Nu Skin to reveal its research details
Nu Skin Enterprise (Thailand) general manager Pakapun Leevutinun with a Mae Fah Luang University lab technician displaying equipment for producing easy face cream. The company will join the university in staging a seminar this month as part of its brand-b
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Nu Skin Enterprise (Thailand) is planning to focus on building wider awareness of its Pharmanex brand food supplements this year, with the aim of strengthening consumer loyalty in the current gloomy economic environment.
General manager Pakapun Leevutinun yesterday said the company hoped to educate consumers on the proper use of food supplements and would reveal the research and development efforts that have led to the release of each of its products. She said that after eight years on the Thai market, there was already a wide awareness of Pharmanex products. However, details of its medical studies have never been revealed and doing this would add value to both the products and the brand. Moreover, it will create trust in the products, which will support continuing sales. She said people were now more educated and they tended to pay more attention to the properties of products. Consumers also tended to be more careful in selecting food supplements. Pakapun said Nu Skin Enterprises would increase its overall marketing budget by 20 per cent this year, with 60 per cent of the total to be spent on Pharmanex products. The rest will be allocated to the company's personal care products. She said the market for food supplement products was valued at about Bt8 billion. Of this, 16 per cent goes to vitamins and minerals, 34 per cent to regular food supplements, 42 per cent to health drinks and the rest to other food supplement products, such as those for children. Nu Skin claims a 10-per-cent share of the market, which is expected to grow by 10 per cent next year. The company's latest project is cooperating with Mae Fah Luang University to stage the first symposium on cosmetic and health innovations (CHI 2007), which will be held from May 26-27 at Swissotel, Park Nai Lert. It will feature seminars on innovation, technologies and market trends for health, beauty and spa products. Another event, the Nu Skin Expo, will be held from June 8 to June 10 at CentralWorld shopping complex. It will mark the 10th anniversary of Nu Skin Enterprise (Thailand). Pakapun said the company enjoyed a good performance in the first quarter, with 10-per-cent growth from the same period last year.
Nitida Asawanipont The Nation
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