Thai homewares giant Index Living Mall has signed a Philippines partner as its Asian expansion continues.

Index will team up with the Philippines largest retail and mall operator SM Group to run the franchise for the concept for at least five years.

Index managing director Kridchanok Patamasatayasonthi told the Bangkok Post newspaper Index chose the Philippines due to its huge market potential.

“There’s no furniture or furnishings chain like us in the country, just small local and imported furniture stores.”

Index opened its first store in Vietnam about three years ago and its first in Malaysia last month, in the capital city of Putrajaya. It plans 30 stores across Malaysia over a 15-20 year timeline.

The company is also eyeing opportunities in Indonesia and hopes to double its foreign sales within five years. It will soon have 25 stores in its home market.