New platform in Thailand to host flash sales of luxury brands

OnTheList, a platform that originated in Hong Kong, was launched officially in Thailand on Thursday.

The platform will allow Thai customers to buy outdated brand-name products at special prices while also assisting those brands in managing their old inventories in a sustainable manner.

In a roundtable interview two days before the launch, OnTheList co-founder Diego Lacoste explained that generally high-end brands will not offer discounts or special sales of their outdated products because they are afraid of harming their brand image.

However, amid growing global environmental concerns, these brands are under pressure not to destroy their obsolete products.

The OnTheList model of sales offers an avenue to fill this gap.

"Our mission is to turn old inventory into opportunities," he said.

He explained that the company works directly with local retail brands and official distributors to turn old inventory into opportunity by providing a sustainable way for brands to sell out-of-season items that would otherwise end up in landfills.

Lacoste said that by collaborating as business partners, OnTheList is able to offer the best deals and steep discounts to its members.

Furthermore, with limited dates and times and sometimes a limited segment, price offers of brand-name products via OnTheList would not affect their brand image.

The brands will also have an opportunity to reach out to new potential customers.

"We have to work closely with local retailers to delicately organise each flash sales event. However, if we are unable to locate the best deal for our members we will not hesitate to reject that flash sales project," he added.

He emphasised that OnTheList was different from the brand's direct sales channel.

"We [OnTheList] are complementary. We are not competing with local outlets," he said, reiterating that only old inventory would be sold on the platform.

Thailand is the seventh place to embrace this business model, after Hong Kong, Singapore, Shanghai, Australia, South Korea, and Malaysia.

During the first phase, he revealed that the flash sales would primarily take place online, with an average of one offline special event per month, and that the frequency would gradually increase depending on the local market response.

OnTheList Thailand director Maryse Kraatz believes that Thailand will be another success story for the company due to the impressive growth of the domestic luxury market.

She pointed out that Thais are the seventh largest spenders on luxury brand-name products in the world.

"Short periods of sales, highly selected products and a closed community of members would distinguish OnTheList from other platforms and be trusted by the brand owners," she said.

She added that OnTheList would not sell products that were in their regular season.

Purchasing from OnTheList can provide customers with peace of mind because the authenticity of the products is assured, she said.

"We will make sure that both parties [brands and customers] are happy with how we execute each event," Kraatz said.

Registering as an OnTheList member is free and as simple as any other subscription platform. However, in order to receive an exclusive offer or gain access before others, Kraatz recommended becoming a premium member, which comes with a fee.

On average, the sale price offered by OnTheList will be 75-80% off, but some brands may slash prices by 95%.

In order to raise brand awareness among local Thais, Kraatz said that the company would hold its first onsite event on November 19 and promised to surprise Thai shoppers with brand-name sales.

Aside from the website, she said that OnTheList was now working to expand through other social media platforms such as TikTok, Facebook, and Instagram.

Meanwhile, Lacoste expects OnTheList to have a permanent showroom in Bangkok within two years, similar to Hong Kong and Shanghai.

Since its inception in Hong Kong in 2016, OnTheList has hosted over 700 flash sales, has nearly 800 brand partners, and has a community of over 1 million members across all regions.