Finance man's perfect timing
With a strong background in international finance, Ong-Ard Mahadumrongkul is the third generation of his family to join its timepiece company.
Since April this year he has been working to freshen things up and introduce modern marketing techniques to the 49-year old company. Ong-Ard, 28, is a grandson of Dilok Mahadumrongkul, who founded C Thong Panich. He is the son of Vajiraporn, its executive director. The company distributes imported watches, including Rado, Mido, Hamilton, Ball and Citizen. He graduated in economics from Chulalongkorn University in 1999 and went on to a postgraduate degree in management information systems at the University of Tasmania in 2002. He started working at UOB Radanasin Bank in 2002 as a risk-management officer. He was there for a year before joining Tisco Bank for two years as assistant vice president for retail credit. "For me it is quite significant to learn and get new business experience from outside," Ong-Ard said. "I have learned about working with international financial firms and their new and modern marketing and promotion techniques and how to analyse business information. I have also learned people management and how to be a good boss and a good subordinate." Ong-Ard said that while all modern banks offer basic services like cash deposits or loans, they were developing new products and services and modern marketing and promotion techniques. "I would like to apply these modern techniques both in marketing and promotion in my watch business," he said. "I can bring good connections with business customers since I have worked at international banks. They may collect watches and become potential customers." C Thong Panich has had many staff with technical knowledge. But it needs modern marketing techniques, and to select products that are outstanding and unique. "The image of C Thong Panich is quite old, and its sells mid-range brands only. Its key customers are over 25. We have not catered to teenage customers in 49 years," he said. "I want to make C Thong Panich known by every single customer irrespective of age or gender." Ong-Ard has set up a new-product department and is seeking exclusive rights for three European brands. It expects them to contribute sales of Bt60 million next year, 10 per cent of total sales.
Kwanchai Rungfapaisarn The Nation
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