PTT Oil and Retail Public Company Limited (SET: OR) is planning to advance its new retail chain “found & found,” focusing on the health and beauty market in Thailand through its strong channel of more than 2,200 gas stations and strategic location for a standalone store.
OR has joined forces with Sugi Holdings, a leading Japanese company renowned for its pharmaceutical network and cutting-edge nano-technology platforms, to revolutionize Thailand’s health and beauty market by offering a curated selection of high-quality, innovative products at affordable prices through the new “found & found” retail chain. “found & found,” a health and beauty retail targeting females (primarily) & males age 18-44 as well as income class B &C, has already launched three stores and plans to expand to 10 branches by the end of 2024, with an ambitious goal of reaching 500-800 branches by 2030. This expansion underscores OR’s commitment to establishing itself as a leader in lifestyle retail and making a significant impact in the health and beauty sector.
Mr. Disathat Panyarachun, Chief Executive Officer of PTT Oil and Retail Business Public Company Limited (OR), stated: “OR’s goal is to provide comprehensive lifestyle solutions that cater to all aspects of modern life. We are enhancing and diversifying our portfolio beyond oil products to meet a wide range of consumer needs. Specifically, OR aims to tap into the growing health and beauty market, which is the second-largest in Southeast Asia. As consumer interest in self-care continues to rise, OR is committed to elevating the delivery of health and beauty products, making them more accessible and convenient for Thai consumers. Our partnership with Sugi Holdings, a leading Japanese firm with expertise in health and beauty, allows us to offer high-quality products supported by advanced Japanese technology and knowledge. This collaboration will significantly enhance the consumer experience in Thailand, ensuring that our offerings are both innovative and effective.”
Mr. Nattapon Choojitarom, Managing Director of OR Health & Wellness Company Limited (ORHW), added: “ORHW aims to transform the health and beauty landscape in Thailand with ‘found & found,’ a retail concept focused on offering a diverse array of products including cosmetics, skincare, supplements, and vitamins curated from local and international partners. Among them is Sugi Holdings, one of Japan’s largest and fastest growing players in the pharmaceutical and nano-technology sectors, to bring exclusive brands such as Prieclat U, S-Select, Under Method, and T3 to our “found & found””
There are five distinct personas with associated pain points and needs for found & found. Convenience Seeker that looks for the most convenient way to get a variety of products and Brand & Quality Hunter who cares about brands that build on trust in quality and effectiveness are the primary target for the new health and beauty chain. Meanwhile, Promotion Lover, Budget Shopper and H&B Enthusiast are secondary targets.
Beauty products such as skincare, makeup and personal care will cover around 70-80% of the shelf, while healthcare, accessories and others will fill the remaining 20-30% of the store.
Sugi Holdings operates a wide range of businesses, including Sugi Pharmacy, which boasts over 1,500 locations across Japan, and Sugi Medical, which offers healthcare services. It partners with manufacturers like Pharma Foods International Company Limited and Cosmed Pharmaceutical Company Limited, which produce advanced skincare products using microneedle technology, as well as Kyowa Cosmetics Company Limited, a cosmetic and skincare manufacturer known for producing “T3” shampoo for Sugi Drug Stores in Japan, whose products will also be available at “found & found” stores in Thailand. Additionally, ORHW plans to introduce additional products from Sugi Holdings that incorporate cutting-edge research and technology. This initiative will provide Thai consumers with access to state-of-the-art health and beauty products and services at affordable prices.
Other than Sugi Holdings, OR also have two other strategic partners that help the company in this new business. The company signed an MOU with Konvy International, a beauty product retailer, on March 6, 2024. The company later signed an MOU with Amorepacific, a leading South Korean Beauty company, in late March.
“found & found” benefit from OR’s extensive network of PTT Stations and community malls, providing easy access to convenient and modern self-care solutions. The stores feature a CRM system integrated with the blueplus+ membership application on xplORe, offering personalized promotions and special deals based on purchase history. Customers can join the “found & found” membership and stay updated on exclusive offers, events, and promotions through the “found & found” LINE Official Account. By delivering a fresh and innovative consumer experience, “found & found” aims to lead the health and beauty market in Thailand and strengthen OR’s position in the lifestyle sector.
Three stores of “found & found” can be found at Sai Mai 56 PTT Station, Borommaratchachonnani 97 PTT Station and EnCo Pop-up.
