Raymond Phua, managing director of Singapore-based Da Vinci Holdings, says the firm sees great potential for its high-end classical European furniture in Bangkok.

A leading Singapore furniture-cum-lifestyle firm, Da Vinci, is looking for a Thai partner to expand its business in the Kingdom.

"We are completely open for a franchisee," said Raymond Phua, managing director of Da Vinci Holdings Pte Ltd, a retail period furniture company which also sells jewellery.

Phua said the Bangkok market was full of potential, but he opts for franchising in Thailand because his company's management team is busy opening new stores in China.

"Our strength is management and it will grow thin if we do not focus," he said.

Claiming to be the biggest outlet in Asia for period furniture, Da Vinci's vast stores showcase all kinds of high-end European classical furniture such as coffee tables, carpets, kitchens, lighting, beds and sofas from world-renowned brands.

"We offer a luxurious European lifestyle with a range of furniture products so wide that it is one-stop shopping," Phua said. "It's like when you buy clothes, you go to Hugo Boss, which has different things to match what you need."

Starting in 1994, the company was the first in Singapore to opt for period furniture.

"We also grew differently to others. We went outward, and expanded from Singapore to Brunei, Malaysia, and Indonesia in one year," Phua said.

Now, Da Vinci boasts more than 30 huge showrooms in Singapore, Malaysia, Brunei, Taiwan, China and even in Italy, with total retail space of more than 400,000 square feet (37,175 square metres) and a staff of 600. Last year its sales reached more than 180 million Singapore dollars (Bt4.31 billion).

Two years ago, Da Vinci jumped into the jewellery business. Phua said the expansion was a natural progression. He also saw a niche that others did not occupy.

Be it furniture or jewellery, Phua places great emphasis on branding.

"In today's environment, it's no longer about price, but branding. It is how you differentiate yourself from the competition," he said.

This year alone, the company spent at least S$2 million in just one month to promote its brand along with the release of the movie "The Da Vinci Code". It also launched two "Vitruvian man" diamond watches to commemorate the show.

In early July, it was also a presenter of the second Singapore International Jewellery Show. The goal in participating in such events is not primarily about boosting sales, but "putting the brand image in a higher position", Phua said.

"Of course, it's great if we break even, but we set aside a budget for branding, for the longer term," he said.

With such a philosophy, it follows that his current goal is not primarily increasing sales, but increasing the company's number of stores. "By expanding our stores, the brand also gets greater presentation, outside."

"In three to five years from now, we hope to see ourselves in more countries and becoming a truly lifestyle-oriented business," Phua said.

Sopaporn Kurz

The Nation

SINGAPORE