THAILANDSICThailand Standard Industrial Classification

TSIC Activity

47731

Retail sale of watches, eyeglasses and photographic equipment in specialized stores

ประกอบกิจการค้าจำหน่าย ปลีก และส่ง แว่นตา เลนส์ และอุปกรณ์เกี่ยวกับสายตา

What this activity covers

This activity involves the retail sale and repair of watches, eyeglasses, and photographic equipment in specialised stores.

  • Watches Retail — Sale of watches and watch straps
  • Eyewear Retail — Sale of optical instruments and eyeglasses
  • Photographic Equipment Retail — Sale of photographic equipment, excluding digital cameras
  • Optical Instruments — Sale of optical acuity measuring and ophthalmic instruments
  • Watch Repair — Repair services related to watch sales

What companies here also do

Seen in real company registrations under this code — beyond the official definition, so licensing may differ.

  • Eyewear Accessories — Sale of related accessories for eyewear
  • Photography Accessories — Sale of photography-related accessories
  • Import and Export — Import and export of watches and accessories

Not included here

  • Digital Camera Retail Store View 47420 activities

Foreign ownership

List 3: Restricted, FBL/BOI route availableinherited from 47

Retail sale of goods of all kinds, where the aggregate minimum capital or the minimum capital per store is below the level prescribed in the Act

Not a hard restriction — only applies while under-capitalised. A foreign-majority retailer is exempt from this List 3 item (no Foreign Business Licence needed) once registered capital meets the Act's minimum, typically THB 100 million in total and THB 20 million per store. Verify current ministerial-regulation figures.

FBA B.E. 2542, List 3 (14)Routes: Foreign Business Licence, BOI promotion, US Treaty of Amity

Auto-mapped, verify against the Act. These TSIC mappings are indicative, not legal advice; the schedules of the Foreign Business Act B.E. 2542 are the authority. See the full foreign ownership reference.

Industry at a glance

as of 23 ก.ค. 69

The whole registered industry under this activity, every registration year, from the DBD DataWarehouse.

914
active companies operate here
฿7.1Bregistered capital, combined
฿38.9B
Sector revenue · 2025
+3% since 2023
฿3.0B
Net profit · 2025
437 profitable
202320242025

net profitrevenue

Foreign investment

new registrations · 2026 YTD
32%of new registered capital is foreign-held
฿23.0M foreign฿49.5M Thai

Foreigners are strongly represented in new investment under this activity.

1 of the 5 largest companies here are foreign-owned Thailand subsidiaries.

New in 2026

56-6.7%

registrations, YTD

Registered capital

฿7.1B-1.5%

since year-end

Largest by revenue

Latest filed-year revenue, not a multi-year total

  1. 1THG Prima Times Co., Ltd.฿5.9B
  2. 2RUAMJAERNGPATTANA PUBLIC COMPANY LIMITED฿5.7B
  3. 3Cortina Watch (Thailand) Co., Ltd.intl฿3.1B
  4. 4Audemars Piguet (Thailand) Co., Ltd.฿2.6B
  5. 5VV Retail Co., Ltd.฿1.5B

Largest by registered capital

  1. 1RUAMJAERNGPATTANA PUBLIC COMPANY LIMITEDNonthaburi฿2.5B
  2. 2Sritong Panich Co., Ltd.Bangkok฿360.0M
  3. 3VV Retail Co., Ltd.Nonthaburi฿260.0M

Source: Department of Business Development DataWarehouse. Financial figures are combined totals of companies that filed statements; revenue and profit shown for the latest three reporting years.

Companies registered since 2022

Browse all

New DBD registrations under this activity since 2022, the period the registry snapshot covers, not the full historical register.

260
Registered
since 2022
238
Still active
22
Dissolved
฿1.0M
Median capital
of active

New registrations per year

2022peak 64 in 20252026

Largest active companies by registered capital

Source: Department of Business Development (DBD) new-registration records, 2022 to present. Counts cover companies first registered in that window, reflect the latest snapshot load, and may lag the live register.

Emerhub

Restricted activity? There is usually a route.

Emerhub structures foreign-owned companies around FBA restrictions: Foreign Business Licence applications, BOI promotion, and compliant shareholding structures. Talk through your case before you commit to one.

Talk to Emerhub Thailand