SAPPE CEO unveiled the business model after overcoming the COVID-19 crisis and challenges, driving the company to grow against economic difficulties with consecutive new highs in the first three quarters. The revenue was expected to increase by more than 30% in 2022 and will be able to reach its triple growth target of 10 billion baht by 2026.
SAPPE Chief Executive Officer, Ms. Piyajit Ruckariyapong, said the world had been hit hard by the COVID-19 outbreak, wars, natural disasters and economic volatility causing a global impact over the past three years. SAPPE was also affected in both domestic and foreign markets including the effect from lockdown measures, an increase in the cost of production and the problems about container shortage and higher freight cost in early 2022. However, the company managed to overcome these challenges and made a great performance with a strong will and strength of business partners worldwide.
In 2022, SAPPE was able to make an outstanding performance hitting all-time high growth in three consecutive quarters. The significant growth was a result of the intense marketing in 98 countries such as South Korea, France, the Philippines, Indonesia, Europe, and the Middle East. In South Korea, SAPPE’s Mogu Mogu was the number one drink, prompting the company to launch a marketing campaign with global influencer and top boy band BTS and make Mogu Mogu to become a lifestyle brand, targeting Gen Z around the world through ZEPETO which is widely known as Asia’s biggest metaverse platform.
Although the COVID-19 pandemic had pressure on the overall economy in the international market, SAPPE still made another step by inventing and developing innovative products to serve new lifestyles. The new products include Beauti Shot Stix, Thailand’s first concentrate shot in Korean style of drinking stick pack offering in two formulas: Colla-C and Immu-C. SAPPE also collaborated with Dek-D to launch new items: Soodd Sud aromatic herbs and Limitless lozenges to heal pain point for Gen Z students. In addition, the company shook the beverage and entertainment industries by joining force with Workpoint Entertainment to establish WOPE, a new joint venture company aimed at creating new marketing called “Eatertainment” to deliver entertainment programs from Workpoint through SAPPE’s innovative products. Under the partnership, SAPPE and Workpoint will use their potential to develop the products and expand the customer bases.
In another important step to raise confidence among investors and business partners along with all stakeholders, SAPPE has announced its business plans to march towards becoming a “Global Brand.” The company sets a goal of triple growth in revenue of 10 billion baht by 2026. It is regarded as the first long-term strategy for SAPPE to boost the business growth from four sectors: the foreign market, the domestic market, All Coco and the Merger and Acquisition (M&A) strategy which aims to strengthen the brand both in the existing and new markets.
“From the day we announced the five-year plan, SAPPE is still moving in the right direction with a satisfying performance in making rapid growth domestically and internationally. Apart from the strength of business partners worldwide, we do appreciate our production teams which are able to manage, produce and deliver quality items to serve the need of global customers in throughout the time,” Piyajit said.
“The outstanding performance is not coincident, but it happened as we believe that we will better people’s lives through our innovative spirit. Every single bottle of SAPPE products is full of quality that the customers around the world can experience. It has been proven by being listed in Forbes Asia’s “Best Under A Billion 2022” and SAPPE is among 13 listed companies in Thailand on the list. This reflects our capability to run business amid challenges from the crisis and grow”
“Furthermore, SAPPE was named as one of the companies on the list of “sustainable stocks,” or Thailand Sustainability Investment (THSI) 2022 from the Stock Exchange of Thailand and won the prize in Gender-Responsive Marketplace from the UN Women 2022 Women’s Empowerment Principles (WEPs) awards. It is the sole awards ceremony in Asia-Pacific with a partnership between the United Nations Women and European Union (EU). This emphasizes SAPPE’s commitment to promote gender equality throughout its value chain. With a strong determination and all operational practices mentioned earlier, you can be assured that we will be able to push SAPPE to become a global brand and can strongly reach triple growth of 10 billion baht by 2026.”