Thai mobile handset distributor Jay Mart plans to spend THB50 million (US$1.4 million) opening up to 10 Jaycamera shops by the end of this year.
The outlets are forecast to initially draw in revenue of THB800 million, and within three years the company hopes to claim 40 per cent of the camera market for the lead position in Thailand, with revenue of THB4 billion.
Chief marketing officer Narathip Wirunechatapant says growth potential in the Thai camera market prompted the company to set up the chain, providing mid- to high-range models and accessories. It will focus mainly on mirrorless and digital single-lens reflex (DSLR) cameras in the THB20,000 to THB200,000 range with young people as the target market.
The main brands are Canon, Casio, FujiFilm, GoPro, Nikon, Olympus and Sony. In May, the chain will start selling upmarket smartphones such as the Huawei P10.
Jaycamera launched in the Fashion Island department store, with other outlets to follow in Central and The Mall department stores in and around Bangkok.
Narathip says that by the end of this year the Thai camera market could reach about THB8 billion and the company hopes to gain about 10 per cent of that.
By the end of 2019, the company says it will have about 50 Jaycamera shops nationwide, and will also sell camera products at more than 200 Jaymart shops.