Index Creative Village to tap Cambodian market next year
INDEX CREATIVE VILLAGE, the country's leading event management company, will expand its business into Cambodia next year by organising trade fairs in response to its clients' need to capitalise on the Asean economic integration.
“Cambodia will be our next destination after establishing business units in Myanmar, Vietnam and Malaysia over the last couple of years. This neighbouring country has the potential to grow mainly driven by young consumers. This also offers a huge opportunity for Thai businesses,” Kriangkrai Kanjanapokin, co-chief executive officer of Index Creative Village, told The Nation early this month. He explained that trade fairs are a platform to facilitate an engagement between Thai enterprises and Cambodian traders and consumers.
In line with the implementation of the Asean Economic Community this year, this is the right time for Thai brands to make a move to Cambodia, where Thai products are well-recognised by the 15.67-million population.
He said his company would meet its clients’ need via trade fairs and marketing activities in Cambodia.
“We will extend and duplicate our best practices at home to the neighbouring country,” he said.
Cambodia will be the fourth market into which Index Creative Village has expanded. In 2012, the company officially entered Myanmar by forming a joint venture firm with Yangon-based media company “Forever Group” in an attempt to raise the bar of event organising in Myanmar. In the same year, the company also established “TVM Index’ in Vietnam. In 2013, Crave Index was launched to provide a full-service digital agency in Malaysia.
The CEO described Myanmar as the test pad for the overseas market. The company is, therefore, making a big effort in this country by adding a series of business activities such as trade fairs in major cities with extended marketing services to second-tiers cities. They will launch activities such as “Dandaree”, a Myanmar cultural performance, and TV content production.
The company expects to see growth of between 10 and 15 per cent this year with revenue of Bt1.7 billion, mainly driven by its creative solution, marketing services and overseas business.
He added that although the local event industry was experiencing slight growth of |5 per cent to Bt12.3 billion this year, his firm’s growth was expected to be positive. Of its |total revenue, 55 per cent would come from creative solution services and the rest from marketing services, overseas business in Myanmar, and Vietnam and lifestyle experience services.
