Jay Mart’s Hypergrowth Propels Founder Adisak Sukumvitaya To The Ranks Of Thailand’s 50 Richest

This story is part of Forbes’ coverage of Thailand’s Richest 2022. See the full list here.

Adisak Sukumvitaya parlayed Jay Mart from a single store into a tech-driven retailing and financial services group with a total market cap of $6.5 billion. And he’s still dreaming big.

When Thailand’s stock exchange recently rejigged its SET50 Index, an index of the biggest companies by market cap, Adisak Sukumvitaya emerged a winner. Admitted were his flagship company Jay Mart plus its debt collection and management unit JMT Network Services, both among the hottest Thai stocks in the past year—up 54% and 74%, respectively—while the index fell more than 3%. The double-entry was a seminal event for the Jay Mart founder and CEO, who opened his first shop, selling household appliances, in 1989.

“For me, it’s a big reward in my entrepreneurial journey of 33 years,” says Adisak,…