AURA sees glittering future for its Thong Ma Ngern Pai gold shops
Aurora Design Plc (AURA), one of Thailand’s leading gold and diamond jewellery retailers, is expanding its consignment business under its Thong Ma Ngern Pai (Gold Comes, Money Goes) brand of shops.
The move comes after it became the first gold jeweller to list on the Stock Exchange of Thailand (SET) last month. The decision to roll out more shops was driven by expanding demand in the consignment sector, AURA chief marketing officer Anipat Srirungthum explained on Thursday.
Thong Ma Ngern Pai brand is a retailer that also allows customers to temporarily exchange jewellery for cash to boost their liquidity.
Anipat said this business was previously only a supplement to its Aurora and Seng Heng gold shops but had now become a core focus.
The expansion is part of the company's rebranding from an antique traditional family jewellers to a modern trendy gold store for people of all ages.
Anipat said Thong Ma Ngern Pai differed from its competitors thanks to its high credit limit, no need for a guarantor, instant cash, low monthly interest rate of 1.25%, more than 200 standardised branches nationwide, and easy access via its own app.
"I dare to say that no other gold shop offers such a high credit limit with such a low interest rate," he said.
Asked why Aurora Design is so confident about making the consignment business its new flagship, Anipat highlighted the critical role digitisation.
"We are a data-driven organisation. Data helps us with accuracy of checking and tracking as well as ensuring security against errors and scams on a proper economy of scale. It also helps us understand our customers' pain points and the solutions we can offer them."
Aniwat explained that the Thong Ma Ngern Pai brand was created to help customers easily access financial sources at a legal interest rate and with greater convenience. After more than three years of testing, the service showed promising prospects.
Revenue is growing at least 45% per year and there are over 130,000 users of Thong Ma Ngern Pai services.
AURA plans to expand the current network of 266 stores to 409 by 2024, boosting revenue to 3.7 billion baht.
Aniwat said the brand will also collaborate with other businesses to improve user experience and engagement. The company has partnered with CJ MORE, Line BK, and Kasikorn Bank.
