Eveandboy allots B200m for branding

Eveandboy, a Thai cosmetics and perfume retailer, is spending 200 million baht to reinforce its beauty business and build brand awareness across the Asean region.

Hiran Tanmit, the company's chief executive, said after the easing of the pandemic, its makeup product line posted a significant comeback in the first two months of this year, with sales growing by 71% year-on-year, particularly in the lipstick and foundation categories.

The relaxation of mask-wearing protocols was a key factor in driving consumer demand for makeup products, he said.

Many brands also launched new products, further stimulating consumer activities.

Skincare products, including "cosmeceuticals" and body care lines, recorded 53% growth year-on-year for the first two months, said Mr Hiran.

The company plans to resume investment this year, spending 200 million baht, the highest level in 17 years, to build brand awareness of Eveandboy stores and beauty products across Asean.

The plan supports its strategy to expand its business into Asean countries over five years, he said.

The investment plan calls for the company to roll out a new campaign called "Shine The Universe" between March and August. It hired Mark Tuan from popular Korean boy band Got 7 to be its initial brand ambassador.

Mr Hiran said the company invested heavily in campaigns spanning all media platforms, including offline, online, out-of-home and skytrain platforms.

Eveandboy expects Mark Tuan to appeal to the young generation, with a smart, cool and iconic fashion sense, coupled with a passion for self-care. His massive youth fan base aligns with the target customer group, reflecting Eveandboy's identity, said Mr Hiran.

"The introduction of a new global brand ambassador should attract more customers to our exciting product categories, such as makeup and skincare," he said.

"We are confident given the level of Covid-19 infections, the brand's makeup line can post unparalleled growth, ranking as the top-selling product in the beauty store market this year."

Mr Hiran said the brand posted remarkable sales growth in the first two months of 2023, surging more than 60% year-on-year.

Eveandboy operates 18 stores across the country, with three branches scheduled to open in the first and second quarters, he said.