The company is making its entrance at the Central Watch Fair held in Bangkok this September and early October.
The watchmaker’s distributor Royalty Stone is to spend ten of thousands of euro establishing the brand at the month long exhibition before selling the brand in boutique shops. Stone’s managing director Eyal Fineman said the company realised the potential for the brand after carrying out a year-long research programme.
“Although the country has faced political uncertainty and the global economic crisis, I still see many people shopping and department stores full of shoppers,” he is reported to have said.
Thailand is the third Asian country Elini has moved into having successfully established itself in Japan and South Korea. The Elini brand is already on sale in the US and Europe.
“We selected Thailand as we have a jewellery factory for exports here. Once Elini watches are well-known in the Thai market, we plan to open a stand-alone shop in a luxury department store, which will offer both jewellery and watch products,” said Fineman.
He expects to sales of 50 million baht (€1.25m) in 2011 and €1.75m the year after that.
“We have been given full support to approach Thai superstars such as sport stars to wear our watches. This is the marketing direction that we use in the US and Europe markets,” added Fineman.
Elini Barokas was founded in 1989 in Antwerp by husband and wife team Nili and Nisso Barokas and was named after their newborn daughter, Eline. They were the latest members of the Barokas family to enter the jewellery trade, which has three generations of experience . Watches can cost up to €25,000.