| SK Jewellery Group (formerly Soo Kee Group) has opened its flagship Love & Co. store in Bangkok in its first foray into Thailand under its bridal specialist brand. This follows hot on the heels of SK Jewellery's expansion into China in the first half of 2018. (See: SOO KEE GROUP: Taps into PRC market through JV with leading jeweller)  Love & Co.’s store at CentralWorld, Bangkok. Photo: CompanyThe Bangkok store is located at CentralWorld, the largest lifestyle shopping destination in Bangkok of individuals with high purchasing power and discerning tastes. This allows SK Jewellery "to lay the foundation for stronger brand presence in Thailand, and also sets the stage for growth in the country’s wedding jewellery sector," said SK Jewellery. |
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Stock price |
12.8 c |
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52-week range |
11 – 17 c |
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PE (ttm) |
9 |
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Market cap |
S$72 m |
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Shares outstanding |
562.5 m |
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Dividend |
3.9% |
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1-year return |
1.6% |
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Source: Bloomberg |
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Physical gold has always been a popular asset in Asia, with it being used by Thai locals for purposes such as investments, ornaments and gifts for newborns and weddings.
Thailand, being Asia’s third largest gold market after India and the PRC, presents immense potential for SK Jewellery to capitalise upon.
With the diamond retail and wedding jewellery market in the country still relatively undeveloped, "there is opportunity for a strong contemporary jewellery brand such as Love and Co. to penetrate the market," said the company.
 “Our entry into Thailand’s wedding jewellery market is timely as the luxury goods market continues to rise, well-supported by increasing affluence and rising consumerism. "In addition, Thailand’s population of 68 million presents a huge and untapped market of growth opportunities, while serving as a valuable distribution channel. "We intend to open more Love & Co. retail points in key cities of Thailand, to bring forth our collection of bespoke jewellery and unique brand experience.” -- Daniel Lim (photo), CEO, SK Jewellery Group. |
Partnering the Group is Aurora Design, a leading retailer of gold ornament and fine jewellery in Thailand.
Aurora has extensive retail network and experience in Thailand, and is familiar with the local legal framework and has established relationships with developers and landlords of retail malls.
Aniwat Srirungthum, Chief Executive Officer of Aurora, said, "The collaboration not only represents new growth opportunities for both companies, it also allows us to expand our revenue base. We look forward to strengthen our market positioning in Thailand while meeting the demands of the evolving retail jewellery landscape.”
