The London luxury goods department store Harrods is moving into the precious metals market with the launch of a service to sell investmentgrade gold bullion bars and coins to customers.
Malcolm McLean, general manager of Harrods Bank, told Reuters on Thursday that the company saw a gap in the market for a well-known retailer to enter the increasingly high-profile gold market.
"We have been very conscious of the fact that there has been an ever increasing amount of interest in the gold market,and in buying investment gold," he said.
"We became very conscious that there is no well-recognised name out there which the general public can turn to and say, I know that name, I trust it, I want to buy from them.
"That is not to say there are not reputable dealers out there - we know there are," McLean said.
"But they don't carry the brand that we do."
Since Monday, Harrods has been selling Swiss-sourced investment grade bars and coins including sovereigns, South African Krugerrands and American Eagles, from the Harrods Bank premises on London's upscale Brompton Road.
Harrods would not be drawn on the sales volumes seen by the store so far,but McLean said feedback for the service had been positive.
"We are very much looking to the Harrods customer, and the customers of Harrods bank itself," he said."But we are open to the general public."
Prices vary according to the spot price of gold, the amount of bullion ordered,and the type of product selected. Internationally traded spot gold prices rose to a record high of $1,070.40 an ounce on Wednesday.
Around midday on Thursday, a oneounce Kruggerrand coin would have retailed at just under ฃ740, around a 14% premium above the gold spot price at the time.
Premiums on gold investment products in Europe are typically between 5-20%, depending on the spot price,supply and demand conditions, and volumes.
The store offers a secure safety deposit service, with its smallest box available for ฃ235 a year and capable of holding the largest investment product Harrods offers: the 12.5 kg bar.
"The customer can take the gold away with them if they wish, or can arrange for it to be delivered to wherever they choose," McLean said.
Investment in gold coins and bars rose sharply in late 2008 and early this year as the financial crisis boosted the appeal of physical gold as a safe store of value for consumers.
According to the World Gold Council,worldwide net retail investment in gold,which includes coin and bar buying,rose 22% in the first half of 2009 from the same period of the previous year to 301 tonnes.
Friday, October 30, 2009
Beauty, luxury products shine amid gloom
Department stores in Asia that have managed to capitalise on trendconscious consumers willing to spend on elegance and beauty are ringing in the sales as the region's economy recovers.
In contrast, the ones not using luxury to tempt shoppers look much more vulnerable to cheaper alternatives.
The post-crisis strategy for department store operators like South Korea's Lotte Shopping, Hong Kong-listed Parkson Retail and Japan's Isetan Mitsukoshi, is how to fend off cost-competitive rivals from discount stores to Internet shopping in the battle for consumer wallets that have been fattened up by government measures to stimulate the economy.
Despite the downturn, Asia's department store shares still outrank lowerend retailers in valuation, a sign investors see stronger earnings recovery as regional economies turn around.
Asia-Pacific department stores trade at average 39 times of their forecast earnings, compared with 20 for supermarket and convenience store chains,according to Thomson Reuters data.
In China, Taiwan and South Korea,where expensive tastes accompany a rising middle class and asset prices, department stores are associated with brand-name cosmetics and luxury.
"Although the economy is bad, people still want to look good. They'll rather spend money on their face and body to look young, and wear cheaper clothes,"says Shauna Lee, a marketing executive at Taipei's Shinkong Mitsukoshi department store, where throngs of shoppers enjoy the annual sale promotion with shopping vouchers from the government.
In South Korea, August department store sales from top players Lotte Shopping, Shinsegae and Hyundai Department Store rose at the fastest clip in seven months, with consumer sentiment at a seven-year high. Cosmetics, luxury items and premium health foods are consistent leaders. Shares in Hyundai,more focused on upscale shoppers than its peers, have jumped 85% this year.
China's retail sales posted 15% growth in the first three days of the Oct 1-8 "golden week" holidays. The downturn has done little to dent demand for designer handbags and watches, a survey from market research firm Pao Principle shows.
As China's urbanisation and growing wealthy consumer class fuel demand,brand recognition is helping high-end retailers. Department store chain Golden Eagle shares have more than doubled this year.
"The right strategy for department stores is to go even more upscale," said Hyundai Securities analyst S.K. Lee."Those with money keep spending on beauty products and luxury goods."
Shinsegae constantly renews its luxury items offering to compete with special-ised stores around Seoul.
"We were able to post fairly strong earnings thanks to the robust sale of luxury items and cosmetics ... And wealthy consumers' royalty to our groceries section is extremely high," said Shinsegae spokesman Kang Sang-min.
Top Thai shopping centre operator Central Pattana plans to add eight locations a year for six years from 2011.
"There is a sign of an industry pickup and we're not stopping ourselves from expanding," chief financial officer Naris Cheyklin said.
For some Asian department stores,expansion means potential mergers and acquisitions - Lotte Shopping is debating whether to buy Chinese supermarket operator Times Ltd as it seeks a strong brand in a fast-growing market.
In Japan, however, a prolonged retail slump is weighing on upscale retailers,hit by the impact of deflation and job losses.
"Specialty stores like Uniqlo and Nitori are attracting customers. Department stores have failed to respond to changing consumer trends," said Naozumi Nishimura, analyst at a research firm TIW in Tokyo.
Sales at Japanese department store chains, including Isetan Mitsukoshi,J.Front Retailing and Takashimaya,marked the 18th straight month of yearon-year decline in August.
"As for consumer spending, tough times are likely to continue for a little while," said Takashimaya president Koji Suzuki.
"We have been working on structural reform and stepping up marketing efforts,but we cannot make up for falls in sales in this tough economic condition."
Asian retailers in general have still fared better than Western peers as their economies avoided the worst of the fallout from the financial crisis. High-end retailers in the United States and Europe,including Saks, Nordstrom and PPR, have been hit hard by weak sales and consumer focus on value.
The question now is whether Asia's high-end retailers can sustain the upturn once stimulus measures are removed.Monetary tightening has already begun in Australia, South Korea is expected to hike rates early next year, while many other governments are cautiously discussing exit strategies.
