Mc Group sets sights on neighbourig markets in run-up to AEC
Mc Group has set its sights on neighbouring markets, starting with Myanmar, where it has appointed a local distributor.The Thai jeans company will also launch an online shopping business in May, aimed at creating a new channel for both local and foreign buyers to shop for its own-brand fashion products as well as other vendors' brands.
Overseas expansion, meanwhile, is in line with the company's strategy to cash in on the Asean Economic Community, which comes into effect in 2015.
Sunee Seripanu, chief executive officer of Mc Group, yesterday said the company hoped to expand its trading into Asean markets, starting with the countries bordering Thailand, namely, Myanmar, Laos, Cambodia and Malaysia.
"We have already entered the Myanmar market by appointing a local distributor last year to be our representative and generate sales," she said.
Mc Group posted about Bt3 billion in overall sales last year, up 37 per cent from the previous year's level.
The company expects to achieve sales of Bt4 billion this year, she said.
Sales will be driven by the company's proactive strategy in expanding business via the online shopping channel and the launch of a new brand, she added.
"We sold more than 3 million pieces of jeans and apparel last year under the Mc brand, which ranked as the best-selling jean brand in Thailand. We have grown annually by not less than 30 per cent over the past three years. We plan to launch new brands and business initiatives to expand our market base and share. The company currently has a 40-per-cent share in the local jeans market," said the CEO.
Chanchira Hongladarom, senior vice president - marketing at Mc Group, said the company planned to launch the Mc Pink brand during the coming Valentine's Festival.
It aims to attract teenage consumers by giving them more colourful fashion wear that is
quite different from its classic Mc Jean and Mc Ladies brands, at affordable prices, she said. Retail prices will range from Bt490 to Bt2,000.
The first stand-alone shop for the new brand is due to open on February 7 in Roi Et, with the second scheduled to open its doors at Seacon Square on Srinakarin Road in Bangkok the following day.
The company plans to have nine Mc Pink stand-alone shops in total this year, as well as 25 outlets at superstores.