Flexform, an Italian furniture maker, officially opened its largest Asean flagship store yesterday in Bangkok's Thong Lor Soi 10.
Giuliano Galimberti, export sales director and a board member at Flexform, said the company opened the first monobrand Flexform in Bangkok because of residents' sophisticated lifestyles.
"We feel Thailand is very design-sensitive and very interested in Italian high-end products, and the demand for the concept of Italian design we export all over the world is steadily increasing," Mr Galimberti said. "Asia nowadays also represents an important volume of the company's turnover, which is around 20%, and sales in Asia are very impressive with growth between 30% and 50%."
Flexform products are available in more than 70 countries worldwide and at 34 monobrand stores.
In Thailand, Flexform established its presence about 20 years ago through local dealers.
The company appointed Arkitektura Co, a distributor of high-end home decor imported from Europe, as the authorised dealer of Flexform in Thailand earlier this year.
Somchai Akkarawittayapoom, managing director of Arkitektura, said the company spent 40 million baht to open the Flexform flagship store with 300 square metres of space in Thong Lor Soi 10.
"Having Flexform furniture under our portfolio will fulfil our product lines to cover all product sectors from bathroom and kitchenware to wardrobe and bedding," Mr Somchai said.
Flexform targets upper-class customers who own properties valued at over 50 million baht.
Mr Somchai expects Flexform sales to increase in increments of 10% a year.
Despite the sluggish outlook for a domestic furniture market worth about 80 billion baht a year, high-end furniture sales are preforming strongly, fuelled by the expansion of the upper-end property market, and especially the super-luxury and ultra-luxury segments, Mr Somchai said.
"We are confident in the bright potential of luxury or ultra-luxury condominiums located in prime areas," he said. "The market is expected to continue to grow, as reflected in investment by major and small developers who are still moving forward to launch luxury and ultra-luxury condominium projects. This will directly affect the high-end furniture market, which will expand accordingly."
Flexform offers furniture items in classic, vintage and modern styles, including sofas, beds, armchairs and dining sets.
Prices start from 100,000 baht.
Arkitektura forecasts the introduction of Flexform in Thailand to boost the company's overall sales by at least 25% to 600 million baht, reaching 1 billion baht in the next 4-5 years.