In Taiwan, shopping vouchers equivalent to 0.7% of the island's GDP were offered and almost all of them used.
Government cash handouts have also helped Australia's department store chains David Jones and Myer post resilient sales.
An upcoming initial public offering by Myer, Australia's biggest department store chain, could test investors' confidence in retailers.
Although growth in consumer spending across Asia is expected to dip this year, it is forecast to continue its upward trend in the next two years, underpinning the region's department stores.
"I know there is a crisis, but things seem much better now," said Chen Yi,a Beijing housewife shopping with her son at upscale shopping mall "The Place".
In contrast, the ones not using luxury to tempt shoppers look much more vulnerable to cheaper alternatives.
The post-crisis strategy for department store operators like South Korea's Lotte Shopping, Hong Kong-listed Parkson Retail and Japan's Isetan Mitsukoshi, is how to fend off cost-competitive rivals from discount stores to Internet shopping in the battle for consumer wallets that have been fattened up by government measures to stimulate the economy.
Despite the downturn, Asia's department store shares still outrank lowerend retailers in valuation, a sign investors see stronger earnings recovery as regional economies turn around.
Asia-Pacific department stores trade at average 39 times of their forecast earnings, compared with 20 for supermarket and convenience store chains,according to Thomson Reuters data.
In China, Taiwan and South Korea,where expensive tastes accompany a rising middle class and asset prices, department stores are associated with brand-name cosmetics and luxury.
"Although the economy is bad, people still want to look good. They'll rather spend money on their face and body to look young, and wear cheaper clothes,"says Shauna Lee, a marketing executive at Taipei's Shinkong Mitsukoshi department store, where throngs of shoppers enjoy the annual sale promotion with shopping vouchers from the government.
In South Korea, August department store sales from top players Lotte Shopping, Shinsegae and Hyundai Department Store rose at the fastest clip in seven months, with consumer sentiment at a seven-year high. Cosmetics, luxury items and premium health foods are consistent leaders. Shares in Hyundai,more focused on upscale shoppers than its peers, have jumped 85% this year.
China's retail sales posted 15% growth in the first three days of the Oct 1-8 "golden week" holidays. The downturn has done little to dent demand for designer handbags and watches, a survey from market research firm Pao Principle shows.
As China's urbanisation and growing wealthy consumer class fuel demand,brand recognition is helping high-end retailers. Department store chain Golden Eagle shares have more than doubled this year.
"The right strategy for department stores is to go even more upscale," said Hyundai Securities analyst S.K. Lee."Those with money keep spending on beauty products and luxury goods."
Shinsegae constantly renews its luxury items offering to compete with special-ised stores around Seoul.
"We were able to post fairly strong earnings thanks to the robust sale of luxury items and cosmetics ... And wealthy consumers' royalty to our groceries section is extremely high," said Shinsegae spokesman Kang Sang-min.
Top Thai shopping centre operator Central Pattana plans to add eight locations a year for six years from 2011.
"There is a sign of an industry pickup and we're not stopping ourselves from expanding," chief financial officer Naris Cheyklin said.
For some Asian department stores,expansion means potential mergers and acquisitions - Lotte Shopping is debating whether to buy Chinese supermarket operator Times Ltd as it seeks a strong brand in a fast-growing market.
In Japan, however, a prolonged retail slump is weighing on upscale retailers,hit by the impact of deflation and job losses.
"Specialty stores like Uniqlo and Nitori are attracting customers. Department stores have failed to respond to changing consumer trends," said Naozumi Nishimura, analyst at a research firm TIW in Tokyo.
Sales at Japanese department store chains, including Isetan Mitsukoshi,J.Front Retailing and Takashimaya,marked the 18th straight month of yearon-year decline in August.
"As for consumer spending, tough times are likely to continue for a little while," said Takashimaya president Koji Suzuki.
"We have been working on structural reform and stepping up marketing efforts,but we cannot make up for falls in sales in this tough economic condition."
Asian retailers in general have still fared better than Western peers as their economies avoided the worst of the fallout from the financial crisis. High-end retailers in the United States and Europe,including Saks, Nordstrom and PPR, have been hit hard by weak sales and consumer focus on value.
The question now is whether Asia's high-end retailers can sustain the upturn once stimulus measures are removed.Monetary tightening has already begun in Australia, South Korea is expected to hike rates early next year, while many other governments are cautiously discussing exit strategies.
In Taiwan, shopping vouchers equivalent to 0.7% of the island's GDP were offered and almost all of them used.
Government cash handouts have also helped Australia's department store chains David Jones and Myer post resilient sales.
An upcoming initial public offering by Myer, Australia's biggest department store chain, could test investors' confidence in retailers.
Although growth in consumer spending across Asia is expected to dip this year, it is forecast to continue its upward trend in the next two years, underpinning the region's department stores.
"I know there is a crisis, but things seem much better now," said Chen Yi,a Beijing housewife shopping with her son at upscale shopping mall "The Place".
Tuesday, October 20, 2009
Central launches "Water Lily in Honour of HM the Queen's 77th Birthday"
Central Department Store is hosting two major events -"Central 62nd Anniversary Celebration" and its annual "Wonders of Plant Varieties"- to help launch "Water Lily in Honour of HM the Queen's 77th Birthday". The event will be held at Central Chidlom from October 29 to November 2.
Regarding the concept,Yuwadee Chirathivat, president of Central Department Stores, said:"This year the event aims to help members of the public appreciate and cherish their identities as Thais. We plan to turn Central Chidlom into a heavenly garden of flowers and plant varieties like every year but we will emphasize the integration of Thai flowers." Naowarat Phongphaiboon, a national artist and SEA Write poet, has graciously invented four new water lily names for vote casting -"Sri Kittya","Kittyadhorn","Rani Siam" and "Patama Rani"- the most popular of which will be submitted to HM the Queen.
