With an initial investment cost of Bt2 million, Toybies currently has a shop in The Walk Ratchaphruek and a showroom/office on Phahonyothin 33 in Bangkok, while also distributing its products through bookstore chains, including B2S and SE-ED Book Centre.
After studying demand in Vietnam, the Thai company is convinced of the strong potential for Toybies to expand into the neighbouring market,said managing director Settapong Jintanaphan.
“To open a shop in Vietnam will serve as a centre for us to reach customers directly, as well as through online trading [which it does currently], as it should increase confidence among those using the shop, which will be a showroom where we can take care of our customers,” he said.
The Toybies store in Vietnam will be opened in conjunction with a stationery outlet, with the company having earmarked Bt800,000 to Bt1 million for setting up and launching the operation.
Settapong added that the company had already engaged three local employees in Ho Chi Minh to prepare information on market trends and oversee construction of the outlet, which is expected to open early next year.
He said that with a growing population, especially among the young, and higher spending power, Vietnamese parents would be the company’s main target group.
In terms of overseas sales, |Toybies has until now traded its products online, with many of |its customers being from Vietnam and other Asean countries, he| said.
Besides Vietnam, the company is interested in expanding its business to Indonesia, Singapore and Myanmar, with such an expansion drive leaving it confident that sales can be doubled each year, he said.
Since establishing the business three years ago, the company’s sales have grown strongly and domestic revenue has doubled every year, he added.
The company plans to make Toybies a well-known educational-toy brand in Thailand, Asean and more widely in Asia within the |next three to five years, Settapong said.
Its products have also been shipped to Hong Kong, while sales through online shopping are made via the company’s website on Facebook, Twitter as well as Instagram.
With experience in kindergarten business through his wife’s family, Settapong established Toybies to produce educational toys in response to young children’s needs, and as teaching materials.
The company has eight researchers to create educational toys for six-month-old babies through to six-year-old children.
Its products range from toys for use at home to items and materials suitable for kids learning at kindergarten level.
Products under the Toybies brand include 3D Wall Stickers, Jumbo Jigsaws, learning Flash Cards, 3D Mosaic Art and skill toys.