FASHION / Poolvaralucks building wholesale mall
Written by Writer on Tuesday, November 11th, 2008
FASHION / Poolvaralucks building wholesale mall
PITSINEE JITPLEECHEEP
Metro Fashion, a company led by the Poolvaraluck family, will open its first wholesale shopping mall, a one-billion-baht complex in the Pratunam area on Phetchaburi Road, in the first quarter of next year.
The company is also considering developing large warehouses in Bangkok’s suburbs to support the growing demand from discount-store chains in the future.
“We have decided to expand into the wholesale business because wholesale centres are gaining popularity among big factories. Also, the wholesale and retail fashion market in Thailand is expected to be about 60 billion baht per year and about half of it will come from the Pratunam area,” said Visin Poolvaraluck, the managing director.
Demand for wholesale fashion consistently grows by 8-10% per year, he said.
Metro Fashion is considered the Poolvaraluck family’s third business focus after its core cinema business, now five decades old, and property development which began four years ago.
The new complex will help solidify Pratunam’s status as the centre of wholesale shopping in Bangkok. There are already a number of wholesale fashion complexes in the area such as City, Baiyoke Centre, Pratunam Complex, Platinum Fashion Mall and Krungthong Plaza.
The complex is now under construction on a two-rai plot, replacing the existing Metro cinema, the first high-end cinema in Thailand. It would house 370 tenants selling fashion apparel, bags, footwear and accessories. The five-storey building, with total retail space of 6,000 square metres, will have parking space for 250 vehicles and create 60-80 new jobs.
About 90% of the space has already been booked. The rent for a shop sized between eight and 12 square metres is between 800 and 1,200 baht per month.
Mr Visin said the number of daily visitors at the complex was expected at 10,000 to 15,000 on weekdays and 30,000 to 40,000 on weekends. About 80% of the visitors would be local buyers and the rest foreigners, not only from Asia but also from western countries.
The company expects to earn 150 million baht in rental fees per year and to break even within the next four years. If it is successful, the company would develop similar projects in the future.
Bangkok Post
Tuesday November 11, 2008