Inside the store, a collection of Thai and foreign flowers will be integrated under the concept of "East Meets West". Recognised floral designers including Santipong Kongrak,Thatree Wattanayuenyong and Suksan Jeamkosit, will create a dazzling display throughout the seven-storey Central Chidlom.Along with the floral decoration, food and art displays will help portray the true essence of Thai culture. A new collection of cloth bags in commemoration of Central's 62nd anniversary will be launched, aiming to reduce the usage of plastic bags under its "Central ... Love the Earth" concept.
Central will also launch promotional programmes, which will run from October 29 until November 15, for customers shopping at all Central branches, excluding Zen.
For more information, call 02-793-7777.
Regarding the concept,Yuwadee Chirathivat, president of Central Department Stores, said:"This year the event aims to help members of the public appreciate and cherish their identities as Thais. We plan to turn Central Chidlom into a heavenly garden of flowers and plant varieties like every year but we will emphasize the integration of Thai flowers." Naowarat Phongphaiboon, a national artist and SEA Write poet, has graciously invented four new water lily names for vote casting -"Sri Kittya","Kittyadhorn","Rani Siam" and "Patama Rani"- the most popular of which will be submitted to HM the Queen.
Inside the store, a collection of Thai and foreign flowers will be integrated under the concept of "East Meets West". Recognised floral designers including Santipong Kongrak,Thatree Wattanayuenyong and Suksan Jeamkosit, will create a dazzling display throughout the seven-storey Central Chidlom.Along with the floral decoration, food and art displays will help portray the true essence of Thai culture. A new collection of cloth bags in commemoration of Central's 62nd anniversary will be launched, aiming to reduce the usage of plastic bags under its "Central ... Love the Earth" concept.
Central will also launch promotional programmes, which will run from October 29 until November 15, for customers shopping at all Central branches, excluding Zen.
For more information, call 02-793-7777.
Wednesday, October 14, 2009
Pared down, but still meaty
Reacting to the anticipatory effects generated by last week's commencement of construction of the tent, Bangkok fashionistas who bump into one another every other night at some party or other started bidding adieu with the new catchphrase "Bye, see you at the tent next week!"
Disregarding the daily ominous grey clouds that pose a threat of rain, Bangkok is getting into just the right mood for Elle Fashion Week (EFW). September and early October saw several collection and brand launches.
The Bangkok Fashion Society premiered its latest collection by holding a pop-up show a few weeks ago. Celebrity leatherwear designer Tipanan Krairiksh welcomed a large gathering of journos and invited guests at the opening of her new signature shop at Siam Paragon last week. Munchu's, Vickteerut and its sister line Robshop, together with hip children's wear boutique Rhapsody launched their new offerings this past Sunday at Fallabella. Elle Fashion Week couldn't hope for a more dynamic warm-up.
But what is in store for the fashion crowd on this year's EFW runway? First, the number of shows has dropped to 12, not including the two special promotional shows by CentralWorld and the one by the Department of Export Promotion showcasing its brands in its Designers' Room: Now. Fortunately, size does not matter when it comes to fashion (unless you're a model) and EFW, while losing a few big names such as Issue, Greyhound and Headquarter, has managed to lure back onto the runway some show magnets like Sretsis and Kloset Red Carpet as well as keeping event favourites ranging from Zenithorial and Disaya to Senada Theory on its schedule one more time.
If there's one thing fashionistas will miss at this year's Elle Fashion Week,which kicks off today, it's surely the leading streetwear brands that offer menswear,notably Greyhound and Headquarter.However, a show-stopper like Zenthorial will be present to guarantee excitement with its latest collection celebrating the works of revered fashion lensman Amat Nimitpark, who has been working in the Thai fashion industry for over 25 years.Its display, together with the one that will be put on by 27 Friday, which is also going to present menswear to its huge,loyal fan base, should secure a full-house tent.
Despite the fewer show days and a less-packed schedule, Elle Fashion Week will not be compromising on style diversity.The event welcomes regular masters from Kai, Pisit to Nagara, all of whom will be rolling out their presentations on the same day to ensure that fashion followers coming to keep track of their creative mastery get full benefit by attending. Last year's young designer Vatit Itthi will also be returning to the catwalk to demonstrate that couture and meticulous cutting do not belong to only the seasoned masters.The design duo will be adhering to the
international fashion calendar by showing off their Spring/Summer collection emphasising texture and layering.
Making its first appearance at Elle Fashion Week is Olanor, a brainchild of former Theatre's design assistant Thanes Boonprasan, who has already taken this new brand to several trade shows and fairs abroad.Scheduled to make the scene on the same day as Kai, Nagara and Pisit, the brand will have the opportunity to attract the attention of the same crowd of trendsetters who appreciate refinement and luxury.
Now, now, the rest is girls talk. EFW has embraced all the darlings of young female fashionistas to the fold once again.Sretsis, Senada, Kloset Red Carpet, Disaya and Asava have promised to continue to be show magnets this year. Disaya will open the event with a collection that glistens even in an era of darkness called Celestial Warrior. Asava tackles the concept of changing lifestyles brought about by the economic downturn in its Wall Street Goddess collection. Sretsis goes back to its seemingly basic yet slightly eccentric Metamorphosis theme. The collection celebrates design as a process of transformation and will feature the season's must-haves, such as reversible dresses.Kloset Red Carpet puts on the grand finale to the four-day event with a collection inspired by Tangrams, the puzzle board game.
EFW will also be featuring two special shows by CentralWorld that will see models strutting on the runway wearing the current season's items created by international brands like Mango, Castro and Topshop to offer fashionistas mix-and-match ideas.
Elle Fashion Week Autumn/Winter 2009 at CentralWorld begins today until Sunday.
Disregarding the daily ominous grey clouds that pose a threat of rain, Bangkok is getting into just the right mood for Elle Fashion Week (EFW). September and early October saw several collection and brand launches.
