Published By : 12 Oct 2015 | Published By : QYRESEARCH
Thai Beverage, the drinks conglomerate, wishes to become the leader in the beverages market in the ASEAN region and will be investing around Bt 15 billion into a regional expansion by 2020. The ASEAN region comprises Thailand, Singapore, Philippines, Malaysia, and Indonesia.
The group is owned by the Sirivadhanabhakdi family, who said that the company’s long term plans will not be affected by the sluggish economy of Thailand and that they were certain the economy would turn favorable in the near future.
As part of the expansion plans, Thai Beverage is planning on developing a new line of products and is encouraging its agents across the country to step up efforts to increase sales.
President and chief executive of the Thai Beverages group Thapana Sirivadhanabhakdi said that the firm was guiding its business based on its vision for 2020. He added that the company planned on cashing in on the massive growth potential in the ASEAN region. The economic development in the region can be attributed to trade liberalization, which came after the implementation of several free trade agreements.
Thapana Sirivadhanabhakdi said that the company truly believes in the lucrative opportunities presented in Asia. The gross domestic profit of the member countries combined was as high as 80 per cent of the overall GDP in the world. However, the most famous brands in the ASEAN region are based in the east, especially in South Korea and Japan.
He added that there are no major brands from Southeast Asia and as a result, the region holds strong potential to be a successful beverages market. It also has the capacity to build its own reputation in the international industry.
In the first six months, Thai Beverages presented a growth of 4.5 per cent year on year with a Bt 8.6 billion revenue. The net profit of the company went up 8.2 per cent to settle at Br 12.4 billion.