The recent trend in beauty products to focus on innovations that cater to the needs of consumers of all ages has led to an expansion of the skincare market over the past 5 years. But the market leaders are still foreign and organic brands.
Mr. Michael Ye, Managing Director of K2 Medical (Thailand) Co., Ltd. revealed that the market leaders of skin care and beauty products in Thailand are still imported brands from the United States, France, Japan and South Korea. In the past, there were no Taiwanese brands. Come to the Thai market, while Taiwan is a manufacturer and exporter of extracts to Korea and other countries. Therefore, the company believes that there are still great opportunities for Taiwanese brands to enter the Thai market.
This year, K2 Medical (Thailand) Co., Ltd. plans to enter the Thai skin care market. Imports NHH brand from Taiwan, which contains LONICA extract, and distributes beauty products through K2 Aesthetic subsidiary company. Has been authorized by B&M International Biotech Co., Ltd. to be its exclusive distributor in Thailand. Initially, it will sell 6 product groups: Hyaluronic Acid Treatment Serum, Hyaluronic Acid Treatment Cream, Hyaluronic Acid Treatment Emulsion. , Hyaluronic Acid Peeling Facial Cleanser, Hyaluronic Acid Energy Toner, Hyaluronic Acid Herbpro Acne penetrate the new generation and youth Y2K market
“The presence of many players in the market has provided consumers with more choices to meet their individual skin care needs and lifestyle. At the same time, consumers are ready for new innovations. Taking care of their skin and allowing themselves Looks best. Therefore, the company sees it as a challenge rather than an obstacle. Because most of the skin care brands are now imported from the US, France, Japan and Korea. Therefore, opening up new markets under Taiwanese products. Therefore, This is an opportunity for companies to make a difference. Including consumer credibility and confidence.
79 Uni Mind Co., Ltd. CEO Pete SheachAs a distributor of NHH branded products, Mr. added that in 2023, the company has 3 operational strategies: 1. Branding and bringing innovations in natural botanical extracts to customers will focus on branding in Q1 and Q2, making people aware of all 6 NHH brands.
2. In the third quarter of this year, we cooperated with B&M International Biotech Co., Ltd., the developer of NHH brand A joint venture to establish a business alliance, ready to move Taiwan’s research to Thailand to research and develop new beauty products from Thai plant extracts to promote Thailand as the center of 100% organic beauty products in the Asia-Pacific region, and to build its own brand in the future. The company is still researching outsourcing Production.
3. Expand products in other channels. In the first three months, they will be sold through the company’s online channels and various platforms, including various markets. In the fourth quarter, they will expand to retail channels. Mall Group and CPN in Bangkok and major cities are mainly around 10-20 locations this year, as they create a one-stop service retail model that provides both product information and skin care. Facial skin and hair, including new products that support future imports, including the launch of A+PERDU brand hair care products, starting from Laos, Cambodia, Malaysia, Indonesia, Vietnam and other neighboring countries to open up the international market.
“Our product meets the needs of a health-conscious target group. Organic makes it satisfy the needs of consumers of all ages from teenagers aged 11-12. Up to 50 years old who start taking care of their skin up to the aging group who want bright and firm skin The people problem is sending messages to consumers through demos and real users. In the beginning, it will focus on online marketing and have real users tell them. Create software before you start selling
As for the initial expansion, it will start in Thailand. But at the same time, we will also pay attention to the market around the house, whether it is in Laos or not. Vietnam and Cambodia quickly aroused the interest of partners in neighboring countries because of the kick-off principle. So this is an opportunity to be able to somehow market both in Thailand and in neighboring countries as a distributor
For this year’s investment budget, due to the relocation of the R&D center, it is roughly estimated at 200-300 million baht. Coming to Thailand requires a lot of budget, both in terms of tools and setting up a budget in many places and for marketing. We expect to be able to easily reach 9 this year.