BANGKOK, NNA - TBC Group Co., a major Japanese cosmetics products maker and salon and spa operator, is making its first overseas foray into Thailand which boasts the largest beauty products market in Southeast Asia and promises to grow 10 percent annually.
Naoko Iwamoto, general manager of both TBC's Beauty & Life Lab. and product planning division of beauty wellness department, says the Tokyo-based firm has picked Thailand as its first foreign venture because Japanese and Thai women have similar spending behaviors on beauty products as well as its market size.
TBC recently opened its first sales counter at Bangkok's ZEN department store to market female facial and skincare products such as Prenity and Mediquest from Japan initially for middle- and high-income customers.
These products range in price from 1,100 to 12,500 baht (about $32 to $358).
It will allocate 25 million baht this year to invest in branch expansion and marketing campaigns in a bid to achieve an annual turnover of 30 million baht.
It aims to operate as many as 30 sales counters in the country in the next three years to post 150 million baht in annual sales revenue.
TBC has partnered with Asia Marketing Corporation Co., a joint venture between Inoue Industrial Co. of Japan and a Thai private investor which imports and distributes quality cosmetics and skincare products from Japan.
Iwamoto says TBC is also interested in opening a salon outlet in the Thai market in the long run. (NNA/Kyodo)