“Although the current situation has affected the global economy and purchasing power, people have always been concerned about health and beauty,” says Patcharapol Suttidharm, Managing Director of Ireal Plus. “Thai beauty products with quality will always have room to grow in the global market.”
Ireal Plus manufactures cosmetics, skincare, spa products and supplements. It has won many awards, including Prime Minister’s Export Award, IP Champion and Green Factory. In addition to producing more than 2,000 products for other brands, it has developed its own Ireal brand to service both the domestic and international markets.
“We are trying to balance sales between B2B and B2C as each has its own advantages,” he says. “B2B can save investment in particularly on marketing, while B2C has a higher profit margin.”
The company has diversified its production line to produce quality cosmetics and health supplements as well as hygiene products.
“With over 20 years’ experience, we want to help promote Thailand as the ‘Hub of Beauty’ in global markets under the slogan ‘goodness of beauty – to do business with morality,” says Suttidharm.
Thailand exports approximately 100 billion baht (US$3.18 billion) of beauty, makeup and skin care preparations each year, while the beauty and healthcare-related industry could create several million jobs for Thais.
Currently the company’s sales are split 30 % / 70% in favour of domestic markets. However, Suttidharm aims to reach more overseas markets with both offline and online channels.
“Anyone can penetrate the global market if they have a strategy to do marketing on online channels,” he says.
Suttidharm believes it is important to find the right local partner to access new markets, and as such the company is always seeking business matching opportunities, which is where the DITP’s work is essential.
“Local people know the market better than outsiders,” he says. “Thus, I’m always seeking new opportunities for business matching; and the DITP is the perfect matchmaker.”
Ireal Plus employs about 200 workers. In the future it will focus on green technology and innovation to drive forward. Suttidharm believes the key to business success is to adjust to fast-changing global trends. It is currently developing cosmetic products based on hemp and cannabis, which will be launched in the third quarter of this year both for B2B clients and under its own brand.
For more information, please visit: www.irealplus.co.th
Words by Petchanet Pratruangkrai
Photo courtesy of Ireal Plus Co., Ltd