Hafele aims for continued momentum
Upmarket properties driving fittings sales
Hafele Thailand Ltd, the local unit of the German furniture fittings maker, looks for further sales growth of more than 10% next year, driven by the booming upper-end property market.
Managing director Volker Hellstern said the company’s sales growth in 2019 will benefit from the large number of highend condo projects scheduled for completion next year.
“We are optimistic about Thailand because the economy is good and the property market continues growing,” he said. “The general election next year will drive market sentiment.”
The upper-end segment, including condos and hotels, accounts for more than half of sales from property projects, he said.
Property projects represent 44% of the company’s annual sales, followed by retail sales (40%) and furniture factory sales (16%).
Property consultant CBRE Thailand reported a record-high 13,855 new condo units will be completed in downtown Bangkok in 2018, up from 6,709 in 2017.
The new condo supply launched in downtown last year totalled 12,544 units, the highest figure in history, CBRE said.
Hafele sales director Rattana Poonsanga said the company aims for 3.65 billion baht in sales for 2018, up 12% from 2017.
“The key driver this year will be sales from property projects in all market segments, which grew by 30% in the first eight months from the same period last year,” Mr Rattana said. “High-end condo projects in the central business district generated the biggest growth for us.”
Hafele plans to spend 400 million baht to build a new warehouse with a usable area of 10,000 square metres on a 32-rai plot on Bang Na-Trat Road, where the firm now has a 10,000-sq-m warehouse.
“The new warehouse will be for premium products that we plan to import to Thailand,” Mr Rattana said.
Piling work will start by the end of this month for completion in the fourth
quarter next year.
Hafele plans to spend 40 million baht on new showrooms, adding to the current six in Sukhumvit Soi 64, Bang Pho, Chiang Mai, Pattaya, Hua Hin and Phuket.
Hafele yesterday launched a marketing campaign with actress Kimberly Ann Voltemas as the first brand ambassador to introduce products to end-users.
The company has introduced an online channel to tout small appliances and decorative items and aims to have 30 million baht in sales from the website next year.
We are optimistic about Thailand because the economy is good and the property market continues growing. VOLKER HELLSTERN Managing director, Hafele Thailand