KISS speeds up to be Asia’s leading beauty and health company
Rojukiss International PCL (SET: KISS) Chief Executive Officer, Ms. Worrawan Chaikamnerd provided an admirable interview regarding her business strategy under the tough timing caused by the Covid-19 pandemic and the company’s core vision reflecting future growth.
1. Amid the Covid-19 pandemic, what challenges have your business faced? And what is your key strategy?
The COVID-19 pandemic has been one of the major challenges for Thailand’s beauty industry and our company. We must refine our strategies and business plans to cope with the ever-changing market and rapidly changing consumer behavior.
Regarding the long-term strategy, we aim to increase our top line to 3,000 million baht by 2026. Our focus remains on beauty and health products, such as skincare, makeup, hair color, and food supplements, which align with the company’s vision and mission: To be Asia’s leading beauty and health company by creating the best innovation to fulfil everyone’s demand and inspiring people across Thailand and Asia.
2. How is your product development and business expansion plan?
The priority is to grow and strengthen our core brand – the Rojukiss brand by enhancing the product innovation. At the same time, we continue searching for opportunities to reach consumers by adjusting marketing strategies called “Beauty Convenience.” Since Q1/2022, we have been trying to communicate with consumers through digital channels and leveraging data to create effective communication. All supports from our market research team provides in-depth market insights, ensuring that we proceed with the best fit consumer-based strategy.
One tactical approach we used during the pandemic was increasing product volume but maintaining the price. With this promotion, we not only added value and increased customers’ access to the product but also captured profitability at a reasonable level. As a result, Rojukiss has continued to grow despite the challenging business environment amid the slow trending of Covid-19 pandemic. with a sales target of 1,000 million baht by 2024 as Rojukiss remains our powerhouse brand.
In addition, we have also attempted to push other potential brands, especially “Best Korea” brand, in which we have upgraded into new formulas and imported ingredients from abroad. The brand highlights its ‘convenience to carry and use anywhere’ concept because we distribute it as a sachet, which also comes up with an affordable price for everyone. Furthermore, we also launched a new product under the Best Korea umbrella, “Best Korea SSUK,” targeting to teen shoppers. The company is committed to build Best Korea the Second Pillar.
Strengthen the company with health innovations
Our core vision and mission is to become Asia’s leading beauty and health company by creating the best health-related innovation. Recently, we invested in Hibiocy Co., Ltd. (HIB) to expand our business into health innovations. Consequently, we were able to roll out the first product called “Vaill CoviTRAP Anti-CoV Nasal Spray”, designed to suppress the COVID-19 virus physically. We received a very positive support from the market.
Expanding markets and opportunities to become Asia’s leading beauty and health company
Regarding the company’s long-term plan, we also search for new growth opportunities abroad. Currently, we have entered into four major countries: Indonesia and Vietnam – through the foreign distributor model, Laos and Cambodia – through the cross-broader sale model. In these markets, we found high demand for beauty and health products and similar customer behavior to that of Thai consumers. Particularly in Indonesia, after the product kicked-off, we received an impressive receptivity that exceeded our expectations.
Overall, our key strategy is to focus on developing new products, bringing out the best of Rojukiss and adjusting the products to fill the gap in consumption trends. Therefore, we must understand the consumer first, build innovative product, and find a suitable partner whose expertise could bring us into the market.
3. At the end of Q3/2022, KISS launched a new product concerning COVID-19 virus prevention. Please tell us about its specialty.
For this project, we collaborated with Faculty of Medicine at Chulalongkorn University, the Institute of Health Systems Research (HSRI), Silpakorn University, and the Government Pharmaceutical Organization (GPO) to form up the Thai medical working team to fight against COVID-19. Consequently, we successfully invented Thailand and the world’s first innovation in developing a nasal spray with Monoclonal Human Antibody Cocktail technology from research on human immunity to combat and inhibit the COVID-19 virus. It is considered an advanced biological technology developed from decoding antibodies obtained from volunteers who have recovered from COVID-19 infection and have excellent immunity, which helps inhibit and prevent COVID-19 physically. Impressively, it could hinder the infection covering up to 98% of all species and last up to 6 hours.
This nasal spray works in two functions; (1) trapping the virus with the HPMC that covers the surface of the nasal cavity, which reduces the virus’s ability to embed itself in the nasal cavity, and (2) excellent immunity, adopted from recovered patients (Human Monoclonal Antibodies), will inhibit and block COVID-19 entering the nasal cavity physically.
For me, this product is the pride of Thais whose breakthrough innovation could transform society. It shows our indubitable potential, which is second to none in the world.
4. What core value have you and your company employees adhered to?
As a beauty and health company, we have always committed to integrity, especially to our customers, partners, shareholders, and other stakeholders.
Honesty and integrity mean providing valuable products that serve consumers’ demands at an accessible price, as well as maintaining consistent Rojukiss grade quality.
On behalf of Rojukiss International Pcl, we will continue to develop products through innovations and with latest technologies under ethical business practices and good corporate governance. All aim to orchestrate the organization to grow sustainably.
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