Former bureaucrat looks to invest in retail business

Somchainuk Engtrakul, a former permanent secretary to the Finance Ministry, is planning more investments in the retail business, along with a Korean-style beauty treatment centre for Thai teenagers.
Sineenart Engtrakul and her father Somchainuk see more potential to offer the BBbrand to young women.Ms Sineenart said the market response to their BBClinic in Soi Thong Lo after its first year was better than expected. The company earned about60million baht with 15 million in profit. WISIT THAMNGERN
"I think community malls represent a very high-potential retail format to develop now," he said.
The retail project costing 60-80 million baht will take shape on a 10-rai plot on the superhighway between Lamphun Industrial Estate and Chiang Mai.
Mr Somchainuk is also an adviser to BB Beauty and Beyond Co, the operator of BB Clinic, which will be a tenant at the mall.
"We have a serious intention to expand our beauty business. There is a huge potential for the beauty business, particularly for Korean-style surgery. Thais are no longer shy about surgery to give them Korean-style beauty," he said.
Sineenart Engtrakul, Mr Somchainuk's daughter and the CEO of BB Beauty and Beyond, said the market response to BB Clinic in Soi Thong Lo after its first year was better than expected. The company earned about 60 million baht with 15 million in profit.
"The economic downturn last year did not affect the 11-billion-baht surgery business. Overall demand grew by 17-18% in 2010 while the segment for young customers aged between 18 and 25 years old did better with 100% growth," she said.
This prompted the company to launch a new brand, BB You by BB Clinic for teen customers in Soi Vacharapol, off Rarm Intra Road. If the new brand is successful, one more outlet will be opened in Bangkok this year. Mr Somchainuk expects total sales of 90 million baht this year from his beauty treatment business.

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