Mr. Disathat Panyarachun, Chief Executive Officer, PTT Oil and Retail Business Public Company Limited ("OR"), and Mr. Katsunori Sugiura, Representative Director & President, Sugi Holdings Company Limited ("Sugi"), one of Japan's largest and fastest growing drugstore chains and nanotechnology platform operators, jointly signed a memorandum of cooperation in Tokyo, Japan, to explore Thailand's health and beauty market opportunities, curating an extensive range of good quality, good value, and unique products that resonate with Thai consumers.
Mr. Disathat revealed, "Thailand is home to Southeast Asia's second largest health and beauty market, valued at 350 billion baht as of 2022, with growing consumers who are keen to take better care of themselves. Together with international and local strategic partners, OR plans to seize this opportunity by launching a new retail format with ultra-convenient shopping experience across offline and online with access to unique and affordable products from Japan, Korea, and Thailand - creating a new S-curve for the company."
Under the memorandum of cooperation, Sugi offers its Japanese health & beauty products, knowledge, and technology; while OR leverages its physical network throughout the nation and Blue Plus loyalty program to accelerate growth in the Thai Health & Beauty retail market. Together, OR and Sugi aim to delight Thai customers through the new store concept that will be available in the country within 2024.
Sugi operates multiple subsidiaries under its umbrella, such as Sugi Pharmacy, with over 1,500 stores throughout Japan, and Sugi Medical with its medical care and nursing services. Through its subsidiaries, Sugi offers a wide array of health and beauty product and services. Sugi embodies the concept of customer-centricity, given its vision for a total healthcare system that are well-tuned for each individual. Additionally, nanotechnology is adopted as a key enabler in its product platform to enhance effectiveness - an important differentiator of Sugi's offerings.
OR is committed to building a successful business in the Health & Beauty sector, working collaboratively with strategic partners to provide quality offerings helping consumers across Thailand fulfill their health & beauty needs.
Source: PTT Oil and Retail Business