After the businesswoman May Wasana Inthasaeng shared on a popular program that she livestreamed opening her collection to sell dozens of brand-name items, raising suspicions about whether she was broke or facing business problems. Recently, May Wasana attended the “REVOMED GROUP” event to launch Beauty & Wellness innovations from Japan, including a signing ceremony and updates on modern health and beauty trends at The Apartment, 9th floor, Park Hyatt Bangkok. She was asked about these rumors.
Recently, on the show "The Explainer," you sold brand-name items?
“People said, ‘Honestly, even your company staff are worried, wondering if May is broke. Why are you clearing out your entire closet like this?’ I have to say it made a big impact. On Facebook live, 5,000 watched, and nearly 1,000 on Instagram. Everyone was surprised too.”
“Our concept was ‘Madam May’s closet opening.’ There was nothing left. I’d held onto these treasures for five years, hoping they’d appreciate. Do you understand the term 'cut loss'? It means ending it but with pain. Everyone holding onto things, you’re not alone on the mountain — fate is your companion.”
“Whatever I bought at a high price, today I’m willing to let go. I bought a bag for 14 million baht and sold it for 5 million. I’d kept it for almost five years, but it’s unlikely to increase in value. Plus, the bags cost me air conditioning and maintenance fees. I had to take good care of them. When they piled up so much, I thought if I didn’t end this today, it would hurt more. So I opened the collection.”
“There were bags and clothes too. A friend called to scold me, saying, ‘I bought this outfit from you for 120,000 baht, and you’re selling it for 7,000 baht. Isn’t that ridiculous?’ I just don’t remember. These were items without hangers, so I felt like letting them go. Once I started, it became fun. On the day I opened the room, 1,000 people came in. It was really fun, and everyone was happy to get good deals.”
But some people saw the clearance and wondered if there were problems in your life?
“Actually, there’s no big problem. It’s not extravagant, but I’m okay and happy. My finances are still good. So not extravagant, but comfortable. No problems. (Is it because you haven’t been paid back yet, so you’re selling stuff at home?) We have a grand opening on the 30th; I’ll go into more detail then.”
How many bags did you sell?
“Oh, it was over ten. That day, I sold 20. I’m proud. I also sold one small snake chain necklace. (Not that snake necklace?) No, not that one. I hadn’t worn it in a long time, so I thought there was no point in keeping it. I shared it around.”
What was the actual purchase value?
“Honestly, that necklace didn’t lose value. It’s now worth 6 million baht, and I bought it then. The rest all lost money, especially the house bag. That was very sad. I remember buying a small Hermès house bag at the time that Mae Chom (Araya A. Hargate) used, so I bought the same black one for 14 million baht.”
“Then about two weeks later, a buff color appeared, so I bought two bags to hedge my leverage. I kept them, thinking it was not a profit. Eventually, I sold them for 5 million baht, suffering a heavy loss. It was the worst investment of my life.”
“I warn that investments carry risks, but if you buy because you like something, then it’s fine. At the time, I thought I’d make a real profit, so I kept them. People like that — one is for enjoyment, you have to like it first, then love it. It becomes a beloved item.”
“But items I don’t use and hold onto for a long time, even if I see losses now, I think if I don’t cut losses today, I will lose later. So just cut losses. It’s easier to lose less now than more later. Before, I tried consigning at shops, but it didn’t earn much and took a long time. I figured I could sell myself, so I just did it myself.”
A reporter joked, ‘Is there a journalist price?’
“Just join my group. Some people cried tears of joy. ‘Madam May Line Square’ — go check it out. ‘Madam May’s closet opening’ — go see it. Some said they were very happy. Honestly, for the bags, whatever price I paid, I sold them at whatever price they offered. The live was spontaneous. Once I said a price live, even my staff and mother said no, but I’d already said it. My friends scolded me a lot, saying if I’m going to sell at that price, I should keep the items. They’ll take them later.”
Please confirm again for many who wonder if you have problems, stumbling, or bankruptcy?
“Business is good. The financial statements are good. I probably pay hundreds in taxes. So the business is still doing well now. I’m not broke like that.”
And what about your younger sister’s (Yogurt Natthachat) love life?
“For my sister’s love life, I’m confident she’s talking to someone. I can say this firmly. But for the real person and details, ask her yourself.”
Click to readEntertainment news: More