TANACHIRA BUYS CATH KIDSTON LABEL
Tanachira Group has bought the Cath Kidston fashion brand in Thailand and expects the move to increase the company’s revenue to Bt1.8 billion in 2020.
Aphichai Pholkosol, chief financial officer of Tanachira Retail Co Ltd, said the company had purchased all the shares of Cath Kidston Thailand.
Aphichai said the revenue goal of Bt1.8 billion by 2020 would coincide with plans to list the company on the Stock Exchange of Thailand around that time.
The company expects to achieve sales of Bt1.1 billion for this year – the most since the company started in 2010.
Tanachira Retail focuses on marketing its lifestyle and fashion brands to young people and fashionable urban residents.
Tanapong Chirapanidchakul, chief executive of Tanachira Group, said the purchase of Cath Kidston was an important step in the company’s plans and would lead to significant growth.