The Bangkok Fashion Society premiered its latest collection by holding a pop-up show a few weeks ago. Celebrity leatherwear designer Tipanan Krairiksh welcomed a large gathering of journos and invited guests at the opening of her new signature shop at Siam Paragon last week. Munchu's, Vickteerut and its sister line Robshop, together with hip children's wear boutique Rhapsody launched their new offerings this past Sunday at Fallabella. Elle Fashion Week couldn't hope for a more dynamic warm-up.
But what is in store for the fashion crowd on this year's EFW runway? First, the number of shows has dropped to 12, not including the two special promotional shows by CentralWorld and the one by the Department of Export Promotion showcasing its brands in its Designers' Room: Now. Fortunately, size does not matter when it comes to fashion (unless you're a model) and EFW, while losing a few big names such as Issue, Greyhound and Headquarter, has managed to lure back onto the runway some show magnets like Sretsis and Kloset Red Carpet as well as keeping event favourites ranging from Zenithorial and Disaya to Senada Theory on its schedule one more time.
If there's one thing fashionistas will miss at this year's Elle Fashion Week,which kicks off today, it's surely the leading streetwear brands that offer menswear,notably Greyhound and Headquarter.However, a show-stopper like Zenthorial will be present to guarantee excitement with its latest collection celebrating the works of revered fashion lensman Amat Nimitpark, who has been working in the Thai fashion industry for over 25 years.Its display, together with the one that will be put on by 27 Friday, which is also going to present menswear to its huge,loyal fan base, should secure a full-house tent.
Despite the fewer show days and a less-packed schedule, Elle Fashion Week will not be compromising on style diversity.The event welcomes regular masters from Kai, Pisit to Nagara, all of whom will be rolling out their presentations on the same day to ensure that fashion followers coming to keep track of their creative mastery get full benefit by attending. Last year's young designer Vatit Itthi will also be returning to the catwalk to demonstrate that couture and meticulous cutting do not belong to only the seasoned masters.The design duo will be adhering to the
international fashion calendar by showing off their Spring/Summer collection emphasising texture and layering.
Making its first appearance at Elle Fashion Week is Olanor, a brainchild of former Theatre's design assistant Thanes Boonprasan, who has already taken this new brand to several trade shows and fairs abroad.Scheduled to make the scene on the same day as Kai, Nagara and Pisit, the brand will have the opportunity to attract the attention of the same crowd of trendsetters who appreciate refinement and luxury.
Now, now, the rest is girls talk. EFW has embraced all the darlings of young female fashionistas to the fold once again.Sretsis, Senada, Kloset Red Carpet, Disaya and Asava have promised to continue to be show magnets this year. Disaya will open the event with a collection that glistens even in an era of darkness called Celestial Warrior. Asava tackles the concept of changing lifestyles brought about by the economic downturn in its Wall Street Goddess collection. Sretsis goes back to its seemingly basic yet slightly eccentric Metamorphosis theme. The collection celebrates design as a process of transformation and will feature the season's must-haves, such as reversible dresses.Kloset Red Carpet puts on the grand finale to the four-day event with a collection inspired by Tangrams, the puzzle board game.
EFW will also be featuring two special shows by CentralWorld that will see models strutting on the runway wearing the current season's items created by international brands like Mango, Castro and Topshop to offer fashionistas mix-and-match ideas.
Elle Fashion Week Autumn/Winter 2009 at CentralWorld begins today until Sunday.
Tuesday, October 13, 2009
Mall's animal exhibit described as "torture"
Environmentalists have accused the organisers of the "King of the Jungle"wildlife exhibition at the Emporium shopping mall of animal torture.
"A white tiger is locked up in a confined cage, a young jumbo is forced to walk around under the scorching sun to promote the event, while the nocturnal barn owl has to endure flashlights from visitors' cameras," said Vanchai Tantivitayapitak, deputy secretarygeneral of the Green World Foundation.
The King of the Jungle Flora & Fauna Exotica runs from Oct 8 to 18 with free admission. It is co-organised by several state agencies, such as the Zoological Park Organisation (ZPO), the Natural Resources and Environment Ministry,the Chiang Mai Night Safari, and the Bangkok Metropolitan Administration.
Among the animals and plants displayed at the shopping complex are a lion, a meerkat, a rusa deer, a bateared fox, an ostrich and lemurs.
Mr Vanchai said the exhibition was a distasteful marketing strategy that abuses wildlife for business purposes.
"All of the animals on display are apparently stressed because they are kept in an unsuitable environment. They can even go into shock and die," he said.
The veteran environmentalist blasted the ZPO for cooperating with business people to exploit the animals.
Rangsarit Kanchanavanich, of the Sueb Nakhasathien Foundation, said state and private agencies misunderstood that the display of animals in shopping malls would raise environmental awareness among the public.
"This kind of activity is torturing animals and will send a wrong signal to younger generations that humans can do anything with these creatures,"he said.
Amphan Patharakorn,the Emporium's operations general manager, said the event, held under the theme "Save the world. Save the wild",was aimed at promoting environmental awareness and educating children about wild animals.
The animals were being taken care of by a team of veterinarians from state agencies.
"The veterinarians are on standby to look after the animals and to ensure the safety of visitors," she said.
ZPO chief Sophon Damnui said the animals had been hired from zoos and farms so they were used to crowds."Moreover, they will only be [at the shopping mall] for 10 days, not forever,"he said.
"A white tiger is locked up in a confined cage, a young jumbo is forced to walk around under the scorching sun to promote the event, while the nocturnal barn owl has to endure flashlights from visitors' cameras," said Vanchai Tantivitayapitak, deputy secretarygeneral of the Green World Foundation.
The King of the Jungle Flora & Fauna Exotica runs from Oct 8 to 18 with free admission. It is co-organised by several state agencies, such as the Zoological Park Organisation (ZPO), the Natural Resources and Environment Ministry,the Chiang Mai Night Safari, and the Bangkok Metropolitan Administration.
Among the animals and plants displayed at the shopping complex are a lion, a meerkat, a rusa deer, a bateared fox, an ostrich and lemurs.
Mr Vanchai said the exhibition was a distasteful marketing strategy that abuses wildlife for business purposes.
