MBP invests Bt30 million in Albedo
MBP Leather Industries will spend Bt30 million over the next three years in an attempt to establish its Albedo range as a high-end brand in the domestic and international markets.
It manufactures the Albedo range of products, which includes leather business bags, clutch bags, wallets, key cases and accessories, at its Samut Prakan factory and also imports three other brands.MBP has redesigned its products to convey a modern look with high-quality materials instead of using traditional designs aimed only at adults. The new look will also target women instead of focusing only on men. Managing director David Chiu said yesterday that Albedo's younger look would appeal to people aged between 25 and 35 while its older customers would gradually shift to use the new designs. The first collection launched under the new look is called Kensington. MBP has allocated Bt3 million to renovate its three Bangkok outlets in MBK Centre, Seacon Square and All Seasons Place by the end of the year. It is also gradually improving the image of 35 selling points nationwide. Chiu said MBP planned to launch two major collections and two minor collections as well as other new products annually in order to stay up to date. He said the quick spread of me-too products after it launched new models and weak back-office operations had resulted in MBP suspending all marketing work for the past six years. During that time, it had improved administration, designs and development. Chiu said the leather fashion industry should grow at only 5-7 per cent this year, the lowest rate in seven years. MBP has revised down its expected sales growth from 10 per cent to 7 per cent. The Albedo range has had growth of only 5 per cent so far this year. MBP is working with Italian partners to create a new fashion brand. It would manufacture the products and the partners would market them. The brand would be exported mainly to Europe. - Nitida Asawanipont, The Nation
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