Siam Food aims to double sales by 2021
Siam Food Services, the importer and distributor of frozen and chilled products under Siam Makro Plc, operator of the Makro cash-and-carry store chain in Thailand, expects its sales to double to US$400 million (12.9 billion baht) in 2021.
Preeyada Sripiboon, the company's deputy director of commerce, said to achieve the sales target, Siam Food will work closely with networks in Vietnam, Singapore, Hong Kong, Dubai and Cambodia to share best practices and market trends to better respond to clients.
It also plans to launch purchase pools and expand its product assortments to new items for new business opportunities.
Founded 35 years ago, Siam Food Services specialises in the distribution of temperature-controlled and value-added international brands of high-quality meat, seafood, poultry, potatoes, dairy, pastry and ethnic food products to food service or professional customers via the food chain, hotel and catering.
Ms Preeyada said the company plans to extend into bakeries next year to tap into the growing segment in Thailand.
There are about 3,700 leading coffee shops, bakery and ice cream shops, with a combined market value of about 6.2 billion baht per year.
The growing coffee, bakery and ice cream business also results in higher demand for dairy products. With this in mind, the company has adjusted the image of the Candia dairy brand with new product packaging and marketing to improve consumer understanding. The target market is mainly professional customers.
Dairy products contributed to 25% of the group's total sales last year, up from 18% in 2016 and only 5-8% in 2013.
Ms Preeyada said apart from professional customers, the company plans to sell its dairy products to end-consumers and offer products via the e-commerce channel by the end of this year.
Revenue from business-to-consumer is expected to account for about 300 million baht this year.
Siam Food Services Group reported sales of $180 million last year, a rise of 15% over 2016. The company expects its sales to grow 15% to $207 million this year.