BANGKOK, NNA - The sole Thai distributor for Japanese health care product maker Morishita Jintan Co. is projecting its sales to surge 50 percent this year through efforts to boost domestic and overseas sales.
Sales are expected to grow to 225 million baht ($6.5 million) from last year's 150 million baht as Thai Jintan Co. is trying to strengthen domestic sales, which account for 85 percent of the total, and increase export volume to new foreign markets, according to Narit Vittayavarakorn, managing director of the company.
Domestically, it has allocated 85 million baht to a marketing budget to promote and widen its customer base in Thailand this year, with 40 percent of the budget set to be spent on online media advertisements.
Narit said the company is currently distributing capsule mint candies and liquid toothpastes, originated by its long-term trading partner Morishita Jintan, under the "Nude" brand in the Thai market and also has an exclusive right to sell them overseas.
The two products are made with innovative Japanese technology which differentiates them from other brands, Narit said. Capsule mint candies are imported from Japan and then packaged in Thailand, while liquid toothpastes are manufactured by Thai original equipment manufacturers based on Morishita Jintan's formulation.
The capsule mint candy segment, part of Thailand's 20.8 billion baht confectionary market, is worth 2.52 billion baht and is expected to grow 2.4 percent to 2.58 billion this year. The company aims to increase its share of the Nude candy series in this segment from the current 2.6 percent to 5.5 percent.
The Nude product is also available in over 10 foreign countries worldwide, including Singapore, Malaysia, Laos, the United States, Belgium, Australia and Saudi Arabia.
Thai Jintan is negotiating with local distributors in Britain, Myanmar and Vietnam to sell the candies as well as seeking opportunities to export both candies and liquid toothpastes to South Korea and China this year.
The company is also planning to diversify its portfolio by importing other innovative Morishita Jintan goods such as dietary supplements and skin care products for sale in Thailand starting in the fourth quarter of this year. (NNA/Kyodo)