The wellness industry is expected to flourish this year, driven by a projected surge in foreign tourist arrivals, according to Divana Wellness Co Ltd, a leading Thai luxury spa operator and retailer of aromatherapy products.
Pattanapong Ranuraksa, chief executive and founder of Divana Wellness, said Thailand's wellness industry includes many small and medium-sized enterprises (SMEs).
He believes that if all stakeholders work together to establish industry standards and strive for excellence, the sector can attract wellness enthusiasts.
"The rise in tourist arrivals will benefit the entire industry and our business," he said.
The government is targeting 40 million foreign tourist arrivals this year and aims to break the pre-pandemic record of 39.9 million set in 2019.
Currently, the company's customer profile comprises 80% foreigners and 20% Thais, Mr Pattanapong noted.
He said the company has two main lines of business: luxury spa business, and spa products and aromatherapy retail under the "Divana" brand.
Currently, the company operates six luxury spa branches, with four in Bangkok, one in Chiang Mai and one in Phuket.
He said the company plans to allocate 100 million baht to branch expansion this year.
He added that the company will add more services, including a spa product shop and cafe at the existing branch in Phuket.
"Furthermore, we are considering opening two new luxury spa branches in Pattaya and Chiang Mai this year," he said.
The company now has a retail presence in 20 locations, including King Power City Boutique at One Bangkok.
The company plans to add five more outlets this year, one of which will be located at Icon Siam shopping mall in Bangkok, Mr Pattanapong added.
He said the company is eyeing international markets such as China, Japan and Europe, as well as countries in the region and the Middle East.
The company is targeting sales worth 600 million baht this year, up from around 300 million baht last year.
This growth would be driven by the opening of new stores, a projected 30% increase in sales from existing stores and the anticipated rise in tourist numbers, Mr Pattanapong added.
