How do you see the business potential for Bang & Olufsen products in Thailand, considering the current market situation and the competition, especially with Japanese and Korean brands, and consumption trends?

In my opinion, many Thai people are very artistic and have an eye for the ecstaticallyrefined, and at the same time Thais want to be at the forefront of technology and innovation.

Clearly there are many brands on the market, but none can truly offer the combination of all [features] as well as Bang & Olufsen can, which is why we are one of the oldest electronics consumer companies in the world, with 91 years [behind us].

Bang & Olufsen products encapsulate design, technology and innovation into one piece or more, creating a living and usable piece of art [for] your home, while ensuring that you get the best possible visual and/or audio performance possible, rather than putting focus on the general market.

By embodying a premium brand residing in the high-end market section, we are fortunate to be only partially affected by general consumer trends and statistics.

This position allowed us to realise steady growth since commencing last year, outperforming initial targets with 42 per cent.

We attribute this substantial increase to our numerous PR and marketing events during 2015.

Moreover, the increase in the volume of global partner activities also contributed to these outstanding growth figures.

What is the five-year business plan as authorised dealer and distributor of Bang & Olufsen products in Thailand? How many new stores will be set up over the next three to five years, what investment will be required for this expansion?

The first year of our company [2015] was all about getting established and reaching out to the existing client base, in order to offer them service and maintenance on their products, as well as building our flagship store in Gaysorn Shopping Centre in time to become the first concept store in Southeast Asia, as well as creating a marketing base value.

In 2016 we aim to open two further stores. The first B&O Play Store by Bang Olufsen, on the first floor of Crystal Veranda, The Crystal Ekamai-Ramintra, will officially open on 23rd April 2016 [today]. After this we are going to open another B&O Play Store, a shop-in shop at B2S, CentralFestival EastVille,which is the biggest B2S store in Thailand.

We will expand our PR value through events and print media, to inform and educate our clients and potential new clients.

The concept for 2016 is to give clients experience above and beyond utilising the concept “Enhancing your five senses”, namely sound, sight, scent, taste and touch. It will be conveyed through various activities and events that will be carried out throughout the year, aiming to comprehend [convey] the genuine qualities of the brand.

In 2017 and 2018 we aim to increase brand exposure by opening more stores outside Thailand, in countries such as Myanmar, Laos and Cambodia.

Obviously with this expansion we also need good and well-educated members added to our expanding team, on operational levels as well as managerial.

This is our biggest investment and requires a lot from the team, as they all need to go through our training systems that are monitored by Denmark,but at the same time motivating internally. In addition, we send or provide training at different levels and subjects, where we find the need. However, being in Thailand, we have been very lucky, as we have a great and very strong team.

The first five years will see a lot of investment into the company, but we also expect to set a solid footprint in our markets in doing so.

Do you have any plans to expand the Bang & Olufsen business beyond Thailand, especially into the CLMV market? If so, what will be the next potential market after Thailand?

We plan to expand into Laos, Burma and Cambodia, although our focus will be on Thailand, as part of our five-year plan.

What was the first-year revenue for the brand and how much is expected over the next five years?

Our first year saw total revenue of about Bt70 million. We expect that 2016 will show an increase by more than 10-15 per cent in revenues. |Our annual targets are expected |to improve year on year after this |by 20-15 per cent after the third |year, as we are likely to see a flatter revenue stream, as we reach out to more [customers] over the initial years.

What is your ultimate ambition for the Bang & Olufsen business in terms of achievement and success?

Our ultimate ambition with Bang & Olufsen is to provide and continue to provide high quality of design, technology and innovation, and [the best possible] service for our clients best possible. For us, selling is of course important, but more so is being able to provide great levels of service, which is why we also apply Bang & Olufsen international service standards, |and strive to improve these over time.

Every country is a little different, so the system needs a little |tweak.

HW Trading’s marketing strategy focuses on both existing and |new clients, with the main target group males in the age range of |30-65 years (which is 98 per cent |of the buyers). Marketing activities put emphasis on direct interaction with clients for full experience |with Bang & Olufsen’s products and services.

CRM [customer relationship management] was key in order to reflect on the fact that the brand is geared towards lifestyle as well as innovative technology.

Wine tasting complemented by sounds from Bang & Olufsen speakers is one of the many examples that HW Trading successfully held in partnership with premium brands such as Aston Martin, Mercedes-Benz, and high-end property developers.

Furthermore, a VVIP [very, very important person] trip was also gathered [organised] to invite exclusive clients to visit the origin of Bang & Olufsen in Denmark, to meet top management of the brand in order to create impressive experiences for our clients along with the charms of Denmark, including Danish culinary, culture and design.

We have profound expectations and presumptions concerning |the future of Bang & Olufsen |in Thailand.

Within three years, the |brand will have successfully |penetrated the premium audio |market, holding a prime position |in the minds of consumers. This position will help spread the tangible and intangible benefits of the brand, continuously spreading and raising brand awareness to maximise connotation levels.