FROM ELECTRICS TO FABRICS: THE NARAYA STORY

A fabric bag and accessory trendsetter brand from Thailand, Naraya has taken the world by storm as a reasonably-priced bag store which sells one of the prettiest bags I’ve ever seen.

But, how did Naraya rise to become such a famous company? Narai Intertrade Co., Ltd. was originally founded in 1989 by Vassilios and Wasna Lathouras.

Khun Wasna was born to a large Chinese family which owned a grocery store in Bangkok. Vassilios, a Greek businessman, came to Thailand to try his fortune in Asia. While visiting the Ancient City in Samut Prakan, he met Khun Wasna, who was then a tour guide.

NaRaYa’s name originates from the Hindu god Phra Narai, who is more commonly known as Vishnu – the supreme god of Hinduism. The name was chosen for its auspicious meaning as well as for the simplicity of pronunciation across speakers of many different languages.

Because of Vassilios’ background, the company originally started trade in automotive spare parts and electrical equipment, but soon diversified into fabric bags and accessories, for which it has now become famous.

NaRaYa started with less than 20 sewing machines and sold products out of a 2 square meter booth in the basement of Narayana Phand Bazaar. Today, NaRaYa primarily operates out of a 500 million Baht (approximately $15.1 million USD) facility utilizing over 1500 employees and a total workforce of over 4000 people producing fabric bags and other fabric based goods.

A lesson learnt from this company is the fact that they are resilient, despite of their small shop space and logistics. Aspiring entrepreneurs should indeed learn from them!

Unfortunately, Naraya has not opened a franchise in Singapore yet. If you ever get to travel to Thailand one day, do keep a lookout for Naraya, make a purchase and think about their journey from an unpopular electrics company to a widely-known fabrics company.

Written by Eunice Yeo, 3 Respect