Carabao Group is pleased to win the “Thailand’s Best Managed Companies 2022” for 2 consecutive years and plans to market proactively with 3 new products starting with the leading brand “Carabao Dang” with a budget of over 2,000 million baht expanded glass bottle factory with 1 furnace, and exported to 60 countries around the world covering 5 continents.
Mr. Kamoldist Smutkochorn, Deputy Managing Director of Carabao Group Public Company Limited, said that the Company won Thailand’s Best Managed Companies 2022 from Deloitte, which is an award that is recognized globally. This is the 2nd consecutive year of winning the award, which winning this honorable award reflects the intention of all of us to work under the vision of “World Class Product, World Class Brand” and emphasizes being a leading organization in Thailand. Today, we can improve and step out to a world-class level proudly.
Thailand’s Best Managed Companies 2022 award is organized by Deloitte Thailand, a global business consulting organization. Therefore, there is a selection process for the finalist organizations and a strict judging process. The award is judged by an independent commission of representatives from the business sector and the educational institution in accordance with international guidelines for Deloitte’s Best Managed Companies award winners.
For companies participating in the selection process, skill assessment and management guidelines are required, which consist of strategic analysis, business operation analysis, capability and innovation, organizational culture and commitment as well as corporate governance and corporate finance. It has been assessed against a framework that has been applied to more than 1,200 of the world’s best-managed private companies.
Mr. Kamoldist said that when the COVID-19 situation diminishes, the Company, therefore, plans to do proactive marketing immediately with 3 new products. Starting with the leading brand “Carabao Dang” which has been going for 2 decades, it is time to adjust the “new formula” with 4 times the strength of vitamin B12, modernizing the label, and developing a new brand of energy drink “Kanzou X2” to penetrate the premium segment. The highlight of the new product is a mixture of liver extract which is bringing the trend from “Japan” to pioneering the Thai market to meet the target group who labor, work hard, does not get much sleep including the party animal as well.
As for vitamin C products, a new formula of “Woody C+ Lock Gluta” has been released to expand the target group to the new generation, especially women who are conscious of their appearance. Currently, the vitamin C beverage market is worth around 6,000 million baht and is in a firm growth of only 5 percent compared to the COVID-19 outbreak, the market has grown by 2 digits. In terms of the overall market, “competitors” are increasing, but “Woody C + Lock” is still No. 2 with a market share of 7-8 percent, while “leader” has a share of more than 50 percent.
Mr. Kamoldist said about the export market that we are very proud that Carabao has been exported to almost 60 countries around the world covering all 5 continents: North America, South America, Africa, Europe, and Asia. In order to produce products to reach target groups in each country, the Company has developed specific formulas to best suit the needs and preferences of consumers in each country.
“In addition, we never stop being engrossed in developing and expanding exports to new countries, whether large or small countries, including countries with challenging topography for transporting goods. For example, Bhutan is the latest country where Carabao has been distributed.”
Carabao energy drink is also No. 1 in the hearts of Cambodians. Cambodia is another country that distributes Carabao both in cans and bottles. In Cambodia, Carabao is the number 1 selling energy drink, proving that Carabao is able to carry the favor of Cambodians by the key factor in pushing sales making Carabao become number 1 is the distribution of products from dealers, which played an important role in pushing for a comprehensive product distribution nationwide with dealers in different provinces with vehicle units that distribute products thoroughly. There are also small motorcycles called moto sales serving the shops in the Phnom Penh area as the city has a lot of shops and the traffic is quite jammed, using a small motorcycle is easy and fast to access the shop. It is regarded as a dealer with a strong distribution base.
For the investment plan in 2023, the Company is preparing to expand the investment in a glass bottle factory with 1 furnace. It is expected to invest at least 2,000 million baht and will market non-alcoholic beverages with a budget of about 300 million baht. It is planned to spread communication, build brand and product awareness, and push sales growth.
“The trend of the non-alcoholic beverage market in 2023 is improving from economic signals, consumption and tourism recovering but the worried factor is still the cost of production, energy prices, electricity prices increase, causing the Company to manage production efficiently,” said Mr. Kamoldist at the end.