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Byline: Sukanya Jitpleecheep
Jul. 26--After more than a century on the local scene, Singer (Thailand) Co, best known for selling sewing machines, is changing the way it does business.
The local unit of the US home electrical appliance company is expanding its successful "door-knocking" approach with a new retailing concept that offers a wider range of brands in addition to its own products.
It has even begun to sell Suzuki and Yamaha motorcycles in a bid to capture the youth market and increase sales.
The new approach was a response to a sharp drop in its sales following the 1997 economic crash, to four billion baht a year from 10 billion in the pre-crisis period.
"With our 112-year history in Thailand, it creates both opportunities and problems. Our consumers feel that our products are for the older generation. It is the right time to change the market image," said Yongyut Boonpektrakul, who was recently appointed general manager of Singer (Thailand), becoming the first Thai taking this post.
Although its sales from 1998 to 2000 were steady at 3.9 billion to four billion baht a year with profits doubling, the company does not want to lose its market share to competitors.