"All of the animals on display are apparently stressed because they are kept in an unsuitable environment. They can even go into shock and die," he said.
The veteran environmentalist blasted the ZPO for cooperating with business people to exploit the animals.
Rangsarit Kanchanavanich, of the Sueb Nakhasathien Foundation, said state and private agencies misunderstood that the display of animals in shopping malls would raise environmental awareness among the public.
"This kind of activity is torturing animals and will send a wrong signal to younger generations that humans can do anything with these creatures,"he said.
Amphan Patharakorn,the Emporium's operations general manager, said the event, held under the theme "Save the world. Save the wild",was aimed at promoting environmental awareness and educating children about wild animals.
The animals were being taken care of by a team of veterinarians from state agencies.
"The veterinarians are on standby to look after the animals and to ensure the safety of visitors," she said.
ZPO chief Sophon Damnui said the animals had been hired from zoos and farms so they were used to crowds."Moreover, they will only be [at the shopping mall] for 10 days, not forever,"he said.
Sunday, October 11, 2009
CENTRAL CHIEF KEEPS FATHER'S VISION ALIVE
Pursuing her late father's vision, Yuwadee Chirathivat, president of Central Department Store, has fully dedicated herself to the retail business founded by her family 62 years ago.
"I love my father, Samrit, who is my idol. He always dedicated himself to his work and to the family business," said Yuwadee, 56, who is a member of the third generation of the Chirathivat family to run the business.
Yuwadee described her father as a man with a vision. He was among the pioneers |of the Thai retail business, who first |bought products from abroad and sold |them to Thai customers. His first store, Central Chidlom Department Store, initially had two storeys, but was designed so that up to five additional stories could be added. He opened Central Lat Phrao, which was the first shopping complex outside Bangkok, soon after.
Yuwadee said her father strived to improve his business every day. What mattered most to him, she said, was delivering satisfaction to customers. He worked on all
details of the business, right down to the design of the shopping complexes.
"All our staff have contributed to the success of Central Department Store. We have a good business foundation and the ability to develop and offer products that are unique," she said.
Yuwadee is the third of Samrit and Vanida Chirathivat's eight children. Samrit started the first shop 60 years ago with her grandfather, selling magazines. Products advertised by foreigners in these publications prompted Chirathivat senior to establish a business that would soon grow into what is now Central, one of Thailand's biggest conglomerates and a leading retailer in Southeast Asia.
Yuwadee received her tertiary education at Thammasat University and graduated in 1975 with an honour's degree in Liberal Arts, majoring in English literature. She received the Bhumibol Award from His Majesty the King for achieving the highest grade in her department, and went on to graduate with a master's of science in journalism, followed by an advertising degree from Northwestern University in the US state of Illinois in 1977.
Her professional career began in New York, where she started as a trainee with the agency Ogilvy & Mather, and was soon taking on challenges as accounts director. She joined Central Department Store in 1981 as a floor manager and progressed to president in 1996. Presently, she manages 15 department stores. She was subsequently appointed executive vice president and a board member of Central Retail Corp.
"Central Department Store's success is the result of various factors. These include good merchandising management, strong service operation, visual merchandising and marketing," she said.
Yuwadee loves travelling around the world in search of inspiration and new retailing ideas. "I have travelled to more than 30 countries. I love to experience different cultures."
As a family business, one of Central's strengths is continuity of operations, she said. "However, we run our retail business professionally. We never stop developing personnel who fit well within our culture."
She added that it was time for Central Department Store to look abroad for new markets, as the Thai retail market has fewer opportunities right now.
In April, Central plans to |open its first retail outlet in China, in the city of Hangzhou. The second is planned for Shenyang in 2011.
Yuwadee said Central Depart-ment Store achieved 7-per-cent growth year on year in the third quarter. The company also expects more than 7-per-cent growth in the current quarter.
"We target sales growth of 5 per cent to Bt27 billion for the full year," she said.
"I love my father, Samrit, who is my idol. He always dedicated himself to his work and to the family business," said Yuwadee, 56, who is a member of the third generation of the Chirathivat family to run the business.
Yuwadee described her father as a man with a vision. He was among the pioneers |of the Thai retail business, who first |bought products from abroad and sold |them to Thai customers. His first store, Central Chidlom Department Store, initially had two storeys, but was designed so that up to five additional stories could be added. He opened Central Lat Phrao, which was the first shopping complex outside Bangkok, soon after.
Yuwadee said her father strived to improve his business every day. What mattered most to him, she said, was delivering satisfaction to customers. He worked on all
details of the business, right down to the design of the shopping complexes.
"All our staff have contributed to the success of Central Department Store. We have a good business foundation and the ability to develop and offer products that are unique," she said.
Yuwadee is the third of Samrit and Vanida Chirathivat's eight children. Samrit started the first shop 60 years ago with her grandfather, selling magazines. Products advertised by foreigners in these publications prompted Chirathivat senior to establish a business that would soon grow into what is now Central, one of Thailand's biggest conglomerates and a leading retailer in Southeast Asia.
Yuwadee received her tertiary education at Thammasat University and graduated in 1975 with an honour's degree in Liberal Arts, majoring in English literature. She received the Bhumibol Award from His Majesty the King for achieving the highest grade in her department, and went on to graduate with a master's of science in journalism, followed by an advertising degree from Northwestern University in the US state of Illinois in 1977.
Her professional career began in New York, where she started as a trainee with the agency Ogilvy & Mather, and was soon taking on challenges as accounts director. She joined Central Department Store in 1981 as a floor manager and progressed to president in 1996. Presently, she manages 15 department stores. She was subsequently appointed executive vice president and a board member of Central Retail Corp.
"Central Department Store's success is the result of various factors. These include good merchandising management, strong service operation, visual merchandising and marketing," she said.
Yuwadee loves travelling around the world in search of inspiration and new retailing ideas. "I have travelled to more than 30 countries. I love to experience different cultures."
As a family business, one of Central's strengths is continuity of operations, she said. "However, we run our retail business professionally. We never stop developing personnel who fit well within our culture."
