MASTER ENTREPRENEUR CATEGORY
JAMES RICHARD AMATAVIVADHANA
CEOMC GROUP PUBLIC COMPANY LIMITED
Retail
www.mcshop.com
Information about the Entrepreneur
Mr. James Richard Amatavivadhana is known as a highly successful business leader. Armed with both a Bachelor's and Master's Degrees in Economics from Syracuse University in the USA, he embarked on his professional journey with the World Bank in Washington, DC. He then transitioned to Procter & Gamble, a renowned multinational company, where he spent seven years contributing to its marketing strategies. His dedication to his craft led him to roles of increasing responsibility, including serving as the General Manager of Coca-Cola Philippines as the Area Managing Director of Johnson&Johnson for the North Asia Region, and CEO of Minor Lifestyle.Other Interesting Facts about the Entrepreneur
Mr. James Richard has achieved significant personal success in his career, having worked for various organizations in different countries. His motto in life is to work hard and never give up on his dreams. He believes that success comes from hard work, determination, and a willingness to take risks. His success formula is to focus on the big picture, set clear goals, and work towards achieving them with passion and dedication.Cultivating Leadership, Fostering Excellence
Company Achievements and
Role of the Entrepreneur
One of Mr. James Richard's most significant achievements is his current role as the CEO of MC Group Public Company Limited (MC Group), a leading lifestyle apparel retailer in Thailand. His tenure began in June 2021, at a time when MC Group faced daunting challenges both internally and externally. The company grappled with declining sales, eroding margins, organizational capability constraints, rising business costs, and the termination of tax benefits. The external impact of the Covid-19 pandemic further exacerbated the situation, posing a monumental test for his leadership skills.
Mr. James Richard's leadership during these hard times showcased his ability to navigate adversity and steer MC Group toward success. In his first year as the CEO, he faced the unprecedented challenge of the Covid-19 pandemic, which forced the closure of numerous stores. The main strategies are focusing on short-term profitability, strengthening the sales force, reorganizing the product team, and outsourcing non-key functions such as e-commerce marketing and CRM. These efforts, combined with efficient promotion and cost management, led to an impressive recovery, boosting MC Group's profitability despite the pandemic's impact.
After a year of recovery, Mr. James Richard commenced the “Accelerating Domestic Growth” theme as the main strategy in the fiscal year 2023-2024. He capitalized on MC Group's strengths and oversaw a transformation that propelled the company's growth. By expanding brand awareness through the "My Mc My Way" campaign, utilizing top-name brand ambassador Ananda Everingham, diversifying customer segments, and leveraging e-commerce and big data.
This shift resulted in FY2023's remarkable revenue and net profit growth of 31% and 44% respectively. Continued in the 9-month period of FY2024, MC Group's net profit still increased by 10% year-on-year. MC Group's stock price also reflects its performance turnaround by increasing from THB 9.15 per share in July 2021 to THB 14.70 in March 2024, representing a 61% increase while the SET index declined by 12%.
Vision, Mission & Future Plans
As Mr. James Richard enters his third year as CEO, his vision for MC Group grows bolder. Guided by the theme of "Accelerating Domestic Growth", he continues to shape MC Group's future with a focus on rapid expansion. His ambitious vision also includes international market penetration, enhancing the brand proposition, and expanding the product portfolio. This forward-looking approach, combined with Mr. James Richard's unwavering commitment to excellence, promises a future where MC Group continues to thrive and outperform market expectations.CAREER HIGHLIGHTS
