“Thanachira Retail Corporation Public Company Limited” (TAN) showcases the Company’s expertise as the expert in brand management and its success in strengthening the popularity of world-class luxury fashion lifestyle brands such as Pandora, Marimekko, Cath Kidston, HARNN and Vuudh, etc., highlighting the experience and expertise in effectively conveying brand identity to consumers. The Company is also preparing to expand the business ecosystem through broadening the portfolio of brands into related business groups to support the rising luxury product trend while fostering growth at the regional level.
Mr. Tanapong Chirapanidchakul, Chief Executive Officer of Tanachira Retail Corporation Public Company Limited (TAN), revealed that the Group is an importer and distributor of various lifestyle products in different categories, such as premium jewelry at accessible prices from Pandora, Marimekko premium bags and apparel, premium but affordable Cath Kidston bags, health and beauty as well as luxurious spa products and services under HARNN brand, and Vuudh premium lifestyle boutique items. This is carried out with the committed vision to become the leader among top lifestyle and fashion companies in the region through the delivery of exceptional experience to the customers and to create value from sustainable operations for all stakeholders. The Company has gained the trust of world-class brands through the import of products for distribution in Thailand, and the introduction of the best products and services of the various brands to consumers under the “Bring the Best of the Brand to the Best of Thailand” concept. So much so that it has succeeded in fostering spectacular popularity for the brands in Thailand and is looking forward to growth at the regional level.
The Group sets the goal to cultivate sustainable growth by using its strengths to create competitive advantage as being a leader in the lifestyle and fashion retail business through the Group’s large portfolio of a variety of product brands, its high growth potential, and the wide range of distribution channels covering both offline and online domestically and abroad. Tanachira has the ability to meet the needs of every customer group, as the lifestyle and fashion product brands under the Group’s portfolio have met with global success and demonstrating high growth rate.
Also, the Group has been successful in pioneering and introducing new lifestyle and fashion brands to consumers in Thailand until it was able to quickly expand branches and customer base, as well as adjusting the strategy to add more brands to the portfolio and expanding into related businesses by devising marketing strategies to connect the brands with the daily lives of consumers, and through unceasing communication with target customer groups both offline and online, resulting in the brands under the Group gaining continuous popularity.
The business ecosystem expansion of the brands under the portfolio is helping to leverage the extension of the brands’ success towards other related businesses through the delivery of extra-special experience to the consumers in other dimensions, so that all brands within the Group will grow as a brand group synergy. This is due to the fact that the customers of each product brand of the Group can choose to buy products or use the services of other brands in the Group as well. In addition, TAN sees the opportunity to further expand its business and therefore has decided to purchase HARNN, which is a leading Thai brand producing and distributing beauty and natural spa and aromatherapy products with high growth potential. This move is aimed add strengthening the Group’s business portfolio, as products in the HARNN group have shown continuous growth both domestically and abroad. As of December 31, 2022, the Group has a total of 23 storefront branches and spa franchise branches in Thailand and an additional nine branches abroad in Japan, Hong Kong, Vietnam and Saudi Arabia. Meanwhile, the performance of HARNN brands has grown outstandingly, with sales of 191.47 million baht in 2022, or a growth of 88.27 percent compared to the previous year. This clearly reflects the potential of this business group.
Where the domestic retail industry is concerned, the trend leans towards recovery to pre-pandemic levels within 2023 as seen in the return to normal spending and the reopening of the country to foreign tourists. As a result, the overall economy is expected to recover steadily. Thailand’s household consumption is projected to gradually recover and increase to 10.1 trillion baht by 2026, with a compound annual growth rate (CAGR) during 2021-2026 equivalent to 3.8 percent per annum as a result of the government’s stimulation of domestic consumption, along with the investiture of the new government that will also have a positive effect on consumer confidence and spending.
In addition, brands under the Group are considered to be among the high growth industry as a result of the growth of household income and urbanization. Frost & Sullivan has forecast that the premium affordable handbag industry will grow 16.7 percent, the premium bags and apparel industry will grow 9.2 percent, the beauty and cosmetics industry will grow 9.2 percent, and the health and premium spa services will grow 23.6 percent. Last but not least, the premium but accessible jewelry industry is forecast to grow 11.8 percent from 2022 to 2026.
“TAN is determined to fulfill the lifestyle demand of our customers through offering products that primarily meet the needs of customer groups, as well as continuously expanding the business portfolio by leveraging the business from brands within the portfolio to the lifestyle food and beverage businesses, starting with the setting up of pop-up cafés in Thailand under the names Marimekko pop-up café and Cath Kidston Tearoom to create shared experiences and convey the brand identities through interactions, thus allowing customers to partake in similar lifestyle together with the brands through the culinary offerings in a café with the knock-on effect of stimulating the purchase of the products, as well as making the brand more well-known by customers sharing their lifestyle activities on social media to create growth synergy for the brands under the Group to expedite the goal of eventually becoming a leading regional lifestyle brand,” Mr. Tanapong added.
