Central Marketing Group (CMG), a subsidiary of Central Retail Corporation and a leading distributor of more than 40 top global brands in fashion, beauty, watches, and technology segments, anticipates revenue growth of more than 20% for its beauty business this year.
Edwin Yap Hawson, the company president, said the growth will primarily stem from product innovation and the introduction of new brands to meet revived demand in the beauty market in the post-pandemic period.
He said the new beauty brands align with consumer preferences for natural, organic and sustainable products.
"After the Covid-19 crisis subsided, we observed a significant rise in local consumer interest in beauty items, with greater demand for skincare products and increased experimentation with makeup and fragrance," said Mr Hawson.
The return of tourists to Thailand also contributed to the accelerated growth of the beauty market, he said.
Thailand's beauty market is estimated to be valued at more than 23 billion baht.
"We intensified our innovation efforts across all key beauty segments, including facial skincare, body care, makeup and fragrances, catering to the evolving needs of our consumers," said Mr Hawson.
To support these initiatives, the company plans to allocate a budget of 400 million baht this year for the launch and expansion of brands, as well as marketing campaigns to drive innovation and enhance omni-channel service fulfilment.
"CMG's strength, which has helped us capture the hearts of Thai consumers for many years, is we never stop innovating on products and services to satisfy ever-changing demand and beauty trends," said Paviyada Rattanasudjai, the head of the beauty and technology category of CMG.
In the latter half of 2022, the company acquired the distribution rights for Hermès Beaute, the beauty line of the renowned Parisian luxury brand.
Following the acquisition, CMG launched the first Hermès Beaute store on the M floor of Paragon Department Store, followed by a second branch on the first floor of CentralWorld last year. These stores offer a range of premium makeup and perfumes.
Recently CMG opened a third branch on the M floor of The Emporium mall, with the newest branch on the first floor of Central Ladprao.
The company expanded its beauty portfolio by introducing Swedish brand L:A Bruket, which follows the growing trend of organic beauty.
The brand aligns with a growing consumer preference for safe and environmentally friendly natural extracts. L:A Bruket is known for its premium organic skincare products made from the finest natural ingredients, promoting long-term skin health.
The brand received Cosmos certification, validating the high quality and organic nature of its skincare items.
"We are confident the L:A Bruket brand will meet the evolving beauty needs of Thai consumers," said Mrs Paviyada.
CMG boasts a stable of eight prominent beauty brands: Clarins, The Body Shop, Kiko Milano, Three, Banila Co, LuLuLun, Hermès Beaute, and L:A Bruket.
Given the positive outlook for the industry this year, the company introduced several new products during the first five months. These include Parfums-Jardins, the latest fragrance collection from Hermès Beaute; L:A Bruket's facecare product featuring Algica®, a patented biotech ingredient from Sweden; and Kiko Milano's new collection, Beauty Roar, which emphasises enhancing your beauty.
Other new offerings comprise Vitamin C Skincare products from The Body Shop, designed to illuminate and revitalise dull and lacklustre skin, and Three Balancing Cleansing Oil N, a best-selling product that moisturises the skin, providing a refreshing texture akin to a beauty serum.
CMG also expanded its distribution channels to ensure greater accessibility of its beauty brands to customers. This includes leveraging e-commerce platforms, social media channels, and omni-channel platforms to reach a wider audience.
"The most important factor that has enabled CMG to grow in Thailand for over 72 years is we placed customers and innovation at the core of everything we do," said Mr Hawson.
"We have never stopped searching for the best, to bring world-class experiences to Thai consumers through our diverse range of more than 40 brands that cover every aspect of daily life."
In addition to the dedication to beauty products, he expressed pride in CMG's partnerships with renowned global brands across various categories. These collaborations extend beyond beauty to encompass valued brands such as Dyson, Casio G-Shock, Guess, Polo Ralph Lauren, Calvin Klein, MLB, G2000 and Fitflop.
By joining forces with these top brands, the company aims to bring the very best products to Thailand, said Mr Hawson.
"CMG strives to stay abreast of emerging trends, introduce new brands to the market, and adapt to evolving consumer demands," he said.
"This commitment is vital in maintaining CMG's position as Thailand's premier distributor of top global beauty, fashion and technology lifestyle brands."
