Swedish sportswear brand Craft has entered the Thai market and opened its first flagship store in Bangkok.
Kwanpong Chuenrudeemol, managing director of Playground 360 Co, an importer and retailer of sports and lifestyle products in Thailand, said Craft Sportswear Thailand Co was recently established with registered capital of 72 million baht, to become the authorised distributor of Craft in Thailand. The firm received a 10-year contract to market Craft here.
The flagship store spans 152 square metres on the first floor of Siam Discovery mall, and opened on April 16.
The Nordic-style store offers a full range of products for running, trail, hybrid, training and cycling. This is different from other Craft sales areas, which are usually dedicated to only one type of product.
Prices for running shoes range from 5,000-9,990 baht.
According to Mr Kwanpong, Craft was established in 1977 and is currently available in over 60 countries, including 10 Asian countries such as China, South Korea, Japan, Australia, Singapore, and Malaysia.
"We've chosen Thailand as the world's first country to open our flagship store because Thailand is a sophisticated market and many people participate in sports activities," said David Thomson, chief executive of Aspire Brands, which owns the right to distribute Craft products in Asia, Africa and the Middle East.
Craft expanded the business to Asia a couple of years ago. In Thailand, Craft has already made its mark by selling some running shoe models through the SuperSports and Rev Runnr retail chains for a year.
Mr Kwanpong said the market for sportswear and running shoes in Thailand is attractive, with significant room for expansion thanks to a large number of runners compared to many other countries in Southeast Asia.
"Running has become even more popular than before Covid-19 as the number of runners increases each day while the average age drops. These factors contribute to Thailand's largest running market in Asean," he said, adding that various sports brands, including Craft, see this opportunity and want to inspire runners in Thailand to reach the top and become their own heroes while growing up with the brand.
Additionally, Thailand has national sports that are easily accessible to everyone, such as boxing, sepak takraw, football, and especially running, he said.
The firm is set to spend around 120 million baht over three years to raise brand awareness through marketing activities online and onsite.
Apart from the flagship store, Craft products are also available at sporting goods retail chains, bike speciality stores, and through online ordering channels. The Thai sporting goods market is estimated at 90 billion baht in 2023, with a growth rate of 5% from a year before. Of the total, 15.7 billion baht is for sneakers and athletic footwear, while the remaining 67 billion comes from other products such as leather shoes.
Craft expects its sales to reach 200 million baht this year and is aiming for a 30% increase in 2024 and 2025.
