Thai silk is known around the world for its exquisite beauty, distinct characteristics and finest quality. Increasing demands from the luxury market has paved a bright future for both already established businesses and for many upcoming brands.
Sakda Saengkanha, founder of Maligood, a company specialising in silk products talks about the brand and how it aims at the luxury market.
“Maligood was founded in 2016 following the success of my mother’s long-established business called ‘Wanpen Thai Silk’, he says. “Growing up in a family-owned silk business and having attended many international trade fairs with the Department of International Trade Promotion (DITP), I saw a lucrative opportunity for Thai silk products in foreign markets.
“After attending many courses offered by government agencies, I started my own brand, Maligood. The purpose was to offer premium, appealing products to attract younger and luxury buyers. The products are creative, modern and come in many categories, including women’s and men’s clothing, shoes, bags, scarves and accessories.”
The brand has gained international acceptance due to its features, outstanding quality and unique designs.
“We combine new technology and know-how with local wisdom and expertise to establish business standards and to help all the processes become more efficient,” he says.
Maligood first started exporting to Singapore and Japan, followed by Hong Kong, Australia and the US. Saengkanha believes that its varied price range and range of products are Maligood’s main strengths.
“As my mother has been running a silk business for a very long time, we now have different groups of customers and a variety of products of different quality and prices,” he says. “Maligood brand’s positioning is for luxury lifestyle products, while Wanpen Thai Silk products are more suitable for the mass market. This allows us to reach wider customer segments.”
According to Saengkanha, Maligood has continued to perform well despite the ongoing COVID pandemic, and its impact on consumer behaviour.
“We raise silkworms and produce our own raw silk, which makes it possible to control the cost of materials and production. It enables us to be flexible and adjust to customised orders,” he says. “Since the COVID-19 pandemic occurred, we have managed to sell our products to clients from Singapore even though the orders are small we are fortunate to keep the business running during this tough time.
“To cope with the changing consumer trends, we will be launching new collections but in less quantity, as we still want to offer a variety of products to buyers. We will focus more on functionality, while keeping the price reasonable,” he says. “We will also focus on online business and marketing.”
Although Maligood has won Best Design and Best One Tambon One Product (OTOP) awards, Saengkanha, says the brand is always on the lookout for new opportunities and trends to create new products.
“In the near future we will collaborate with Korean designers, which will make the products more versatile,” he says. “It will be a good opportunity for us to enter the Korean market.”
For more information, visit www.maligood.co
Words by Manisa Phromsiripranee
Photo courtesy of Maligood