Post-pandemic business growth: CMG aims for 20% revenue boost relying on beauty trends
In an era marked by a surge in consumer-based beauty industry trends, Central Marketing Group (CMG), a key Central Retail Corporation subsidiary and renowned distributor of over forty top-notch global brands, targets a 20% revenue business growth for their beauty segment this year.
The company’s president, Edwin Yap Hawson, notes that the anticipated business growth can be credited to inventive product development and the incorporation of new brands, all designed to cater for the emerging demand in the post-pandemic beauty market. He aligns the newly introduced brands with the consumers’ preference for products that are natural, organic, and sustainable.
Mr. Hawson observed, “After the Covid-19 crisis subsided, we observed a significant rise in local consumer interest in beauty items, with greater demand for skincare products and increased experimentation with makeup and fragrance.”
The booming beauty market in Thailand, reportedly worth an estimated 23 billion baht, experienced significant business growth as it was reinvigorated by returning tourists.
“We intensified our innovation efforts across all key beauty segments, including facial skincare, body care, makeup and fragrances, catering to the evolving needs of our consumers,” Mr. Hawson disclosed.
The company is expected to channel an estimated 400 million baht this year towards brand launches and expansions as well as marketing campaigns, aimed at fostering innovation and improving omni-channel service fulfilment, thereby fueling business growth.
Unveiling the company’s long-standing winning formula for business growth, Paviyada Rattanasudjai, head of the beauty and technology category at CMG, said, “CMG’s strength, which has helped us capture the hearts of Thai consumers for many years, is we never stop innovating on products and services to satisfy ever-changing demand and beauty trends.”
The second half of 2022 saw CMG acquire the distribution rights to Hermès Beaute, the sophisticated beauty line of the elegant Parisian luxury brand, followed by the opening of the brand’s first two stores in Thailand.
L:A Bruket, a Swedish brand known for its superior organic skincare products, was also added to the company’s expanding beauty portfolio to meet the increasing demand for safe and eco-friendly beauty products, encouraging business growth in this sector.
“We are confident the L:A Bruket brand will meet the evolving beauty needs of Thai consumers,” observed Mrs Rattanasudjai.
Notable among CMG’s top beauty brands are Clarins, The Body Shop, Kiko Milano, Three, Banila Co, LuLuLun, Hermès Beaute, and L:A Bruket.
In light of this year’s buoyant industry outlook, the company has introduced several new products, including a selection from Hermès Beaute, L:A Bruket and Kiko Milano.
Asserting commitment to its consumer base and business growth, Mr Hawson demonstrated how CMG has expanded its distribution channels, utilizing e-commerce platforms, social media channels, and omnichannel platforms to reach a broader customer base, reported Bangkok Post.
“The most important factor that has enabled CMG’s business growth in Thailand for over 72 years is that we placed customers and innovation at the core of everything we do,” Mr. Hawson affirmed.
Backed by its strategic global collaborations with brands across different categories, CMG aims to bring a diverse range of these top-of-the-range products, equating to more than forty different brand lines, to Thailand, enhancing its business growth potential.
Mr. Hawson reinforced CMG’s commitment to upholding its leading position as Thailand’s primary distributor of top global beauty, fashion, and technology lifestyle brands, aiming for business growth by staying at the forefront of market trends, introducing fresh brands, and adapting to ever-evolving consumer preferences.
