Lifestyle products / TAN

Editorial staff

SET- listed Tanachira Retail Corporation (TAN) , a leading importer and distributor of global luxury lifestyle products, unveils 2024 strategic plan by restructuring its business into four groups with clearer business direction to become more competitive.

The restructuring will help enhance its competitiveness, support exponential growth potential, and cater to customers' lifestyles in all dimensions.

Tanapong Chirapanidchakul, TAN's chief executive officer, said that TAN’s business groups was devided into four categories. The first is lifestyle including Pandora, a leading jewelry brand from Denmark, and Cath Kidston, a lifestyle brand with a modern vintage touch from England, and the second is a fashion group including Marimekko, a brand known for its unique prints and colors from Finland, GANNI, a fashion brand with distinctive design and identity from Scandinavia.

The third is a beauty & wellness group including HARNN, a brand offering body care, skincare, spa, and aromatherapy products, Vuudh, a brand of contemporary Thai fragrances, HARNN Wellness & Spa, which expanded both domestically and internationally, including HARNN HERITAGE SPA, SCAPE BY HARNN, THE SPA BY HARNN, and BY HARNN. And the last is a food & beverage group including brands from celebrity chef Gordon Ramsay’s Bread Street Kitchen & Bar, Gordon Ramsay Street Pizza, and Gordon Ramsay Street Burger, along with cafes, such as Marimekko Kafe and Cath Kidston Tearoom.

In 2024, the company sets to grow its sales by 20% this year from 1.41 billion baht last year . This will be driven by same-store sales growth (SSSG) of approximately 10% and new store sales growth of 10%.

The company will spend 200 million baht to open 23 new branches both domestically and internationally, and increase profitability.

In addition, the company will set up a joint venture company with Chinese partner to expand HARRN spa and wellness in China. Thanachira holds stake 55% in the joint venture while the company partner holds 45%. It is on the process to ask for product approval from Chinese Food & Drug Administration.

It also launches a leading fashion brand from Japan this May to help expand the customer base to young generation and increase brand awareness for TAN. Moreover, the company plans to launch Street Burger, a burger chain from England, in order to diversify Gordon Ramsay's famous brands and capitalize on the recovering restaurant market. The brand will target new-generation burger lovers and tourists looking for a new burger experience. The brand is expected to launch officially in Thailand at the end of 2024, with a target of opening three branches in total.

Mr Tanapong added that to enhance operational potential and support business expansion, the company has strengthened its management team with experienced professionals to drive the strategic plan towards its goals.

"We aim to become a truly integrated lifestyle company through the creation of lifestyle ecosystem with a variety of international and our own brands to cater to customers in all dimensions. We will also increase our competitiveness and create sustainable growth, propelling TAN to become a leading regional lifestyle company," Mr Tanapong said.