Index plans B2.2bn investment
- Published: 30/01/2010 at 12:00 AM
- Newspaper section: Business
Index Living Mall Co, the home furniture and furnishing retail chain, plans to invest 2.2 billion baht from 2010 to 2012 to develop new stores and to upgrade facilities and renovate current stores.
Managing director Jarintorn Patamasatayasonthi said that about 500 million baht would be spent this year on installing new machinery at Index's factory in Mahachai district of Samut Sakhon to support expansion domestically and abroad.
In the middle of this year, Index will spend another 100 million baht - 60 million baht to renovate its Bang Yai branch and 40 million to revamp all Index Living Mall stores in shopping centres under a new image.
In 2011, about 500 million baht will be used to develop a 16,000-square-metre branch on a 10-rai plot on Ratchaphruek Road to cater for customers in Pin Klao, Petchkasem and Ratchaphruek.
After opening the Ratchaphruek branch, Index will have four stand-alone outlets to cover the four Bangkok zones of Rangsit, Bang Na, Bang Yai and Ratchaphruek.
In 2012, another 1.1 billion baht will be spent to develop two new branches, bringing the number of Index Living Malls to reach 20-22 outlets within four years.
Yesterday, the company officially opened its 11th branch, on Bang Na-Trat Road Road. The 1.5-billion-baht store occupies an 11-rai plot with retail space of 25,000 sq m. There are more than 400 residential property projects in the area surrounding the store, which will serve the expansion of the eastern part of Bangkok.
The company expects the Bang Na-Trat branch to generate sales of about 600 million baht.
The company also plans to spend 250 million baht this year on its marketing activities.
Index expects sales this year to grow by 10% to 7.7 billion baht - about 60% from domestic sales, 30% from exports and 10% from property projects. Sales in 2009 grew only 5% as the company developed no projects and was hit by Thailand's weak economy.
About the author
- Writer: Pitsinee Jitpleecheep
- Position: Business Reporter
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