Thai ice-cream brand for sale: Here’s the scoop
The founder of the Thai ice‑cream brand Hawell’s is putting the business up for sale for 165 million baht, saying he is sticking to a long-held goal to enter the monkhood and renounce worldly life.
Siripong Akkarasriyuk, the founder of the Thai ice-cream brand Hawell’s, is putting the business up for sale for 165 million baht. The 65-million-baht asking price includes an expansion plan aimed at reaching nearly 9 billion baht in annual sales. Siripong, who founded Hawell’s in 1999, plans to renounce worldly life in two years and enter the monkhood.
He has developed a new expansion strategy, but found that franchising and opening standalone stores would be costly and potentially damaging to the brand. Hawell’s experienced a decline in the early 2000s due to various factors, and only one standalone branch remains. Siripong attempted to negotiate with malls for new branches but faced repeated rejections.
He concluded that franchising could cause irreparable damage to the brand. The assets to be handed over to the successor include land, an office building, a factory, a Hawell’s Ice Cream & Fast Food shop, and the Hawell’s trademark. The total value of the assets is 165 million baht.
Written by urgent.news from Bangkok Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Thai ice-cream brand for sale: Here’s the scoop bangkokpost.com
