PTT Oil and Retail Business Public Company Limited (SET: OR) signed a contract with Konvy to fully operate the health and beauty business, as the company planned to launch its first branch within mid-2024 and distribute its products across Bangkok and perimeter through both PTT Station and Cafe Amazon.
OR stated that the company jointly signed an agreement for business alliance with Konvy International Company Limited to explore the investment opportunity in the health and beauty business, as they aimed for mass segment clients that prioritized self care and were interested in products with good quality and prices, as well as easier access to luxurious health and beauty brands.
OR added that the company focused on creating changes to the current state of the Thai health and beauty market and on presenting new types of product to the market together with the strengths of OR and Konvy.
Earlier, OR signed a business alliance agreement with Sugi Holdings Company Limited, one of the leading pharmacies and the biggest leader for nanotechnology platforms in Japan, to explore the opportunities for the health and beauty market in Thailand.
The cooperation with Sugi Holdings was the first step for OR to push the company to become the leader in the health and beauty market in Thailand, which was the second largest industry in Southeast Asia, with a value of THB 350 billion in 2022.
