TCM Corporation (TCMC), a leading carpet manufacturer in Thailand, aims to make its “Royal Thai” and “Carpets Inter” brands household names globally this year, with its expansion strategy covering its three major businesses, namely TCM Flooring, TCM Living and TCM Automotive.
The company will also invest in innovative machines to boost productivity and reorganise its business to increase sales by 7 to 10 per cent in this year.
Pimol Srivikorn, chairman of TCM Corporation, said the company was positive about overall economic growth due to the upcoming general elections, state and private investments in large projects, growth in the property sector as well as growth in tourism.
“In order to boost our growth as well as continue creating profits for our stakeholders, we will increase production efficiency and capacity in all businesses by adopting new technology and innovation,” Pimol said.
The company has also divided the management structure into three core businesses: TCM Flooring, TCM Living and TCM Automotive. They will continue expanding into new emerging markets that have high potential in the Middle East and Asia, as well as promoting their products under the TCMC umbrella to get more recognition globally.
“We are continuing with our goal to be a world leader in each of our businesses. For instance, with TCM Flooring, we will join international exhibitions and focus more on casino, cruise and luxury hotel markets. Over the past few years, our firm has shown outstanding growth via our merger and acquisition strategy. We have also changed the name and logo, which was inspired by the Ruppell’s griffon, which reflects TCM’s great vision. “The new logo is easily recognisable and provides inspiration for the management to move towards sustainability in our sixth decade and for more decades to come,” Pimol said.
Under the 2019 plan, TCM Flooring will promote the “Royal Thai” and “Carpets Inter” brands to gain more recognition globally, particularly in the US, Europe, Middle East and Asia. Last year, TCM entered Japan by appointing Tori Corporation as a sole distributor of “Royal Thai” products.
In the domestic market, TCM will promote the two brands separately, with each brand serving a different group of customers.
As for TCM Living, the company has been selling products under the brands of Alstons, Ashley Manor, AMX Design and Alexander & James in the United Kingdom. Last year, the company also took the Alexander & James brand to the US, Dubai, the Netherlands, Thailand, China, South Korea, Australia and New Zealand, and plans to expand further in markets where the purchasing power is high. TCM also aims to open its first Alexander & James flagship store in Bangkok, which will be used as a permanent gallery for international customers.
For TCM Automotive, the firm will focus on research and development with the aim to expand the market to cover every automotive brand manufactured in Thailand. Its aim is to compete in both price and quality, and is also working on developing carpets for automobiles that can absorb sound and are lighter.
Pimol said TCM Flooring is expected to contribute 35 per cent of income this year, TCM Living 50 per cent and TCM Automotive 15 per cent. Overall, the domestic market is expected to contribute 25 per cent of the revenue, while the remainder will come from overseas markets.