch.com, to sell diamond ornaments online.
The Siampetch website has attracted more than 1.8 million visitors so far.
Virarat opened her first retail outlet for diamond ornaments at Mega Bangna about three years ago. She held the grand opening of the second Siampetch outlet, on the third floor of the Central Latprao shopping complex on Wednesday, October 7.
“Key customers include newlyweds, fashion lovers and those who want to speculate on prices,” said Virarat, adding that she plans to open another Siampetch retail outlet at CentralPlaza WestGate next year.
“I believe in the great potential of the diamond-jewellery business in Thailand. The market is still small but with huge potential [for] greater numbers of potential customers,” she said.
Virarat said Thailand was still lagging behind many places such as Hong Kong, the United States and Dubai in terms of design and technology.
Virarat said she fell in love with diamonds when she was young. |For her, diamonds are one of the most beautiful things in the world, along with women.
Like other rare items, diamonds have enjoyed continually increasing value.
“My husband, Chatchai, always gives me good advice in terms of investment. He [gives attention to detail] and has long vision and broad point of view,” she said.
Virarat said the company had appointed gold technicians in Yawarat to produce all of its ornament work via contract manufacturing.
They can produce up to 200 diamond ornaments a month.
The prices of diamond ornaments at Siampetch outlets range from Bt10,000 apiece to more than Bt10 million.
She said the main showroom |of Siampetch Group would be opened on Srinakarin Road opposite the Seacon Square shopping complex in about a year and a half to showcase diamond jewellery and ornaments.