Thai home decor retailer ILM has announced that it is ready, after obtaining SEC approval, to list on the Thai stock exchange.
In a press release on Friday, the company said the move is to raise funds to finance the expansion of Index Living Mall stores, Younique customized furniture stores and smaller furniture stores. It will also enhance the production efficiency to tap the rising, urban growth-driven demand for home decor products.
Kridchanok Patamasatayasonthi, Managing Director of Index Living Mall Plc (or ILM), said that the company aims to achieve maximum customer satisfaction and enable the people to lead a balanced lifestyle by offering the home furnishing and living solutions that offer great designs, functions and quality and are universally affordable.
The company’s vision is to become Asia’s best provider of home furniture and accessories.
The planned listing on the Stock Exchange of Thailand (SET) would increase ILM’s competitiveness in the home decor retailing market as it would allow the company to better respond to the new-generation consumer’s preferences by introducing – through its retail stores, project assignments, distributors, online platforms and overseas markets – the products and services with excellent design innovations and rigorous production processes to ensure that customers’ unique demand, including the livability of their living space, is met.
A leading retailer of a comprehensive range of home decor products for different needs, ILM owns four main brands – Index Living Mall, Trend Design, Winner and Younique – which collectively attract customers in all segments of the market for home furniture, home accessories and electrical appliances that facilitate the enjoyment of any lifestyle and provide maximum customer satisfaction.
Ekalak Patamasatayasonthi, Senior Vice President for Business DEvelopment, added that a total of 36 Index Living Mall and Index Furniture Center stores are present in 21 provinces in Thailand and that ILM also operates leasing and space rental activities at nine of the stores, using The Walk, Little Walk and Index Mall brands.
He highlighted the company’s sheer advantages in terms of retail brand awareness as the consumers associate the company’s brands with innovations and designs that are perfect solutions to all customer segments.
He said that since 2017, the company has launched Younique Customised Furniture 4.0 as the new platform that enables customers to customise and freely adjust the size and design of their furniture items. He also noted the company’s strong domestic distribution network, online retailing platform, project-based supply chain, export volume and overseas expansion through franchising.
To allow the company to produce more furniture products in order to support future business expansion and growth, ILM will invest to upgrade its production capacity by employing state-of-the-art, highly efficient machinery with production automation functions that will reduce cost, raise production standards, increase production precision, reduce human errors in the production processes and, thus, improve its competitiveness. The upgrading will better support the production tasks for Younique products.
Pichet Sithi-amnuai, President of Bualuang Securities, as financial advisor, commented that the Securities and Exchange Commission (SEC) has approved ILM’s IPO and that the IPO proceeds would be used to finance the expansion of Index Living Mall and smaller furniture stores and Younique operations, the installation of solar rooftops, the improvement of production capacity and a number of other projects, as well as repaying bank loans and increasing working capital.