January 4, 2024
Jimmy L. Thai, President and CEO of Primer Group of Companies, has been awarded the prestigious title of Master Innovator for Business Model Innovation at the 3rd Mansmith Innovation Awards last November 17, 2023, because of how he exemplified innovation and entrepreneurship in the retail industry.
This recognition celebrates Jimmy Thai’s transformative approach, steering Primer Group from a traditional importer/distributor to a brand owner and operator across more than a dozen countries.
The Mansmith Innovation Awards, an initiative of Mansmith and Fielder, Inc., aims to spotlight Filipino entrepreneurs and innovators whose contributions have not only added value to their field and industries but have also demonstrated commercial viability.
In his acceptance speech, Jimmy Thai emphasized the collaborative effort behind this achievement stating, “This recognition is not just about me as an individual, but rather a tribute to our incredible team who have worked relentlessly to make Primer Group what it is today.” He provided insights into Primer Group’s evolution, which began almost four decades ago with just one store in Landmark Mall, Makati Metro Manila, Philippines. Today, the company boasts over 300 stores and subsidiaries in seven Southeast Asian territories, representing more than 100 brands and owning 6 globally distributed brands - The Singapore brand - World Traveller,The French Brand - Sledgers Footwear, Flight 001 - from New York, Poler Outdoors from Portland, MRKT bags, and Freewaters footwear from the U.S.
Reflecting on the challenges faced, Jimmy Thai outlined two significant waves that prompted a reevaluation of their business model. The first wave exposed vulnerabilities in the local market, while the second wave highlighted the limitation of being a middleman in representing global brands locally.
As a response, Primer Group embarked on a journey of evolution and diversification that envisioned an ecosystem where brands could flourish, leading to the creation of Aeroworx – the enabling arm for e-commerce that expands their operations online. Digiworx – the in-house agency that provides 360-degree marketing service to their brands and other clients. Primer Distribution Center – the warehousing and logistics arm that eases their operations, and partnerships with brands whose identity resonated deeply with its own culture.
Jimmy Thai compared the experience similar to riding a wave, acknowledging the fear and excitement that accompanied the journey. He emphasized the importance of strategic execution, restructuring the business model for diverse markets, selecting compatible partners, and constant learning from mentors, competitors, and mistakes.
In his closing remarks, Jimmy Thai imparted valuable lessons drawn from Primer Group’s journey, “when you see a wave, don’t run from it” he urged, emphasizing the importance of facing challenges head on. He also highlighted the power of mentorship, the necessity of perseverance in mastering one’s craft and the significance of dreaming beyond just one generation.
As Primer Group continues to mark its footprint in the industry, Jimmy Thai expressed gratitude to everyone who has been part of Primer’s journey, “Our experience at Primer Group is a testament to what can be achieved when you choose to ride the wave, no matter how daunting it may seem.”
Primer Group, under Jimmy Thai’s leadership, stands as a beacon of innovation and resilience in the business landscape, inspiring others to navigate challenges and embrace transformative opportunities.