KUALA LUMPUR: PRG Holdings Bhd, through its 54.19%-owned subsidiary Furniweb Holdings Ltd, has opened a Philipp Plein outlet in Bangkok, marking its first venture into Thailand’s fashion apparel industry and the second such outlet in South-East Asia.
In a statement, PRG said the luxury fashion outlet was opened last Wednesday at the prestigious department store IconSiam Mall.
It followed the opening of a Philipp Plein flagship store in Singapore earlier this year.
Furniweb, which is listed on the Growth Enterprise Market board of the Hong Kong Stock Exchange, secured the distribution and retail rights in Thailand, Singapore and Malaysia from the Switzerland-based Philipp Plein group last year.
PRG said it is enthusiastic to capture new business opportunities in the fashion apparel business and believes the association with a famous global apparel brand would bring new elements and dimension to the group’s profile.
“The business venture will also potentially broaden the customer base for the company’s existing core businesses and provide opportunities for growth, ” it said.
PRG, a Bursa Malaysia Main Market-listed investment holding company, is mainly involved in the manufacturing, property development, construction, fashion apparel and healthcare businesses. — Bernama