Index Living Mall said it showed strong growth in Q3 and achieved the target of 4.6 per cent growth.
The next plan is to continue entering into partnerships with other companies to increase innovation and pushing big campaigns to boost the year-end sale, it said.
In addition, an investment of Bt165 million is planned to renovate four branches and to expand business through overseas franchising, the furniture firm said.
It said it closed with revenue of Bt7.25 billion in the third quarter. For next year, the company said it is planning for an aggressive marketing approach by joining forces with leading companies in order to promote marketing campaigns, implementing innovative ideas that create personalised items and launching seasonal campaigns.
"Our strategy is to stay flexible based on the market situation and offer valuable products at affordable prices. The company aims to expand four more branches of Index Living Mall within Bangkok and other provinces, as well as selling franchises to emerging markets such as those in Indonesia," said Kridchanok Patamasatayasonthi, managing director of Index.
Based on www.area.co.th statistics, it is estimated that real this year’s real estate sale is Bt480 billion, 46 per cent of which are houses, while the remaining 54 per cent are high-rise buildings.
The new projects are worth approximately Bt430 billion and Bt440 billion in total, which is approximately the same as last year’s, Index said.
It is estimated that the total market value of the furniture industry by the end of the year would be Bt80 billion.
"In 2019, we have a plan to renovate six branches next year, including those in Ratchapreuk, Kaset-nawamin, Rangsit, Pattaya, Phuket and Udon Thani, at the total cost of Bt165 million. We also plan to expand four more branches in Bangkok and other provinces including Chaiyapreuk, Chantaburi, Ramindra and Sukhapiban 3.
"In our overseas operation, we will expand two more franchises in Jakarta and Bali in Indonesia. The Indonesian furniture and decorative items retail segment has shown positive growth. Major contributions are the country’s large population size, as well as the steady growth in the Indonesian economy, per capita income, and consumer behaviour," said Kridchanok.