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Copperwired to list on SET

Aug 05. 2019
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By Jirapan Boonnoon
The Nation

Copperwired is planning to list on the Stock Exchange of Thailand (SET) in the fourth quarter this year. The firm also expects to generate revenue growth of 15 per cent by the end of this year.

Paramate Rienjaroensuk, chief executive officer of Copperwired, said that the firm is preparing to list on the SET in the fourth quarter this year to increase investment and expand its market both in Bangkok and upcountry.

The firm’s current focus is on digital lifestyle products, smartphones, computers and tablets, and services through 14 Copperwired shops and 20 dotlife (.life) shops.

The digital lifestyle products include items for home and office, mobile phones and accessories, smart watches, sports, health and wellbeing, hobby and toys, as well as audio, photos and video products. It offers more than 2,000 items under some 200 brands. Copperwired and dotlife shops sell Apple smartphones, computers and tablets. 

The firm provides services via five iServe centres in such prime areas as Ratchaprasong and Siam Square and is planning to spend between Bt40 million and Bt70 million on opening 6 new dotlife shops in Bangkok in 2020. 

“I believe that the digital lifestyle products such as hobby items and toys have high potential for growth in Thailand and our six new dot life shops in Bangkok will support that demand,” he said, adding that the firm is currently developing an online retail platform and will officially launch its Omni channel platform next year.

Copperwired expects to generate revenue around Bt3.5 billion this year, an increase of some 15 per cent over 2019 when revenue reached Bt3.2 billion. Forty per cent of this will come from digital lifestyle products followed by the smartphone and computer & tablet categories.

“I also think that growth in the IT market will slow in the second haft of this year but we will be looking at achieving continued growth in the digital lifestyle market,” Paramate said.

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