She added that it was time for Central Department Store to look abroad for new markets, as the Thai retail market has fewer opportunities right now.
In April, Central plans to |open its first retail outlet in China, in the city of Hangzhou. The second is planned for Shenyang in 2011.
Yuwadee said Central Depart-ment Store achieved 7-per-cent growth year on year in the third quarter. The company also expects more than 7-per-cent growth in the current quarter.
"We target sales growth of 5 per cent to Bt27 billion for the full year," she said.
Wednesday, October 7, 2009
Flora and fauna exotica
Many animals, plants, trees and flowers are rarely seen in everyday life, but the Emporium shopping complex is offering the chance to see a white tiger, a long-tailed macaque,a kinkajou, a kangaroo rat and a mata mata in action.
The Emporium is joining hands with the Ministry of Natural Resources and Environment, the Ministry of En-ergy, the Tourism Authority of Thailand and the Green Alliance Network to present the third installation of "Emporium Flora & Fauna Exotica:King of the Jungle". To encourage people to conserve and protect nature and the environment, the complex will be transformed into an African landscape under the concept "Save the World Save the wild". The event will feature eight zones: King of The Jungle, Protea Extravaganza, Saving Energy, The Chronicle of Nature, Magnificent Meerkat, Jungle of Apes, The African Quest and Magnificent Bird Paradise.
The animal extravaganza is on at the Emporium shopping complex until October 18. For more information, call 02-310-1846.
The Emporium is joining hands with the Ministry of Natural Resources and Environment, the Ministry of En-ergy, the Tourism Authority of Thailand and the Green Alliance Network to present the third installation of "Emporium Flora & Fauna Exotica:King of the Jungle". To encourage people to conserve and protect nature and the environment, the complex will be transformed into an African landscape under the concept "Save the World Save the wild". The event will feature eight zones: King of The Jungle, Protea Extravaganza, Saving Energy, The Chronicle of Nature, Magnificent Meerkat, Jungle of Apes, The African Quest and Magnificent Bird Paradise.
The animal extravaganza is on at the Emporium shopping complex until October 18. For more information, call 02-310-1846.
Friday, October 2, 2009
BALANCING THE FUTURE
Bangkok will once again play host to a unique art and design showcase when the "Bangkok Design Festival 2009" raises its curtains next week.The third edition to be held, this year's festival involves innovation, creativity and sustainability under the idea of "Balancing the Future."
The 14-day event, from October 8-21,will take place at various hot spot venues around the city - Thailand Creative and Design Centre (TCDC), Bangkok Art and Culture Centre,Siam Paragon, Siam Centre, Siam Discovery,The Emporium and Impact Arena Muang Thong Thani. There are also exhibitions in public spaces such as Victory Monument.
On show are stunning works by professional and young designers, both Thai and foreign,special themed projects, interesting activities, top thesis by design students from various universities, a Thainess show, a creative party, an art fair and a mini mart.
"Bangkok Design Festival 2009 will lead Thailand to the era of a new economy via the tactics of creative work," said Alongkorn Pollabutr,deputy minister of commerce.
"The event also goes in line with the government's Creative Thailand in-
tiative, aimed at turning Thailand
into the hub of creative industry
in Asean and to enhance the
economic value of creative
industry."
"In the art and design industry, Thai designers
are second to none in
terms of their knowledge
and talent and the Bangkok Design Festival is an excellent platform to unwaveringly drive Thailand's design industry to the international level,"said Mayuree Chaipromprasith, marketing promotion senior director of Siam Paragon Development Co."This year, we have highlights at every spot. Among them, the Degree Show, which presents the year's top thesis by students in interior, product, graphic,fashion and jewellery design as well as animation," said Prathan Theerathada,director of the Bangkok Design Festival.
"Another fascinating exhibition is the showcase of more than 70 pieces of work from seven different fields creatively displayed in five Design Containers among balloons," he said."Despite a limited area, larger-than-life quality is guaranteed
and you can see these ou-
standing pieces for yourselves at Parc Par-
gon, Siam Paragon."
The programme also includes "Creative City km.0." This year, Change Bangkok Project continues what it began earlier. From last year, the selected photographs of places in Bangkok that need change the most is the Victory Monument (km 0).
The designers responsible for the change are Maria Stukoff, an artist from the United Kingdom, and Apostrophy's from Thailand.
In the heart of the city at Siam Paragon is "DEmark", a selection of good design works by Thai entrepreneurs and designers in a contest of DEmark 2009 Award (Design Excellence Award) organised by the Office of Product Value Development, Department of Export Promotion, Ministry of Commerce. This is a golden opportunity for art enthusiasts to admire these creations at the Hall of Mirror, M floor.
At Siam Centre's Atrium 2 on the first floor is the "Shoes' Cream by Gold City",an exhibition of shoes designed by students from Silpakorn University, King Mongkut Institute of Technology Lad Krabang and Srinakarinviroj University.
Causing quite a stir and fun among Thai graphic designers is the project,"I am a Thai Graphic Designer" by Practical Studio. The project, set to take place in the Grand Hall of SiamDiscovery, showcases more than 1,000 works by graphic designers from across the country.
Each work is presented using photographs of each designer holding a plate with his/her own design of the phrase "I am a Thai Graphic Designer." Related activities in this area include a graphic design workshop for high school stu-dents, and seminar on the topic "Put the strong faith in Thailand by Thai graphic designers."
Also on show in the Grand Hall is the "Illustration Poster by Takashi Akiyama"exhibition. Akiyama is a world-renowned Japanese visual communicator and graphic design professor at Tama Art University. Through some 40 posters,Akiyama communicates stories with illustrations that convey profound meanings that are beyond the ability of words or any international languages to communicate.
On show at the Bangkok Art and Culture Centre is "Do It Together by Knotting Else" featuring works of 10 leading interior design companies presented in the Tetris puzzles pattern. The exhibition gathers recycled materials under Green Design or environmentally-friendly design concepts from each company.
