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Continue ReadingWho owns a union mall? / By Investing Man
After Thailand loosen the lockdown
Malls are starting to get back up
By one of the back up malls, especially among teenagers.
It's Union Mall. Fashion source in the heart of five. Ladprao separate.
And do we ever wonder if
Who owns Union Mall
And what's the highlight of this mall?
Invest man will tell you about it.
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First, let's get to know the owner of Union Mall.
In fact, Union Mall is a Sirichit family business.
Now I have run a business to the 2th generation of heirs with executives.
Being the eldest daughter of the family is Khun Jiraphat Sirichit
Many people may not be familiar yet. Sirichit family.
But seriously, this family is another pioneer of the department store business in Thailand.
At the mall, it's ′′ Bonanza Mall ′′ located on the welding way.
Between Siam Square and Mobunnong.
If anyone has visited Siam in the past.
Bonanza Mall is one of the center of popular fashion stores.
For teenagers in that neighborhood and also the source of selling student uniforms.
Interesting thing is that the BONANSA MALL business model will break the rental area into small boot for small shops instead of modeling large stores like other malls.
The idea was originally from Mr. Prachaphati, your father Jiraphat, traveling to Singapore and Hong Kong, finding that the rental price in the trade would be more expensive, which would make the small rental area more likely to be popular in the next time.
This is how the Sirichit family brings such observation to the business until it becomes Bonanza Mall.
Afterwards, Mr. Jiraphatsirichit, the oldest daughter has graduated from the USA.
She started helping out at Bonanza Mall for a while.
Until the days have passed until the 2540 s or the Tom Yum Kung Economy crisis that has become a major disaster for many businesses in Thailand.
But for the Sirichit family, they decided to start planning a business expansion on a family land in five intersection. Latrun since then.
Because of opportunity and anticipation, this space has enough potential to become future innovation.
9 years later, what was planned successfully became a Union Mall with DNA and business experience from Bonanza Mall that eventually shuts itself down from returning the area to the area. Chulalongkorn
Union Mall has become a department store for minor stores similar to Bonanza, but has a bigger scale, more versatile and is a rental area for over 1,500 minor stores.
Do you know how much income the Union Mall is?
If we refer to the main income from the Department of Business Development, the latest trade.
Siam Chatuchak Co Ltd. The owner of Union Mall.
Year 2559 Income 474 million baht, profit 126 million baht.
Year 2560 Income 478 million baht, profit 184 million baht.
Year 2561 Income 494 million baht, profit 108 million baht.
From the result, it shows that even Union Mall is in a department store business.
Many people are saying that they will get displays from online channel.
This department store also has consistent income and produces good profits all the time.
The obvious thing from this year's crisis is.
After Thailand started loosing the lockdown.
Union Mall is also a shopping source of Thai teenagers.
Upbeat and seemingly a quick recovery
This is probably because Union Mall is unique.
There is an unacceptable customer group from the mall in the same neighborhood.
But we can't deny that department store business is one of the businesses facing challenges from Ecommerce business.
That's changing our behaviour to trading through a smartphone screen instead of a storefront.
We have to keep up with the uniqueness of Union Mall.
How to face this challenge and how to adapt
However, this has given us some ideas.
Sometimes business ideas can happen from traveling experiences as well.
As the Sirichit family finds out
Business model, small boot rental area.
Will be available at shops in Thailand
So it's really like this with Bonanza and Union Mall..
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References
- Corporate official website
- Department of Business Development, Trade
-Manager Online
- newtvTranslated
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