Sportswear-maker Warrix targets Asean presence as a sports sciences enterprise

Warrix chief executive officer Wisan Wanasaksrisakul said at a press conference on Tuesday that the company aims to be the first regional brand for sports sciences.

Warrix will provide products and services in all aspects of sports sciences in the coming years, such as health tech, health science, wellness, supplements, sport wears, training, sleep therapy, and physical therapy, among others, he said.

"However, sportswear products to meet the growing trend of active lifestyles will continue to be our core business, as it is the company's main revenue source," he said.

Wisan was confident that the company would perform well this year after successfully listing on Thailand's stock exchange in December 2022, raising enough funds to support its expansion plans.

He anticipates additional sales growth from Premier Football, a leading sportswear retailer in Singapore that Warrix recently acquired in January.

"We are currently working to complete the registration of wholesale and retail regulation in Malaysia. Following this, we intend to expand in Vietnam and Cambodia," he explained.

He insisted on using a database to carefully and concisely analyse every stage of the company's growth.

Apart from the Thai football league, the company plans to support brand sales by acquiring more licensed products from the music industry, sponsoring major sports events in Thailand and the Asean region, and bidding for sportswear makers of athletes in Indonesia's football league, Malaysia's football league, and Vietnam's football league.

Warrix aims to support all types of sports, including running, training, basketball, tennis, and table tennis, because the company is well aware that each sport category garners a different level of preference in each Asean country, Wisan said.

Apart from continuing to expand licensed and non-licensed products in both domestic and international markets, Warrix is now focusing on healthcare services by acquiring Fit Junctions, a multi-funnel fitness and nutrition educator.

Warrix's physical therapy clinic and performance-training studio will benefit from the move, Wisan said.

Fit Junctions' general manager, Fasai Peungudom, said that he expects this business to contribute 50 million baht to Warrix's total revenue this year.

Wisan said that he expects Warrix to grow by 20-30% this year and to achieve 2.7 billion baht in sales by 2026.

According to Warrix's annual report, sports licensing products account for 21% of the company's sales, while general products (non-licensed) account for 78% and healthcare (clinic, therapy and sleep) accounts for 1%.

"Most people know us as a sportwear football brand or supporter of the national team clothing. However, we are a sports brand that wants to expand into active lifestyle, which is in every stage of people's lives, whether it is health or fitness," he said.

Warrix's net profit in 2022 was 128.63 million baht, up 113.53 million baht, or 752% from the previous year's net profit of 14.2 million baht.

The increased profit and revenue were due to increased revenue across segments, recovery from the Covid-19 pandemic, and cost management efficiency that the company has tried to improve, he said.