BIG+BIH at Challenger Hall, Impact Muang Thong Thani, will probably be the most familiar event as it's been held for many years. This year, the event is held under the theme,"Unique Lifestyle",with a trade fair and exhibitions showcasing updated movements in both local and international product design scenes.
"Bangkok Design Festival 2009", October 8-21, at various venues around the city. For full activities and exhibition programme,venues and map, please visit www.bangkokdesignfestival.com.
Work from the "Designers Saturday"showcase (above);and two art pieces from the "Abundant Australia" exhibition (below and right).
This year's festival features stunning works of art and design by professional and young designers.
The 14-day event, from October 8-21,will take place at various hot spot venues around the city - Thailand Creative and Design Centre (TCDC), Bangkok Art and Culture Centre,Siam Paragon, Siam Centre, Siam Discovery,The Emporium and Impact Arena Muang Thong Thani. There are also exhibitions in public spaces such as Victory Monument.
On show are stunning works by professional and young designers, both Thai and foreign,special themed projects, interesting activities, top thesis by design students from various universities, a Thainess show, a creative party, an art fair and a mini mart.
"Bangkok Design Festival 2009 will lead Thailand to the era of a new economy via the tactics of creative work," said Alongkorn Pollabutr,deputy minister of commerce.
"The event also goes in line with the government's Creative Thailand in-
tiative, aimed at turning Thailand
into the hub of creative industry
in Asean and to enhance the
economic value of creative
industry."
"In the art and design industry, Thai designers
are second to none in
terms of their knowledge
and talent and the Bangkok Design Festival is an excellent platform to unwaveringly drive Thailand's design industry to the international level,"said Mayuree Chaipromprasith, marketing promotion senior director of Siam Paragon Development Co."This year, we have highlights at every spot. Among them, the Degree Show, which presents the year's top thesis by students in interior, product, graphic,fashion and jewellery design as well as animation," said Prathan Theerathada,director of the Bangkok Design Festival.
"Another fascinating exhibition is the showcase of more than 70 pieces of work from seven different fields creatively displayed in five Design Containers among balloons," he said."Despite a limited area, larger-than-life quality is guaranteed
and you can see these ou-
standing pieces for yourselves at Parc Par-
gon, Siam Paragon."
The programme also includes "Creative City km.0." This year, Change Bangkok Project continues what it began earlier. From last year, the selected photographs of places in Bangkok that need change the most is the Victory Monument (km 0).
The designers responsible for the change are Maria Stukoff, an artist from the United Kingdom, and Apostrophy's from Thailand.
In the heart of the city at Siam Paragon is "DEmark", a selection of good design works by Thai entrepreneurs and designers in a contest of DEmark 2009 Award (Design Excellence Award) organised by the Office of Product Value Development, Department of Export Promotion, Ministry of Commerce. This is a golden opportunity for art enthusiasts to admire these creations at the Hall of Mirror, M floor.
At Siam Centre's Atrium 2 on the first floor is the "Shoes' Cream by Gold City",an exhibition of shoes designed by students from Silpakorn University, King Mongkut Institute of Technology Lad Krabang and Srinakarinviroj University.
Causing quite a stir and fun among Thai graphic designers is the project,"I am a Thai Graphic Designer" by Practical Studio. The project, set to take place in the Grand Hall of SiamDiscovery, showcases more than 1,000 works by graphic designers from across the country.
Each work is presented using photographs of each designer holding a plate with his/her own design of the phrase "I am a Thai Graphic Designer." Related activities in this area include a graphic design workshop for high school stu-dents, and seminar on the topic "Put the strong faith in Thailand by Thai graphic designers."
Also on show in the Grand Hall is the "Illustration Poster by Takashi Akiyama"exhibition. Akiyama is a world-renowned Japanese visual communicator and graphic design professor at Tama Art University. Through some 40 posters,Akiyama communicates stories with illustrations that convey profound meanings that are beyond the ability of words or any international languages to communicate.
On show at the Bangkok Art and Culture Centre is "Do It Together by Knotting Else" featuring works of 10 leading interior design companies presented in the Tetris puzzles pattern. The exhibition gathers recycled materials under Green Design or environmentally-friendly design concepts from each company.
BIG+BIH at Challenger Hall, Impact Muang Thong Thani, will probably be the most familiar event as it's been held for many years. This year, the event is held under the theme,"Unique Lifestyle",with a trade fair and exhibitions showcasing updated movements in both local and international product design scenes.
"Bangkok Design Festival 2009", October 8-21, at various venues around the city. For full activities and exhibition programme,venues and map, please visit www.bangkokdesignfestival.com.
Work from the "Designers Saturday"showcase (above);and two art pieces from the "Abundant Australia" exhibition (below and right).
This year's festival features stunning works of art and design by professional and young designers.
Local wisdom through metal
channel0134Both children and adults are invited to learn more about our local wisdom in the ancient times during the "Thai Wisdom Through Metal Crafts" exhibition, which is running at Phufa Treasure Trove on the 4th floor of Siam Paragon until the end of the year.
channel0134Jointly organised by the Department of Archaeology, Faculty of Archaeology, Silpakorn University, the exhibition focuses more on metal crafts which can reflect our local wisdom in terms of how our ancestors 3,000 years ago managed to use fire to create such cultural objects.
channel0134Samples of ancient and present metal objects as well as pictures of selected metal pieces and of metalworking activities are on display with the aim of providing the general public with the preliminary knowledge related to metal crafts in Thailand.
channel0134Besides getting a bigger picture of the importance of local wisdom, visitors will learn about ancient metalworking in the Kingdom from the prehistoric periods to the present time.Examples of important archaeological sites related to ancient metal production in the country are also exhibited.RT
channel0134The exhibition opens daily from 11am-7pm. Admission is free of charge. For more information, please contact Phufa Treasure Trove on 02-129-4556.
channel0134Jointly organised by the Department of Archaeology, Faculty of Archaeology, Silpakorn University, the exhibition focuses more on metal crafts which can reflect our local wisdom in terms of how our ancestors 3,000 years ago managed to use fire to create such cultural objects.
channel0134Samples of ancient and present metal objects as well as pictures of selected metal pieces and of metalworking activities are on display with the aim of providing the general public with the preliminary knowledge related to metal crafts in Thailand.
channel0134Besides getting a bigger picture of the importance of local wisdom, visitors will learn about ancient metalworking in the Kingdom from the prehistoric periods to the present time.Examples of important archaeological sites related to ancient metal production in the country are also exhibited.RT
channel0134The exhibition opens daily from 11am-7pm. Admission is free of charge. For more information, please contact Phufa Treasure Trove on 02-129-4556.
