JASPAL MODEL expands more lines, adds new brands

Marketing – “Jaspal” paves the way for the fashion market Going through the heat and cold for 50 years, launching an offensive strategy in Jaspal style, the model “Break more lines – Add new brands – Expand abroad” Fireworks, grabbing FIFA’s Official Licensed Products, accelerating to build a strong penetration in the world market.

Jaspal Group is considered a group that has been doing business in Thailand for more than 75 years from the origin of. “Jaspal Singh” started a business in Thailand in Phahurat area, Bangkok by importing high quality linen and bedding products to sell in Thailand.
After that, in 1972, the first JASPAL brand fashion store was established at Siam Center. Until now, it has grown into many brands. And entering the 50th year in the fashion retail business

At present, it can be said that Jaspal has entered into the 3rd generation heir to fully manage. There are two main spearhead executives, namely Mr. Wiset Singhsachathet, Chief Executive Officer of Business Group 1 and Mr. Yosthep Singhsachathet, Chief Executive Officer of Business Group 3, overseeing the business with many other 3rd generation heirs.

Why did the Jaspal Clan grow and last so long?

Jaspal Group adheres to investment principles, must be prudent, confident, ready and adaptable.

“Jaspal wants to be a group that does business in fashion, food, lifestyle retail. with business bases both in Thailand and abroad, ”said Wiset Singhsachathet, Chief Business Officer of Business Group 1, Jaspal Co., Ltd.
Moving forward, therefore, comes with a business strategy in the style of Jaspal himself (JASPAL MODEL).
Jaspal sets up a clear business-driven model. The main strategy is 1. Line split in the same brand. 2. Adding new brands 3.Expansion abroad

*** Add more lines
Strategies to break the line from the original brand. It seems easy but it’s not easy. Because before Jaspal can do that, it takes time to study, market, brand suitability. and readiness in many aspects

Starting with the brand LYN (Lyn), which has been launched since 2001, was originally a fashion brand for bags, shoes and accessories for women who are passionate about dressing up. The image of a modern woman is interested in and following fashion trends. Reflecting on the identity of chic, luxurious, confident, the design covers the use of all occasions, price ranges from 1,900 – 3,200 baht.

In 2011, the line has been split into Lyn around (Lyn Around), a brand of clothes, shoes, bags and accessories. Presenting feminine style and unique prints. Responding to the identity of a woman with outstanding character and high self-esteem The design that combines art and contemporary with the lines of clothes fulfills the imagination of the dreamy woman. Currently expandable to 37 branches

Both brands have different target audiences. And the personalities of the costumes are different.
11 years later in the year 2022 or this year. Then the line was further diversified into LYN BEAUTY (Lyn Beauty), a cosmetic brand that offers Asian beauty that is suitable for all genders, ages, and skin colors to create unlimited beauty. Meet the needs of all applications that cover all needs. stand out with a beautiful package It’s an accessible luxury. with features not tested on animals no animal ingredients In just one year, there are already 31 branches.

“Those three brands There is no competition for customers or duplication in terms of target groups in any way. There will only be good support and support,” Mr. Yosthep Singsachathet, Chief Business Officer of Group 3, Yaspal Co., Ltd. confirmed.

Another brand following this game is CPS CHAPS (CPS CHAPS), born in 1980 as a trend-setting fashion brand. Under the concept of “CREATIVITY. PASSION. SELF.” and inspiration for designing clothes to look outstanding and unique Meet the needs of young people in the new era who want to create cool and modern looks in different styles. Able to fulfill confidence in every lifestyle. Currently, there are 40 branches.

In 2018, Jaspal split this brand into CPS COFFEE (CPS Coffee), a Coffee & Lifestyle Bar-style cafe creating premium-quality drinks and bakery menus. that comes in the concept of “COFFEE. PASSION. SPECIALTY.” meets the needs of cafe hoppers. which is an extension of the fashion retail business under the CPS CHAPS brand into the café business that tends to grow continuously in Thailand, with 4 branches already at this time It is expected that next year there will be another 2-3 branches.
CPS COFFEE is considered to be on the right track. with the coffee market growing very well in Thailand

However, there are currently studies that Which existing brands have the potential and suitability to diversify the line?

“By dividing the line from the original brand, it requires a small amount of capital. You don’t have to waste time building a new brand because it’s a brand that people already know. We only offer a wide variety of different products. It also expands the customer base,” said Mr. Yotthep.

*** Add new brand

But adding new brands to the portfolio has not been overlooked

Currently, Jaspal Group has a total of 16 brands in the market, divided into 11 self-developed brands, consisting of JASPAL, CPS CHAPS, LYN, CC DOUBLE O, Lyn around, Jelly Bunny, Misty Mynx, ROYAL IVY REGATTA, QUINN, CPS COFFEE and LYN Beauty

As for the brands that are the only importers and distributors in Thailand, there are 5 brands: FRED PERRY, Melissa, Shoebar, ASICS and DIESEL. Jaspal looks at this group as a strategy, but it depends on the opportunity, timing and the right brand. Does not specify how many brands must be added each year But it just came in the last few years. From the original that used to be imported, but stopped for a while

The clothing or fashion market is a market that Jaspal executives confirm that “the market must grow slowly, some fast. There is no certain death date, ”said Wiset.

According to data from https://www.statista.com/outlook/cmo/apparel/worldwide, the global apparel market in 2022 is worth US$ 1.53 trillion. The market is expected to grow annually at 5.48%. The largest part of the market is Women’s clothing is valued at US$0.79 billion and 95% of sales in the clothing market come from the non-luxury segment.

