Beauty Community Plc, the cosmetics and skin care product retailer, has set its sights on sales reaching the same level as before the pandemic in 3-5 years after feeling the pinch for two years because of prolonged outbreaks.
To achieve that goal, chief executive Peerapong Kitiveshpokawat said the company restructured its business and refreshed its branding to attract a new generation of customers and reach a wider customer base.
According to Mr Peerapong, the company's rebranding strategy focuses on four areas: new store formats and shop designs; product merchandising and display; new communications; and new service designs.
The company rolled out four new Beauty Buffet concept shops at Central Pinklao, Central Rayong, Ayutthaya City Park Center in Ayutthaya and MBK Center in Bangkok.
Beauty Community plans to open a new concept shop outside the retail complex at Ari Soi 1 today.
He said a total of 16 Beauty Buffet shops will be redesigned according to the new concept this year, with the remaining 35 shops scheduled for a makeover in the first half of next year.
The company also plans to launch three new products to tap into the new generation of customers in the second half, said Mr Peerapong.
He said the company wants to expand its business via authorised local distributors, modern retail chains and its distribution channels.
In the past few years, Beauty Buffet products were sold mainly via beauty shops.
Mr Peerapong said given the fragile economy, with high inflationary pressure and slow consumer purchasing power, the company does not have any plans to open new stores on its own.
Beauty Community would rather focus on offering licences for local partners in provincial areas to open Beauty Buffet shops outside retail complexes.
"We are not concerned about the economic slowdown or any possible recession as long as people still make up their face," he said.
"Consumers are expected to shift to quality cosmetics brands with affordable prices."
Mr Peerapong the company plans to dust off its plan to expand its consumer goods business in the first half of next year when the market is likely to rebound. This plan was postponed for two years because of the pandemic.
Aided by a weaker baht, Beauty Community wants to ramp up exports to overseas markets including China, Indonesia, Myanmar, Malaysia and Vietnam.
The company started to export beauty products to the Middle East last month.
Projecting higher sales from exports, Beauty Community expects to post sales of 3.75 billion baht over the next 3-5 years, a level it last recorded before the pandemic, up from 400 million baht in 2021.
