Asia Books starts opening news stores again

       Asia Books has started opening new stores again after the poor economy forced delays from the end of last year.
       The company intends to have 100 bookstores five years from now, up from 67 today.
       Managing director Phumate Manuphibul said the 67 included two new stores recently opened: an Asia Books in Central Lat Phrao and a Bookazine in the Chiang Mai Airport.
       "We'll spend Bt50 million to open five new bookstores next year under the Asia Books and Bookazine brands," he said.
       Phumate said the company operated three brands: Asia Books (28 branches), Bookazine (37) and Book Outlet (2).
       Asia Books serve mostly Thai readers, Bookazine targets foreigners, and Book Outlet has been developed to carry old books that have been on the shelves for more than three years.
       "Since the economic slump began late last year, the number of Thai and foreign customers have dropped 20 per cent and 30 per cent, respectively," said Phumate.
       He said company sales dropped 5 per cent year on year in the first half. The huge decline in foreign tourists has heavily affected sales performances. Forty per cent of the company's clients are foreigners and 60 per cent Thai.
       "But we're seeing positive signs of economic recovery, fostered by a more stable political situation, the government's policy of promoting foreign-tourist arrivals and an injection of cash into the economy," said Phumate. "Now is a good time to invest again."
       Phumate said if the government could attract 14 million foreign tourists like it promised, company sales would be flat this year; otherwise, they would be down 10 per cent.
       He said the company would open two or three more bookstores this year.
       "We're looking at potential locations in the Northeast, including Udon Thani, Khon Kaen and Nakhon Ratchasima, because there are a lot of foreigners in those areas. They're also located along the route tourists take to Laos," said Phumate.
       Asia Books has also announced it will celebrate its 40th anniversary in Thailand with a Bt20-million campaign called "Asia Books on Chapter 40".
       The company expects sales of more than Bt1 billion this year.