While the clothing market in Thailand, in 2022 in Thailand, the total clothing market revenue is worth 5.94 billion US dollars. It is expected that the market will grow 4.96% per year, with more than 79% of sales in the clothing market coming from the non-luxury group.

As for foreign markets such as Vietnam, which is also one of Jaspal’s main markets, the apparel market in Vietnam in 2022 was worth US$ 5.91 billion. which is slightly less than Thailand But the market is expected to grow 5.54% per year, which has a higher growth trend. The largest segment of the market is Women’s clothing is worth US$ 2.95 billion, over 97% of the sales in the clothing market come from non-luxury segments. Women’s clothing is valued at 3.07 billion US dollars.

***Expand foreign markets
In the past, there are brands of Jaspal that have opened stores in foreign countries, including 3 countries: Vietnam with 31 branches, Malaysia with 12 branches, and Cambodia with 24 branches such as the LYN brand, the Jelly Bunny brand, Lyn around, FRED PERRY, etc.

Vietnam is one of the main target markets in Asia where the Jaspal group has already established a foothold.

Factors that make the Vietnamese market grow from Demand for consumer goods is growing, Vietnamese people’s purchasing power is increasing, urbanization is increasing, Vietnam is a big market with a population of more than 95 million people, ASEAN Free Trade Area As a result, Thailand can export goods to Vietnam without import duty.

While the consumption behavior of the Vietnamese people Vietnamese people see that Thai products are of high quality at reasonable prices, and Vietnamese like to try new products.

As for potential consumer groups for Thai products middle and high income consumers It is the largest group with demand for fast-selling and frequently used consumer goods. including foreign products Each year, more than 2 million Vietnamese are moving into middle-income families. The majority of high-income consumers are attracted to luxury brands with guaranteed quality.

Recently, JASPAL has acquired the Official Licensed Products as the only fashion brand in Thailand. In collaboration with FIFA with officially licensed products “FIFA WORLD CUP QATAR 2022” with the goal of expanding the customer base among football fans Including those who like the moment of the sporting event with in-store activities To create colors to attract customers to join in the fun at JASPAL MAN stores nationwide.

Mr Wiset said that this is an important step in using the sport marketing strategy to expand the brand’s customer base. Originally focusing on customers with a fashion lifestyle. to those who love football and those who enjoy participating in the World Cup as well. and is truly a trendsetter in global fashion.

For this officially licensed FIFA WORLD CUP QATAR 2022 product, JASPAL has designed by bringing various details to interpret through patterns and prints. Designed for football fans who love fashion. You can choose to wear it in Everyday Look, including 63 items, divided into 3 styles: 1. “Main Collection” Sports Casual style items that can be worn every day, emphasizing the use of white. Black, crimson red, and bringing various elements to design a grid pattern. Add a cool look to every day, pick it up and wear it with confidence. And it’s not just clothes. But there are also other collections to collect such as mugs, hats, scarves, tote bags, etc.
2. “JASPAL Selected” T-shirts selected from 9 popular countries such as Portugal, Brazil, Germany, England, Japan, Argentina, Spain, the Netherlands and France to be redesigned with gradient techniques to create a playful dimension. to a T-shirt
3. “Mystery Box” Have fun with a random T-shirt box. From football fans’ jerseys from over 24 countries that give you a chance to cheer for your favorite team. also join in the chance to win with a random box to see which team’s shirt to win

That’s not enough because when Jaspal wants to grow up to the level of ten thousand million baht There must be continuous proactive expansion.
Jaspal himself is constantly looking for opportunities. including the development of new brands Including looking at foreign licenses. and expansion of new sales channels

“This year and next year (2023) will be the year that we increase the investment proportion a lot. It is expected that next year will open at least 30 branches of all brands combined. Because we are confident that we have the potential to be ready to penetrate the business. On the supply side, we are ready. As for foreign tourists, they know the brand of Jaspaldi Group As for the international market, there will be more branches and more brands in the beginning. and will look for more new countries which we still mainly focus on the Asian market first By placing an investment budget for next year at 500 million baht

Next year is expected to see at least one new Jaspal brand entering the international market and expanding new branches.

For brands that are already in international markets We aim to increase the total number of stores to 80 next year from the current 67 overseas.

in Thailand as well More brands will be launched that expand the line.
At the same time, the way to add new brands Either obtaining a license, having a business, or even cooperating up to the level of M & A. We do not block if there is a good opportunity and it is appropriate.

The expansion of new channels will be seen more, for example, the Chubar brand will begin to expand its branches into hypermarkets.

Today, 90% of Jaspal’s main income comes from Thailand and 10% from abroad, but it aims to increase its foreign share even more. from an increased income base But Jaspal still mainly focuses on expanding both offline branches. The online part has just begun to be taken seriously during the COVID pandemic. By focusing on doing it yourself in the brand dot com or chat and shop. Which during the past COVID, online has grown to 100% because the base is still low Currently, the proportion of online sales is about 5% with about 300,000 active members.
Jaspal is considered to be the leader in the fashion market in Thailand. With sales of nearly ten thousand million baht, in 2022, the total revenue target is set at 8,000 million baht from the domestic market this year.

From now on, one must keep an eye on Jaspal’s strategy to see how much it can follow the goal.






The article is in Thai

Tags: JASPAL MODEL expands lines adds brands

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