PP Group sets ambitious goal to double revenue in three years as it turns 20
PP Group, a global leader in the import and distribution of fashion and lifestyle products, celebrated a significant milestone in its journey — its 20th anniversary — at the Four Seasons Hotel, Bangkok, on Monday (September 19.
The company unveiled ambitious plans to generate 4 billion baht in revenue by 2026, cementing its position as a dominant player in Thailand's fashion and lifestyle industry.
Despite the challenges posed by the Covid-19 pandemic, PP Group has continued its remarkable growth trajectory, achieving 45% sales growth rate over the past five years. The company expects its 2023 sales to reach 2 billion baht, nearly double the figures from five years ago.
A stellar brand portfolio
PP Group has become synonymous with importing and distributing renowned brands, such as Tory Burch, Givenchy, Longchamp, Roger Vivier, MCM, Off-White, Maison Kitsuné, Palm Angels, and Casetify.
Recently, the company added another feather to its cap by introducing the globally trending South Korean eyewear brand, Gentle Monster.
Suvadee Phungbunphra, chief executive officer of the PP Group, expressed confidence in the company's ability to adapt to market trends. "PP Group has consistently earned the trust of fashion and lifestyle product businesses to serve as their official representative for distribution, business operations, and brand image in Thailand. We see the potential for business expansion by aligning with fashion industry trends,” she said.
The company’s vice president, Orand Puipunthavong, highlighted the company's commitment to diversification and customer satisfaction. "We are committed to expanding our business with new plans, products, and services to offer greater diversity and value to our customers,” he said.
PP Group considers its ability to stay ahead of trends and anticipate the desires of its clientele, as its key strength, Suvadee said.
In a strategic move to diversify its offerings and enhance its brand repertoire, the company recently entered into a joint venture to introduce Gentle Monster to the Thai market.
Elevating the retail experience
Suvadee said the company was expanding its presence by increasing the number of points of sale from 20 stores, covering 2,254 square metres, to 40 stores, encompassing 4,342 square metres, by the end of the year. This expansion is part of a broader strategy to create a comprehensive omni-channel platform, including the development of the PP Group Online Store.
Suvadee said PP Group's vision extended far beyond mere points of sale; it aimed to create shopping destinations that rival the world's most esteemed outlets and flagship stores.
To this end, PP Group is diversifying its business structure. This includes strengthening its role as a fashion distributor, pursuing international business joint ventures, such as the partnership with Gentle Monster, and offering retail operation services, she added. Under this retail operation service format, PP Group provides support to brands looking to establish and maintain a presence in Thailand, even if they lack market expertise and understanding.
Moreover, PP Group offers marketing and brand-building consulting, leveraging its extensive network within the media and celebrity circles. The company's track record of successful projects serves as a testament to its expertise, instilling confidence in international fashion brands that have selected PP Group as their trusted consultants for brand building in the Thai market, she added.
Forging strong partnerships
Orand said one of its strengths was establishing enduring relationships, cultivated over time. Figures like Sukwan Bulakul, news anchor and social entrepreneur, consistently choose to collaborate with PP Group, underscoring the company's reputation as a trusted and reliable partner, Orand said.
The company's expertise in brand building is backed by over two decades of experience in the luxury fashion retail sector. PP Group's in-depth understanding of brand development and growth in the Thai market further bolsters its capabilities in this area, Orand added.
The company takes pride in its role in contributing to Thailand's recognition as a desirable travel destination. Many of its projects hold significant influence and soft power, often showcasing Thai celebrities on the international fashion stage, he said.
Moving forward, PP Group is committed to sustaining growth and aspiring to become the foremost distributor of lifestyle and fashion brands in Thailand. The company seeks to earn the enduring affection of the Thai people by continuing its legacy of excellence, he added.