• 
• 

Published on December 27, 2007

President Arpirat Kiatphaibool said the sluggish economy was the main factor affecting the company's sales revenue. He expects Max & Mighty to earn nearly Bt140 million this year, down Bt20 million from earlier expectations. However, sales have increased 30 per cent from last year's Bt100 million.

"Sales revenue has declined significantly since the third quarter, but we were very happy with the sales volume in the first half of the year," he said. "I think consumers were in no mood to shop, and many were careful about spending. I hope the Thai economy shows brighter prospects next year."

Arpirat said Missha was rebranded this year, in accordance with headquarters' policy. Meanwhile, other South Korean skincare and cosmetic brands have penetrated the Thai market. He still believes Missha enjoys very high brand loyalty from its customers.

This year, Max & Mighty expanded 10 Missha counters around the country. At present, there are 25 Missha branches operating in Thailand two years after entering the market. The company expects to spend between Bt75 million and Bt100 million to open 15-20 counters next year. Half of the new shops will be run by franchisees, Arpirat said.

He predicts the company will generate at least Bt200 million from Missha.

Recently, Max & Mighty introduced Red Mango non-fat yoghurt ice cream into the Thai market. The company will promote both Missha and Red Mango next year. "The company's sales revenue could double next year to at least Bt400 million from our two brands. For Red Mango, I expect to open 30 shops, both in Bangkok and upcountry," said Arpirat.

Nalin Viboonchart

The Nation