The Platinum Group presents first-half operation results of the year with 344 million baht profit increasing 15%
Running major business, Wholesales Center by investing 20 million baht to organize activities boosting purchasing power through the end of this year.
Readiness for strategy to propel 10 shops to be SMEs prototypes of “ The Platinum Empowering SMEs ” project
The second-quarter income of 2016 from Hotel business operation totaled 85 million baht equal to earnings in the same period last year. According to the accumulation of 6 months for 2016, the company earned 173 million baht for hotel business operations. The occupancy rate for the first half of 2016 was 85%. New promotions were created to satisfy our customers for instance, Platinum High Tea Buffet opened daily during 14.30-17.30 in the Platinum Lounge and International Dinner Buffet, which features a specialty crab menu served during this September and October at the Square One Restaurant.
Progress of Investment in the future
The Market Project values approximately 5,800 million baht and construction progress regarding pressure-injected footing of Building M1 and M2 have already finished. Presently, Substructure (underground structural work) is under process. Bidding for Main Contractor selection for the Superstructure construction will be conducted by this August 2016. Consequently, construction of the Superstructure (part of building above ground level) is expected to start around January 2017.
Sky Walk Project, “Bangkok Skyline” is a co-investment project of the Platinum Group and
Gaysorn Group. Now, its 1st phase is already open for trial which connects the point at entrance on the 2nd floor between Zone 2 and Zone 3 of the Platinum Fashion Mall and Novotel Bangkok Platinum Hotel, across Sansab canal to the front of The Market Project on Ratchadamri Road. The Platinum Group invested a total of 262 million baht in the 1st phase construction which spans a total length of 300 meters and width of 5.8 meters of pavement. Its average service use was about 50,000 people per day. The 2nd phase of the project will link with the 1st, passing the Market Project, Big C Department Store, Gaysorn Building, Amarin Plaza, and connecting to Chidlom BTS station. The company will co-invest 37.5 million baht for its construction budget to cover its 180 meters length and 3 meters width of pavement. The 2nd Phase is expected to open around the end of this year.
Additionally, Mr.Chanchai revealed its marketing plan and strategy for its major businesses, such as the department store – The Platinum Fashion Mall, a “key component of the department store that is currently the most important with 3,000 stores. Moreover, we forecast that leading stores which make up 10% of the department store will have average an income of at least 1,000 million baht per year. Lastly, we did an overall survey and studied the behavior of our target buyers to make sale promotions that progressively supply our target customers demands. According to the survey of all shop’s in the distribution channel, the proportion of sales was 70% from sales at wholesale and retail stores , 10% from exports (regular orders from oversea customers), and 15% from online channels. The composition of stores, which were divided by production format and brand owner, consisted of 60% possessing their own design and production, 10% having their own design and outsourced production, 10% having outsourced production under their own brand, and 20% selling outsourced products.
The preceding data was used for The Platinum Empowering SMEs” project. The department store selected outstanding shops possessing their own identity like Thai brands that mainly do their designs on their own. The project commenced its 1st phase by selecting 10 pilot shops to join the ability development plan which promotes variety and multi-dimension approach including increasing distribution channels, holding Business Matching activities to connect with oversea markets who are major targets such as Singapore, Hong Kong, Malaysia, Indonesia, and etc., operation marketing and public relations, providing knowledge of production, shop decoration, and organizing training regarding knowledge about loans with financial institutions. These objectives aim to make the Platinum Fashion Mall the destination of Thailand’s Wholesale Fashion Center to be well-known across the world. The shops selected to join the 1st phase of the project are as follows:
These are outstanding shops that possess powerful character through their own marketing. Their trade composition consists of 60% domestic and 40% overseas ( Mostly ASEAN and Asian countries 85%, such as Singapore, Malaysia, Indonesia, and India, Vietnam, Cambodia, and Brunei. The remaining 15% is mainly from the Middle East and Europe who have business dealings with the shops).
The Platinum Fashion Mall will reinforce the potential to generate prototype shops for other shops in the department store with the purpose of creatively encouraging adjustment and self-development for business competition, profit making and survival. These prototype shops will openly share and exchange their experiences which is considered a synergy between the department store’s management and business entrepreneurs for sustainable parallel business operation.
Sales Promotion Activities still primarily focus on the importance of store operators while simultaneously responding to customer demands. Consequently, over a 20 million baht budget
was spent for bringing together business entrepreneurs and boosting purchasing power for
the year 2016 by inviting over 1,500 stores operators to participate in activities taking place
at The Platinum Street in front of the department store as follows:
· The Platinum Clearance Sale 2016 during 10 - 24 August with grand sales and 1,500 shop participants, get a discounts up to 70% and many prize winners at the event.
· The Platinum Lingerie Party 2016 from 26 Aug – 4 Sept with graded stores of men and women’s underwear from good brands and famous brands with quality. Moreover, there will be special fashion show inspired by the musical movie “ Moulin Rouge” and in good-condition underwear donation for female prisoners or Breast Pillows Sewing for Cancer Patients Project
· The Platinum City Auto Fair 2016 during 26 – 30 September showcasing cars and motorcycles and accessories by leading brands with special privileges and interesting shows.
· The Platinum Thai Cuisine 2016 during 23 – 31 October by simulating an atmosphere of the ancient floating market and selling a variety of well-known food and desserts.
· The Platinum Absolute Denim 2016 held from 24 Nov - 5 Dec 2016 to gather jean lovers with fashion with special prices for male and female jean lovers.
· The Platinum Gift Festival 2016 during 21 Dec 2016 – 3 Jan 2017 filled with an exciting decoration theme to say ‘good bye’ to another year and welcome a new year with many gifts and souvenir booths.
To meet a variety of sale promotion activities by selection of highlight stores from leading entrepreneurs in the wholesales center, The Platinum Fashion Mall will offer surprise performances and decoration themes to fulfill shopping lovers’ lifestyle for a special experience and inspiration for the whole year of 2016.