TOG rebranding to turn over 360 degree of the business Boosting 360 WORLDSIGHT concept Flagging as the leader in optical lenses manufacturer internationally

Stocks and Financial Services Press Releases Friday February 19, 2016 13:41
Bangkok--19 Feb--Muse Republic

TOG announces an investment plan for 3 years; an organization's major rebranding by improving the organization's corporate identity and reorganization to become more modern. Also, to develop the innovation of optical lenses production to satisfy the visually impaired people's lifestyle by planning to continuously launch new product quarterly. And intend to increase market share of optical lenses in the United States of America and ASEAN countries. The company confidently believes that it will become the leader as a world-class independent lenses manufacturer.

Mr.Torn Pracharktam, Managing Director of Thai Optical Group Public Company Limited or TOG, Thailand's leading in optical lenses manufacturer and distribution, and the international independent lenses manufacturer, reveals that in 2015, the Company has total revenue at 1,824 MB and earned net profit at 230 MB, accounted for 12.6%. Anyhow, it is partly resulting from the global optical lenses market that continuously grows. There are over 1.8 billion people of the optical lenses users and tend to continuously increase more than 3% every year. Therefore, TOG has planned to invest in the next three years (2016-2018) with over 800 MB budget in order to penetrate the optical lenses market both nationally and internationally, especially in the United States of America and ASEAN countries, i.e. Indonesia, Myanmar, and Vietnam.

As for the business direction in 2016, TOG has budgeted 450-500 MB by dividing into two parts; 300-350 MB for the investment on increasing the production capacity in Prescription Lens or Rx Lens, which is the product that generate a good profit. And 150 MB is for rebranding the organization in 360 degree to support the Company's growth that rise continuously 10% in each year.

For the organization rebranding part, TOG will turn over 360 degree to modernize the brand by using "TOG 360° WORLDSIGHT" theme, which means 360 degree of aspect that reflecting wide products and service, conforming to the customer's need and the company's widespread vision that's moving towards the future. There are changes in four major parts; part one is building the brand's identity or improve the logo to have more distinctive character, including repackaging and improving the product display to be more lucid. The second part is to continually develop the quality of the optical lenses by giving precedence to the quality material used in the production, including the innovation in developing the optical lenses to satisfy the user's lifestyle. And another important thing is to develop Bio-lenses that are Eco-friendly which will help reduce Global warming. The third part is to improve the plant and the machine to be more effective. In the future, the plant will be fully automatic, which could handle the production capacity over 1 million pieces per month and expected to start operating in the third quarter of this year. And the final part is to reorganize the corporate structure to a modern new age organization with flexibility and fit more to the New Generation age.

Additionally, TOG has set target to penetrate and expand the USA market and ASEAN countries. The international market share is at 95% at present, which most of the share is the European country, Australia, New Zealand, USA, and Asia Pacific. The Company aim to penetrate AEC market by distributing the product through joint venture which is Malaysia, Singapore, and Vietnam. Also, it is in between the study and negotiation more with the partnership in Indonesia, the Philippines, and Myanmar in order to expand branches to be ready for purchasing power in AEC market.

"The Company is positive that this major reorganization of TOG and in the next three years ahead will push forward the Company to step in as number one leader of the world-class independent optical lenses manufacturer and will be accepted by the consumer who extensively uses the quality optical lenses globally", Mr.Torn ended.

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