OP GARDEN TARGETS THAI CUSTOM

       OP Place shopping centre operator Bhandhamitri, a subsidiary of TCC Group, has opened a sister shopping centre, OP Garden.
       The new centre was built at a cost of Bt300 milliion with the goal of expanding the firm's customer base to welcome more Thai shoppers.
       Titapar Tepakhun, managing director of Bhandhamitri, said the company decided to open the new shopping centre after experiencing a more than 50-per-cent drop in foreign customer traffic in the wake of the political turmoil of the past two years, with last year's blockade of Suvarnabhumi Airport doing particular damage.
       "OP Place has always relied heavily on foreign shoppers, whose numbers are ,pre semsotive to political troubles.This is a major reason we decided to open a new shopping mall - as a way to reduce such risks," Titapar said.
       Despite the emergence of signs that the economy is recovering, the number of the centre's foreign customers has seen only a modest rebound, she said.
       The company is confident that customer levels will be fully restored by the fourth quarter, which is high tourist season, however.
       Despite the drop in traffic, shopowners at OP Place have staved on due to the strength of the OP brand, Titapar said. "Our owners recognise the value of the OP brand, which accompanies only exclusivge products. They want to move to OP Garden, but we want to create a distinct segment [at OP Garden] in terms of products and target customers. For that reason, the brands at OP Garden are unlike those at OP Place. The product grade at OP Garden is premium, but the prices are lower than those at OP Place."
       OP Place's clientele generally comprises foreigners and consumers with extraordinarily high purchasing power, Titapar said, while the main target group at OP Garden is Thais. Half of the shop-owners at OP Garden will be Thais, while OP Place has only 30 Thai vendors.
       Most shop-owners at OP Garden sell the bulk of their products through the International Gift Fair & Bangkok International Houseware Fair (BIG&BIH). Their premium products are attractive but have few selling venues, she said.
       Bhandhamitri also plans for OP Garden to host events to generate revenue. Such activities cannot be held at OP Place, where shop-owners and customers prefer privacy.
       OP Garden opened for business two months ago, but the grand opening will take place in November. The mall is located on Charoenkrung Road, near its sibling. OP Garden will have a more contemporary look than OP Place, which features an "Asian heritage" style.
       Titapar said the high land price was the main reason for OP Garden's hefty cost. The Bt300-million investment covers the cost of the land, renovation of existing structures and the installation of facilities.
       The substantial investment led the company to set the mall's rental fee at Bt1,500 per square metre per month, compared to Bt1,000 at OP Place. OP Garden is 75 per cent occupied and is expected to be full by April, Titapar said.