"Pruksa" partners with "Wizlah" the leading solution provider for home decorations from Singapore, to invest in Zdecor under the new brand "Wizlah TH" and launch a new business venture in offering smart furniture brand from Sunray Group
Pruksa Holding Public Company Limited (PSH) reinforces its mission to drive its real estate platform for sustainable growth by partnering with "Wizlah Venture" from Singapore, one of the largest design companies committed to invest an estimated 46 million baht for 49% stake in "ZDecor" Company which will be renamed to "Wizlah TH". In addition, a new joint venture will be established with Sunray Group to serve smart furniture in 2Q24, with plans to launch the "Wizlah Super App" platform featuring a large collection of designs from architects, e-marketplace for interior designers, and landscape architects in Thailand.
Mr. Uten Lohachitpitaks, Group CEO of PSH, said "the company's mission to foster sustainable growth by innovating within the organization, opening opportunities for employees at all levels to develop innovative housing solutions. This initiative involves identifying and addressing real customer pain points (Customers Empathy) in every aspects of housing, resulting in products and solutions which target customer's needs and enhance their current lifestyles. The "Zdecor Team" began as a startup within the company, focusing on designing and selling furniture developed by in-house employees. They utilized efficient innovation processes, encompassing changes in mindset that encourages bold thinking, risk-taking, and experimentation (Fail Fast), adapt agile way of work approach, and apply design thinking, with a strong customer-centric focus. The initiative includes building an ecosystem for collaborative innovation with external partners. The ZDecor team started with just four members and has since grown to generate revenue of over 70 million Baht last year. They have a product catalog with over 4,000 SKU's and a network of more than 300 architects. This success led to the involvement of "Wizlah Venture" in Pruksa's plan to expand via collaborating with strong partners and attracting "Sunray Group," a leading design, construction, and interior decoration company in Singapore, to invest in "Wizlah TH". This expansion aims to promote lifestyle enhancement and well-being for all Thai people."
"Wizlah TH" will operate a business providing e-marketplace as one-stop service that cover all matters of interior decorations and has received distributorship right of smart furniture from Sunray in Thailand. Furthermore, Pruksa Holding, via "Synergy Growth" its digital and e-commerce business arm will also have the opportunity to invest more than 30% in "Wizlah Venture", the parent company of Wizlah Singapore, and directly invest more than 50% in 'Wizlah TH'. Together, we aim to develop a home decoration platform called "Wizlah Super App," serving as a central hub that connects architects and customers to become part of the home decoration ecosystem, offering furniture, home decor products, and various services through the platform. This platform was launched in Singapore at the beginning of 2023 and is set to be introduced in Southeast Asia. The launch date for Thailand through "Wizlah TH" will be in the second quarter of 2024. The Wizlah Group has set an ambitious target to achieve 1 billion Baht in revenue within three years.
Mr. Charles Tan, the CEO of Sunray, stated, "Sunray and Wizlah are the largest design experts in Singapore. We have been entrusted by the Singaporean government with responsibilities for building construction, interior decorations, and have completed numerous projects in the private sector, including large-scale projects like hotels, retail stores, commercial buildings, restaurants, department stores and hospitals. We have expanded our services throughout Asia and are confident that this collaboration will capitalize on the existing assets of both parties as well as further strengthen their position in the space. Both sides will gather customer's needs and requirements to develop features on the Wiz Super App to better serve customers."
Wizlah Super App will serve as a central hub featuring the largest collection of designs from architects, designers, interior designers, and landscape architects in Thailand. Customers can access information for home decoration, find design ideas or inspiration, and purchase various products, including smart furniture and home decor. This marks a significant transformation in the interior design and home decoration industry, bringing the ease of home decoration to your fingertips. Wizlah Super App is available for download today. Click https://linktr.ee/wizlah?utm_source=linktree_admin_share