Tipco introduces dessert cafe, fusion eatery
SET-listed Tipco Foods Plc, one of the world's largest canned pineapple manufacturers, has expanded its business interest to reach more younger customers by opening a dessert cafe and fusion food restaurant.
Kittichet Sathitnoppachai, marketing director of Tipco Foods, said the company recently opened its first dessert cafe, Homsuwan Pina Pina, at Siam Paragon mall.
The plan is to offer Homsuwan pineapple to consumers in a new form other than fresh and as juice.
"Customer feedback on the new cafe was better than expected. The company is considering opening more cafes in the near future in response to youth demand," he said.
Apart from the dessert cafe, Tipco sells its fresh Homsuwan pineapple to the Gourmet Market grocery store at Siam Paragon. To support its business growth, the company plans to double the plantation area of Homsuwan pineapples to 1,000 rai over the next few years.
Tipco recently opened a fusion restaurant called August at Mercury Ville mall opposite Central Chidlom mall.
Mr Kittichet said the new cafe and restaurant strengthen its food portfolio.
Tipco plans to open 20 Squeeze Juice Bar branches under a franchise basis this year.
Ekapol Pongsatabhon, managing director of Tipco Food and Beverage Co, said the company set aside more than 100 million baht to promote its Tipco Mocktail, which was launched earlier this month. The product targets younger consumers who love partying but are still health-conscious.
"We have positioned our product in the premium juice category as there is room to grow in this segment in terms of sales and penetration thanks to the health-conscious trend among the young generation," he said.
The company strongly believes juice will become more popular as healthy food, organic food and going to the gym for cross-fit activities remain on the upswing.
Tipco Mocktail will play an important part in helping to expand its customer base, said Mr Ekapol. The introduction of Tipco Mocktail is projected to boost Tipco beverage sales this year by 6-7%.
The Thai fruit juice market is estimated to be worth 14 billion baht this year with Tipco controlling a 13% market share.
Last year Tipco posted a net profit of 814 million baht on revenue totalling 6.1 billion baht, down from a net profit of 1.18 billion and revenue of 6.8 billion in 2015.
TIPCO shares closed yesterday on the Stock Exchange of Thailand at 16 baht, down 1.10 baht, in trade worth 482 million baht.