After building a multi-million-dollar business, Thai businessman Siripong Akkarasriuk has decided to retire. He will sell his ice cream company, Howells, and completely retire from business.

Thai businessman to become a monk after selling his business worth Rs 50 crore

It is said that money and business are not the ultimate goal of everyone's life. It is somewhat surprising to hear that a businessman, after building a business worth crores of rupees, suddenly decides to give up everything and become a monk. Siripong Akkarasriuk, a Thai businessman who once made a name for himself in the business world, offers one such example.

Siripong, chairman of the ice cream brand Howells, is preparing to sell his business for approximately $6 million, or over ₹50 crore. The important thing is that instead of selling his business and moving into another venture, he wants to become a monk and spend his life meditating and practicing spiritual practice in the forest.

When did you start the ice cream business?

Businessman Siripong Akkarasriuk founded the ice cream brand Howells in 1999. At one time, the brand was very popular in Thailand, boasting numerous stores. However, over the years, the number of Howells outlets has dwindled, and now only one independent store remains.  

How many million dollars will Howells sell for?

Businessman Siripong has valued his entire business at approximately 165 million baht, which is over 6 million US dollars. The deal will include not only the ice cream brand but also several key business components. The package also includes approximately 2.77 acres of land, an office, a factory, a Howells outlet, trademarks, business experts, and ice cream recipes.

Why are you selling a business worth crores?

In a social media post, Siripong explained that his decision to sell his business wasn't solely due to his desire to pursue a spiritual life. Difficulties in expanding Howells' business were also a major factor. He added that he had tried to open new outlets in shopping malls over the past two years, but couldn't find space for his store.

According to Siripong, despite the mall's vacant space after the departure of several former tenants, Howells hasn't had the opportunity to expand. This is why Howells, once a popular destination in Thailand, is now reduced to a standalone location.

He had been planning to become a monk for 15 years.

Businessman Siripong said he began preparing for the next stage of his life about 15 years ago. Now, he has fully decided to become a monk.