Thai flip-flop innovator sees surge in sales to student and tourists

The company’s growth estimate is higher than the anticipated growth of the overall market for student shoes, which is expected to range from 3-5%, he said.

The market for all types of student shoes in Thailand is currently worth around 5 billion baht, Chakrapol said.

In the student canvas shoe segment, Nanyang is the leader with a 43-44% market share, he said.

Chakrapol pointed out that Nanyang's optimistic growth this year is due to Thailand's ongoing economic recovery.

Parents' purchasing power is returning. This means they are willing to purchase new student shoes for their children before the start of the new semester in May.

Meanwhile, the global popularity of "Sepak Takraw," a local Southeast Asian ball game, and Teqball, a ball sport played on a curved table that combines elements of sepak takraw and table tennis, has increased demand for Nanyang’s student canvas shoes.

Those games, he said, help shape the image of Nanyang's canvas shoes in the same way that basketball and football created a new market for athletic shoes.

He said Nanyang shoes go beyond their functions. They add style and meet the emotional needs of consumers.

The company's overall growth will be fueled by its Chang Dao flip-flop brand, Chakrapol said.

He claimed that Nanyang Chang Dao's flip-flops have become a must-have item for foreign tourists looking to experience authentic Thainess.

With the tourism industry performing well, Chang Dao flip-flop sales will increase significantly this year, he said, adding that sales were higher than expected during Songkran.

In addition, he credits the brand's global reputation to government-led international road shows for Thai brands.

In terms of the overall outlook for the domestic shoe industry, Chakrapol is confident that there is still room for growth by adding more innovations and features to meet the increasingly sophisticated expectations of consumers.

In order to maintain its position at the forefront of the student canvas shoes industry, Nanyang has launched an anti-bullying campaign called "Bully No More" with the goal of putting an end to bully behaviour in schools.

The concept arose after a study revealed that Thailand has the world's second highest rate of bullying in schools.

Chakapol said that the company wishes to demonstrate some responsibility because studies revealed that some of its former TV commercials unintentionally contained some bullying-related behaviour.

He said the company released special edition canvas shoes with the Nanyang logo replaced by the phrase "Bully No More".

It also introduced a promotion allowing consumers to exchange old canvas shoes for the anti-bullying ones between April 21 and 23.

More than 2,500 pairs of old shoes were exchanged for new ones emblazoned with the anti-bullying message, he said.