FN Outlet prepares for filing with SET while preparing to enter the Stock Exchange of Thailand. Mr. Somsak Sirichainarumitr, Chief Executive Officer of Asset Pro Management (APM) stated, “FN Factory Outlet (FN) runs business as a provider of products in the form of an Outlet that is well-established in Thailand for over 15 years. The products sold are named as house brands but with large mixes of other brands as well as International brands. In which the products are targeted at Thai tourists and foreigners. The items sold at FN are apparels, bedding, leather goods, furniture and household products. Present days, FN Outlet has 7 branches throughout Thailand. During 2015 FN gained 1,121.19 Million Baht in revenue and Net Profit of 146.43 Million Baht. FN Factory Outlet turnovers are healthy enough to file for trading in the SET and also to evolve into a Public Company.”

Mr. Pricha Songwatana, Vice Chairman of the Board of Directors of FN Factory Outlet Company Limited (FN) explained about FN, “The company is a designer, manufacturer of apparels, bedding, leather goods, furniture and household items that is well acknowledged for over 15 years. Our distribution channel is strategically placed throughout the country for Thai tourists and foreigners to experience our products with export quality direct from the manufacturer. Over the years that we are established, we have focus on developing products that are significant, unique with quality and varieties to answer the needs of customers.”

He added, “FN Factory Outlet was established during the 1997 Economic Crisis with origins to solve the crisis of the business that is formed by the family under the brand “Fly Now”. It was thought as a strategy to manage supplies as there have been lower demands from the customers. The tactic was to renovate the factory area at Phetchaburi province into a product distribution channel on for on sale at a price without transportation and marketing costs. That became the start of FN Factory Outlet, Thailand’s first Outlet store under the idea ‘export quality, manufacturer’s price.” Currently, there are 7 branches altogether, which includes Phetchaburi, Kanchanaburi, Pattaya, Pak Chong, Singburi, Hua Hin and Sriracha.”

“The key driver that I had thought of in order to solve the crisis of our business during the Economic Crisis in 1997 was greatly accepted. The evolution into a Public Company will be another important step that would assist the company into attaining international standards and also to be significantly established in the worldwide markets. This step also includes the handing over of the business to the next generation” Mr. Pricha concluded.

Mr. Benyiam Songwatana, CEO & Director of FN Factory Outlet Company Limited further stated, “to prepare for filing, each process would be the responsibility of our Financial Advisors. Our goal is to become a trading company within the SET. Doing so would improve the images of the company as well as to raise the standards into international levels that is also to gain a wider acceptance from the customers in the market or else the acceptance from our business partners. It’s also to help develop and increase the efficiency of the company in order to generate sustainability.”

The products that are sold are mostly named as house brands such as “In-Co, In-Co Women, Cheval, Lady De’ Cheval, Cheval Kids, Sleep Mate, Nipon, Prim, Cushy, Cushy Luxury, Cherish, Cherish Kids, Rollica, ETC and Tonkla. Non-Apparel products also include Household items, and apparels are also from mixes of other International brands.

“FN and our FA have worked together tirelessly and we have progressed greatly in preparing for filing and entering the SET. Apart from our goals to enter the SET, in order to find investors and expand our business, it’s also to unavoidably advance our standards to be widely accepted and trusted, that would also resulted in the transparency of the organization. It would in the end increase our chance of expanding as we are a trusted company trading in the Stock Exchange of Thailand” said Mr. Benyiam.