In the second half of 2022, CHIC announces its business direction with significant growth. Opening the country supports economic activities and the private sector revitalizes real estate and boosts demand for furniture. The company maintains its growth strategy with the cutting-edge New S Curve and adds rental and decoration channels for furniture and home furnishings by Stylist "Chic Rent In Style". As we prepare to list on the mai stock exchange, we intend to grow our core business while seeking for a suitable site for new branches, refurbishing rental store space, generating recurring revenue, and enhancing our competitiveness.
Mr. Kijja Pattamasatayasonthi, Managing Director of Chic Republic Public Company Limited (CHIC), a fully integrated supplier of furniture, home furnishings, homewares, mattresses, and bedding in the form of large "Stand Alone" under the main brands "Chic Republic" (CHIC) and "RINA HEY" and imported from abroad under the brand "Ashley" revealed that the business overall direction in the second half of 2022 is expected to be exceptional growth with several factors from the country's opening up, resulting in the economic drive of the private sector, the hospitality sector, the tourism sector, as well as the real estate sector, has had a positive impact on the increased demand for furniture.
The company's growth strategy with the new New S Curve is the main emphasis of its business plan for the second half of 2022. Currently, the distribution of furniture and other home furnishings accounts for 52% of the company's income, followed by real estate projects (44%), interior design (1%), and services (3%).
"Chic Design Studio" now offers interior design and turnkey service for real estate projects, condominiums, houses, restaurants, cafes, and hotels. It also launches "Chic Rent In Style", the rental and decorating of furniture and home furnishings by an interior designer or stylist in a one-stop service to satisfy the needs of clients, real estate companies, interior design companies, freelance designers, landlords, and event companies who need to rent furniture and home furnishings to set up sample rooms, advertising, and public relations, short-term events, etc.
For the distribution of furniture and home furnishings, we plan to open new branches in areas or provinces with high growth potential. We also concentrate on regularly developing new products to keep up with trends while enhancing the product in conjunction with the O2O (Offline to Online and Online to Offline) strategy, which enables online distribution channels to meet future demand.
The company currently offers channels through these websites:
Chic Republic: https://www.chicrepublicthai.com/, https://www.facebook.com/chicrepublicthai/,
Rina Hey: https://www.rinahey.com/, https://www.facebook.com/rinaheythai, line official
Online Marketplace: Shopee, Lazada, NocNoc, Central Online, and JD Central
The company also offers ready-to-install furniture for domestic real estate projects. Large real estate development businesses have received encouraging feedback and are getting ready to target more flat-line project customers, such as single-family houses, townhomes, hotels, and hospitals, which allow higher sales and profits.
For the rental space business, the company adjusted its strategy to attract customers to visit the storefront and prepare to improve the placement area within some branches and increase rental space for famous brands of shops, restaurants, and beverages and promote the company's business to earn money by renting space and service charges.
"The COVID-19 pandemic has had an impact on the company's operations. We have accelerated its adaptation to build immunity and respond to crises. Thanks to the revision of the growth strategy with new S Curves, we began to see the proportion of revenues in each segment started to rise in Q1/22 and continued to improve. Therefore, the Company is ready to list on the MAI to support investment plans for future growth" Mr. Kijja stated.
The company plans to list 360 million shares on the market. After the IPO, there were 26.47% additional shares with a par value of 0.50 baht, with Maybank Securities (Thailand) Public Company Limited serving as the financial advisor. We will host roadshows for interested parties, investors, and the general public through Facebook Live. Please follow our presentation on FB: Chic Republic.