CHIC reveals its business direction for the second half of 2023, anticipating stronger growth compared to the first half. As the business enters the high season, it is preparing to launch a new collection of furniture and home decor products, emphasizing design and functionality while responding to eco-friendly and health trends. The company will also introduce comprehensive supplementary services alongside the development of both online and offline sales channels. CHIC is moving forward to expand its diverse project portfolio and is looking to partner with allies to enhance business opportunities, aiming for revenue growth of 20-25%.

Mr. Kijja Patmasatthayasnithi, Managing Director of Chic Republic Public Company Limited, or “CHIC,” a distributor of furniture, home decor, household items, mattresses, and bedding in a large standalone store format under the main brands “Chic Republic” (CHIC) and “Rina Hey” (RINA HEY), as well as imported products under the “Ashley” brand, stated that the business outlook for the second half of 2023 is expected to be significantly better than the first half. This is due to the business entering the high season and the recovery trend in the real estate sector, both high-rise and low-rise, particularly in the high-end market for single-family homes, duplexes, and townhomes, which continues to grow, boosting the demand for furniture and home decor.

The company is focused on continuously developing its product strategy by incorporating innovations into the design and production of new furniture and home decor products that align with consumer demands, thereby adding value to its offerings. It is preparing to launch a new collection of furniture and home decor products that highlight design and functionality, in line with eco-friendly and health trends, alongside an O2O (Offline to Online and Online to Offline) strategy to enhance sales channels and create a competitive advantage. Additionally, the company is expanding its customer base in project businesses such as hospitals, hotels, and interior design firms that have a high demand for furniture and decor products. It is also creating opportunities for its comprehensive interior design business, “Chic Design Studio,” while continuing to bid for additional real estate projects, both low-rise and high-rise, to increase sales and profit opportunities. For its rental space business, the company is progressing according to plan, accelerating the renovation and expansion of rental space at its Bangna branch, expected to be completed by Q4 2023, while the Ratchaphruek branch has been renovated and is now open for new store services, contributing to increased recurring revenue and supporting the revenue growth target of 20-25%.

“However, the company still aims to create growth and strengthen its business continuously, with plans for collaboration with partners to enhance business opportunities. It is currently studying potential business partners to support growth and create a competitive advantage over rivals, which will positively impact the overall business of the company and support significant increases in revenue and profits,” Mr. Kijja stated.