CHIC reveals its business direction for the second half of 2022, anticipating strong growth as the country reopens, boosting private sector economic activities and real estate recovery, leading to increased demand for furniture. The company is moving forward with strategies to create growth through a New S Curve, expanding its services with “Chic Design Studio” for comprehensive interior design and construction contracting, as well as enhancing rental services and home decoration through “Chic Rent In Style”, aiming to generate revenue to support its core business. The company is also looking for quality locations to expand new branches and improve rental store spaces to create Recurring Income and enhance competitive capabilities, while preparing to list on the MAI stock exchange.

Mr. Kijja Patmasathianth, Managing Director of Chic Republic Public Company Limited or “CHIC”, a distributor of furniture, home decor, household items, mattresses, and bedding in a large single-store format under the main brands “Chic Republic” and , as well as imported products under the brand “Ashley”, stated that the overall business direction for the second half of 2022 is expected to grow well, supported by the reopening of the country, which drives economic activities in the private sector, including services, tourism, and real estate, positively impacting the demand for furniture.

The business plan for the second half of 2022 focuses on strategies to create growth through the New S Curve. Currently, the company’s revenue is divided into 52% from furniture distribution and decoration, 44% from project work, 1% from interior design and decoration, and 3% from service businesses.

By expanding services, the company offers comprehensive interior design and decoration services, including built-in furniture installation and loose furniture for projects such as condominiums, homes, restaurants, cafes, and hotels under the name “Chic Design Studio”. Additionally, it has increased service channels with “Chic Rent In Style”, a rental and decoration service for furniture and home decor by stylists/interior designers, to cater to real estate companies, design firms, independent designers, homeowners, and event organizers who need to rent furniture and decor for model rooms, advertising, public relations, and short-term events.

For the furniture distribution and home decor business, the company plans to expand new branches in areas or provinces with high growth potential, while continuously developing new products to create modern trends and add value to its offerings, alongside an O2O (Offline to Online and Online to Offline) strategy to enhance online sales channels to meet the increasing demand in the future.

Currently, the company has sales channels through its websites:
www.chicrepublicthai.com
www.rinahey.com 
https://store.ashleyfurniturehomestore.co.th

Facebook: Chic Republic
Line@Chic Republic
and platforms like Shopee, Lazada, NocNoc, Central Online, and JD Central.

Moreover, the business of distributing ready-to-install furniture for domestic projects has received positive feedback from large real estate development companies, preparing to target additional customers in horizontal projects such as single houses, townhomes, hotels, and hospitals to increase sales and gross profit margins.

In terms of the rental space service business, the company is adjusting its strategy to attract customers to visit the physical stores, preparing to improve the product display areas in some branches and increasing rental space for well-known brand shops, restaurants, and beverage outlets to further promote the company’s business, generating income from rental space and service fees.

“The COVID-19 pandemic has impacted the company’s operations, prompting us to adapt quickly to build resilience against current crises. The strategy to create growth through the New S Curves is already showing an increase in revenue proportions across business segments in Q1/2022, and we expect continued positive growth. Therefore, the company is ready to list on the MAI stock exchange to support investment plans that will drive future growth,” said Mr. Kijja.

Additionally, the company will offer 360 million IPO shares at a par value of 0.50 baht per share, representing 26.47% of the total shares after the IPO. Maybank Securities (Thailand) Public Company Limited will act as the financial advisor and will conduct a roadshow for interested investors and the general public through online formats (Facebook Live). Information presentations can be followed on FB: Chic Republic.