TCP Group targets to triple sales to Bht 100,000 million in five years
- Kicks-off 5-year plan to elevate TCP Group to become a “great Thai company on the global stage”
- Investing Bht 10,000 million to reinforce position as ‘House of Brands’
- To open one new plant or office overseas every year in next five years
- “As an owner of the world’s first truly global Thai brand, we carry the Thai flag on the world stage. It’s a huge responsibility. Our organisation and our management must therefore operate at the highest global standards. The 5-year programme that we launch today reflects that commitment to make TCP Group an enterprise that can bring honour to Thailand in the global arena.” – Mr. Saravoot Yoovidhya, Chief Executive Officer, TCP Group
Saravoot Yoovidhya, Chief Executive Officer of TCP Group, at the press conference
Bangkok (2 August 2017) – TCP Group, the Thai owner, manufacturer, and distributor of Krating Daeng (Red Bull), Ready, Sponsor, Som Plus, Mansome, and Puriku beverages as well as Sun Snack snacks, today, announced that it has launched a massive, five-year organisational transformation programme aimed at making the group into one of Thailand’s most admired enterprises and tripling annual sales to Bht 100,000 million.
(From Left to Right) Vassanai Krits-aramruang, Department Director – International Business, Surachai Chonglertvarawong,
Division Director – Marketing and Supachai Junkeiat, Division Director – Marketing
Mr. Saravoot Yoovidhya, Chief Executive Officer, TCP Group, said, “What we manufacture in Thailand goes into more than 10 billion cans of beverage consumed in more than 170 countries around the world. As an owner of the world’s first truly global Thai brand, Red Bull, we carry the Thai flag on the world stage.
It’s a huge responsibility. Our organisation and our management must therefore operate at the highest global standards. We will invest Bht 10,000 million as part of
a five-year programme that we are kicking off today to strengthen our group’s capabilities.
He said, “The Bht 10,000 million transformation programme is comprised of three main initiatives; namely, strengthening our management and staff capabilities, expanding and enhancing our manufacturing capacity, and growing our on-the-ground presence in other countries. Our new corporate identity, which we are also proudly unveiling today, represents the excitement with which our group looks to the future.”
Mr. Saravoot said that TCP Group is strengthening its management and staff capabilities through a programme of intensive training for its staff utilising a budget of Bht 100 million during the next five years.
“We are also enrolling the finest managerial talent and creating a high performance culture that blends Thai culture with the best of global practices. Many of our leadership team have learnt global best practices as senior executives in multinational companies in the fast-moving-consumer-goods sector, and they are now applying their skills to building a Thai company and Thai brands. Their skills, combined with the exceptional track-record of our long-standing leaders, will also further strengthen our organisation,” he added.
According to Mr. Saravoot, TCP Group has two plants in Thailand and a further three plants in Indonesia, Vietnam, and China with total production capacity of over one billion (1,000 million) litres per year. “Thailand is a global manufacturing and research and development hub producing at the most stringent quality standards and able to supply anywhere in the world. Our investment plan expands our production capacity and enhances our global capabilities with state-of-the-art technologies.”
He said that the very large scale of TCP Group’s exports, exceeding Bht 20,000 million annually, has also made TCP Group Thailand’s largest exporter of canned beverages.
Mr. Saravoot said, “In the next five years, we will open at least one new office or plant in a country, every year. We, currently, have an on-the-ground presence in four countries, and this programme will more than double that number to nine. We aim to make TCP Group a powerful ‘house of brands’, and having a local office in other countries helps the group better understand the needs, habits, and preferences of local consumers and to develop products that can even better meet their particular needs.”
“It’s in our DNA to invest for the long-term and try what’s never been done before, whether that be in product formulation or marketing or in terms of business models,” he added.
"We have a truly extraordinary opportunity to put a Thai company on the global map and we believe the time is now to make
this major investment and leap to the future,” Mr. Saravoot said.
TCP Group is comprised of T.C. Pharmaceutical Industries Co., Ltd., which is the primary manufacturer of group products, The Red Bull Beverage Co., Ltd., which is responsible for the marketing and sales of group products, T.G. Vending and Showcase Industries Co., Ltd., which owns and operates vending machines for group and other products, and Durbell Co., Ltd., which is the distribution company for group products as well as other brands.
Consolidated TCP Group sales for the first half of 2017, ending 30 June 2017, was Bht 14,600 million, and is forecast to reach Bht 30,000 million for the full year ending 31 December 2017.
TCP Group products are enjoyed in more than 170 countries worldwide. The Group manufactures and sells products in six categories under eight primary main brands: Energy Drinks under the brands of Krating Daeng, Ready, Som Plus, and Warrior; Electrolyte Beverages under the Sponsor brand; Functional Drinks under the Mansome brand; Ready-to-Drink Tea under the Puriku brand; Snacks under the Sun Snack brand and Beverage Concentrate for Red Bull original flavor.
The group employs more than 5,000 people worldwide.