SET-listed Do Day Dream Plc, the maker and distributor of SnailWhite skincare products, has fine-tuned its business strategy, aiming to triple sales to 3 billion baht in five years.
Chief executive Nuntawan Suwandej said its new five-year strategy focuses on four areas: product and brand; distribution network and channel expansion; portfolio management and supply chain logistics management; and investment and business expansion.
She said Do Day Dream wants to invest and expand in four product categories: skincare, personal care, beauty equipment, and sport and wellness.
It is also exploring new business categories in line with global trends.
Ms Nuntawan said for SnailWhite, Namu and Oxecure skincare business, the company will launch an innovative new product under its existing brands, expand to premium line and launch products for men to strengthen its portfolio this year.
The company plans to acquire brands or companies that have products and packaging innovation this year, she said.
"2021 will be a year of recovery for SnailWhile, with a stronger connection to customers by reshaping the retailer relationship. We want to reach out to customers after a pause of such activities for two years," said Ms Nuntawan, adding the company is upgrading point of sales at brick and mortar stores.
She said the company also aims to grow its market share by increasing the distribution network for its products.
It recently formed a partnership with the Thai arm of Swiss trading conglomerate DKSH to distribute its skincare and personal care products at modern and traditional trade in Thailand this year.
Moreover, Do Day Dream expanded into new channels to sell its products, such as the telesales platform and e-commerce, said Ms Nuntawan.
She said the company plans to export Sparkle brand personal care products to the Philippines via local distributors this year.
Do Day Dream is also mulling expansion to the Cambodia, Laos, Myanmar and Vietnam markets.
"We want to reshuffle our product portfolio, adding new brands while removing those that performed poorly," said Ms Nuntawan.
On the production front, the company plans to centralise the group's warehouse and logistics, moving three warehouses in Ayutthaya to Bangkok in the third quarter.
It also wants to maximise manufacturing capacity by offering original equipment manufacturer deals to other skincare brands for better margins.