King Power Thailand sales plunge 50 per cent
Thai duty-free retailer King Power is anticipating a drop in sales revenues of 50 per cent in the wake of the coronavirus pandemic.
The firm has attempted to drum up business while international travel is largely frozen via an online sales strategy, but it has not been able to offset the steep fall in business with online revenues contributing just 10 per cent of total business, far short of the hoped-for 20 per cent.
Just two King Power outlets out of 11 nationwide have reopened since the Covid-19 outbreak.
“Despite the huge sales drop, we don’t have any plans to lay off any of our 11,000 staff,” said King Power CEO Aiyawatt Srivaddhanaprabha. “Instead, we assigned them to sell King Power products via their own social-media accounts and via King Power online.”
Aiyawatt is a participant in the Thai government’s Thailand Smiles with You campaign, promoting the nation’s image and economic prospects during global recovery via the English Premier League team Leicester City FC, which Aiyawatt chairs.
“As Thais, we are proud to cooperate with the government in mitigating the adversity and supporting projects that will both directly and indirectly benefit our country’s economic and social wellbeing,” said Aiyawatt, “hoping that it will lead us through this crisis safe and sound”.
The campaign will see the phrase “Thailand Smiles With You” on Leicester City football team jerseys and sign boards throughout the 2020–21 season.