BOLLYWOOD MUSICAL DEBUTS IN BANGKOK
Bangkok has embraced a number of marvellous musicals from both New York's Broadway and London's West End in recent years, not to mention many Thai-branded yet sold-out musicals of our local taste. Each of the shows became the talk of the town and makes Thai audiences eager to see more of such lavish productions full of joyful dance moves and popular music.
And in only three weeks' time, we will see musicals in a new light when the highlyacclaimed The Merchants of Bollywood will be making its debut in the Kingdom with eight rounds at the Royal Paragon Hall of Siam Paragon on Oct 22-26. The showtime is 7:30pm on Thur and Mon, and 1pm and 5pm on Fri-Sun.
Featuring music composed by Oscarwinning composer AR Rahman,The Merchants of Bollywood is an all-singing,all dancing Bollywood musical extravaganza that has already been hailed as a spectacular success by audiences and critics in the United Kingdom, Spain, Italy, Germany,Switzerland, South Africa, Australia and Malaysia.
Set to appear in Bangkok will be its original cast, which has been travelling around the world performing to sold-out theatres.
The production features 1,200 costume changes and 2,500 pieces of Indian jewellery for a cast of 53, as well as 40 years of Bollywood history wrapped up into 90 minutes of swirling colours, sparkle, shimmer and electrifying energy that excites the senses.
It tells the tale of Ayesha Merchant, the granddaughter of Shantilal Merchant, one of Bollywood's most acclaimed choreographers from the Hindi film industry's golden era.
Shantilal has taught Ayesha Indian classical dance in their home in Rajasthan, but Ayesha has dreams of making her name in Bollywood. She then leaves home for Mumbai and finds great success in films.
Her rebellion against her classical training, in favour of modern western dance styles, was the seed of the feud with her grandfather. The damage seems irreparable.However, the emotional pull of her dying grandfather and her childhood sweetheart Uday lure her home.
There is no-one left to continue the family tradition - performing the dance of the Gods. So Ayesha decides to marry Uday,run her father's dance school and maintain the family traditions. But she will run the school her way, with a balance of old and new.
The finale of the show is colourful, thrilling, high-energy fusion of folk, classical,modern, Western and Indian dance forms.Tears are shed, old wounds are healed,age-old conflicts are reconciled in a powerful journey to the sacred heart of dance.
The narrated story unfolds in the form of high-energy dance routines, by a terrific company - all with toned bellies and perfect bodies. Audiences can look forward to a cast whose energy is electrifying and dance moves suffused with a rush of joy and yet ruthlessly precise.
And the musical's final number,It's Time to Disco , taken from the Bollywood hit Kal Ho Naa Ho , is bound to have any audience on their feet and dancing.
Tickets for The Merchants of Bollywood cost 900,1,500,2,000 and 3,000 baht and can be purchased from Thaiticketmajor booths. Call 02-262-3456 orvisit www.thaiticketmajor.com.
And in only three weeks' time, we will see musicals in a new light when the highlyacclaimed The Merchants of Bollywood will be making its debut in the Kingdom with eight rounds at the Royal Paragon Hall of Siam Paragon on Oct 22-26. The showtime is 7:30pm on Thur and Mon, and 1pm and 5pm on Fri-Sun.
Featuring music composed by Oscarwinning composer AR Rahman,The Merchants of Bollywood is an all-singing,all dancing Bollywood musical extravaganza that has already been hailed as a spectacular success by audiences and critics in the United Kingdom, Spain, Italy, Germany,Switzerland, South Africa, Australia and Malaysia.
Set to appear in Bangkok will be its original cast, which has been travelling around the world performing to sold-out theatres.
The production features 1,200 costume changes and 2,500 pieces of Indian jewellery for a cast of 53, as well as 40 years of Bollywood history wrapped up into 90 minutes of swirling colours, sparkle, shimmer and electrifying energy that excites the senses.
It tells the tale of Ayesha Merchant, the granddaughter of Shantilal Merchant, one of Bollywood's most acclaimed choreographers from the Hindi film industry's golden era.
Shantilal has taught Ayesha Indian classical dance in their home in Rajasthan, but Ayesha has dreams of making her name in Bollywood. She then leaves home for Mumbai and finds great success in films.
Her rebellion against her classical training, in favour of modern western dance styles, was the seed of the feud with her grandfather. The damage seems irreparable.However, the emotional pull of her dying grandfather and her childhood sweetheart Uday lure her home.
There is no-one left to continue the family tradition - performing the dance of the Gods. So Ayesha decides to marry Uday,run her father's dance school and maintain the family traditions. But she will run the school her way, with a balance of old and new.
The finale of the show is colourful, thrilling, high-energy fusion of folk, classical,modern, Western and Indian dance forms.Tears are shed, old wounds are healed,age-old conflicts are reconciled in a powerful journey to the sacred heart of dance.
The narrated story unfolds in the form of high-energy dance routines, by a terrific company - all with toned bellies and perfect bodies. Audiences can look forward to a cast whose energy is electrifying and dance moves suffused with a rush of joy and yet ruthlessly precise.
And the musical's final number,It's Time to Disco , taken from the Bollywood hit Kal Ho Naa Ho , is bound to have any audience on their feet and dancing.
Tickets for The Merchants of Bollywood cost 900,1,500,2,000 and 3,000 baht and can be purchased from Thaiticketmajor booths. Call 02-262-3456 orvisit www.thaiticketmajor.com.
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