Magazines Archives - 2012 August

Tipco eyes ASEAN to boost brand awareness and revenues
Story 7 - Food Business Asia

Thai-based juice and beverages manufacturer, Tipco Foods, is looking to double its revenue contributions from its ASEAN markets over the next two years, as its aims to bring its Tipco brand of fruit juices to the South-east Asian region.

Located Looking to tap on the ASEAN Economic Community (AEC) which comes into effect in 2015, the group's new managing director, Ekaphol Pongstabhon, said the company has set its sights on two of the region's largest markets in terms of population, the Philippines and Indonesia.

"What we want to do is send the right product and the right message into these countries. To achieve that, we need to understand the consumers and the market mechanism itself. We have been conducting market research in cooperation with our distributors in those countries to access insights into consumer [behaviour] and see what room is available in the marketplace," he stated.

With close to two decades of canned fruit and fruit juice experience in Thailand, a category that accounted for about 70% of the group's Bt5-billion (US$159 million) in sales last year, Tipco has already posted a 15% sales growth in its first half of this year over the same period in 2011. This year, the group has set aside Bt200 million for its marketing initiatives overseas as it looks to boost brand awareness in the region and increase its overseas contributions to 20%.

"We have set up a vision of doing business for the health of Thai and ASEAN people. We also want to be a regional player in the branded fruit-juice sector … What we want to do initially is to create awareness of the brand in potential markets in ASEAN and promote market accessibility in those countries," Ekaphol maintained.

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