Food and beverage producer and distributor Malee Group is expanding into personal-care manufacturing by setting up a joint venture with Indonesia’s largest consumer conglomerate, PT Kino Indonesia Tbk, to introduce lifestyle products to the Thai market.
The JV, Malee Kino Thailand, is teaming up with CP Consumer Products to efficiently distribute the new products across Thailand, Malee Group chief commercial officer Opas Lopansri said on Monday.
“We will create growth through expansion via this venture with PT Kino Indonesia Tbk, which is very strong in Indonesia’s consumer market, especially in the personal-care, food and beverage, and pharmaceutical segments.
“The synergy between our two companies puts us in a great position to produce and distribute lifestyle products that meet the needs of over 330 million consumers in both Thailand and Indonesia,” he said.
Opas added that the move reflected Malee’s market-expansion strategy, which is based on collaboration with partners in various sectors to develop new products as well as sales and distribution channels both locally and internationally.
Thailand’s personal-care market is valued at around Bt154 billion, according to Euromonitor International data from March.
The three market segments Malee Kino is entering in Thailand that “offer great potential and are suited to today’s lifestyles”, Opas said, are: the skincare market, which has a value of Bt70 billion and 6.1-per-cent growth; the hair-care market, valued at Bt29 billion with 6.3-per-cent growth; and the oral-care market, with a market value of Bt8 billion and 7.2-per-cent growth.