Starmark eyes 10% growth

       Starmark Co, a manufacturer of kitchen fittings, is maintaining its 10% sales growth target this year on the back of improving sentiment among both project developers and retail clients, said managing director Nantana Srisakulpinyo.
       Fourth-quarter sales in the local furniture market are set to improve with a better economic outlook coupled with the approaching high season for furniture purchases, said Ms Nantana.
       "Project clients have regained their confidence in investment and next year we expect the number of residential projects we're going to deal with will increase by 15% from this year," she said.
       Project clients account for about 60%of sales and retail buyers 40%. But Starmark plans to boost the contribution of retail clients to 45% of sales next year as the segment has ample room to grow and also provides a better sales margin.
       Spending per individual on Starmark kitchen fittings is estimated at about 150,000 to 200,000 baht.
       Currently, Starmark has 45 retail outlets nationwide. It plans to add three next year, including one at Crystal Design Center.
       The kitchen furniture market in Thailand has been growing at about 10% to 15% each year for the past three to five years as many international brands have continued to enter the market, said Ms Nantana.
       Local furniture manufacturers are also investing more in the kitchen furniture segment as consumers are paying increasing attention to kitchen design and decoration, she added.
       The company yesterday launched the "New Hygienic Thai Kitchen 2010" kitchen fittings series to tap demand for Thai-style cooking.