Wuttisak Clinic Intergroup Co, a beauty clinic operator, intends to expand its presence in Asia-Pacific in the next five years.
President and chief executive Pollapat Junvimaloung said there are now 11 Wuttisak Clinics in Cambodia, Laos, Myanmar and Vietnam, all of them franchises.
The company has been contacted by investors in China, India, the Philippines and Indonesia as well as Australia to open Wuttisak clinics in their countries.
The company is conducting a feasibility study on the market potential, laws and regulations to do business in each country.
Franchises and joint ventures are expected to dominate the expansion.
"We expect to open 200 Wuttisak branches throughout Asia-Pacific over the next five years," Mr Pollapat said.
At the same time, the company will open new branches in the domestic market, targeting 200 Wuttisak outlets in Thailand within the next five years. These will be under the company's own investment.
Each branch costs 6-10 million baht, depending on the clinic size, which varies from 100-300 square metres.
"Our beauty business is doing well, both domestically and abroad. No matter what the economic conditions, people always want to look good and love to take care of themselves," said Mr Pollapat.
The Thai beauty market is valued at 20-30 billion baht, with average annual growth of 20-30%.
Wuttisak Clinic claims a 50% share.
This year, the company has earmarked 500 million baht to upgrade medical equipment and services without a price mark-up.
Moreover, the company has extended its services to include surgery and body contouring. It has also set aside a budget of 30 million baht for marketing and PR activities to foster awareness among target audiences.