OR accelerates its entry into Thailand’s health and beauty market
PTT Oil and Retail Business (OR) collaborates with Sugi Holdings (Sugi), a leading Japanese drugstore chain and nanotech platform operator, venturing into the health and beauty sector to cater to Thai consumers' lifestyle needs.
Disathat Panyarachun, OR Chief Executive Officer, and Katsunori Sugiura, Sugi Holdings Representative Director & President, jointly signed a memorandum of cooperation in Tokyo.
This collaboration aims to explore Thailand's health and beauty market, offering a diverse range of quality, affordable, and distinctive products tailored to Thai consumers.
Disathat highlighted Thailand's position as Southeast Asia's second-largest health and beauty market, valued at 350 billion baht in 2022. With strategic international and local partnerships, OR plans to capitalize on this opportunity by introducing a novel retail format that provides a seamless shopping experience both offline and online.
The platform will feature unique and affordable products from Japan, Korea, and Thailand, propelling the company into a new growth trajectory.
Under the memorandum of cooperation, Sugi contributes Japanese health & beauty products, knowledge, and technology, while OR utilizes its extensive nationwide physical network and Blue Plus loyalty program to drive growth in the Thai Health & Beauty retail market. Together, OR and Sugi aspire to enchant Thai customers with a new store concept slated for launch in 2024.
Sugi oversees various subsidiaries, including Sugi Pharmacy with 1,500+ stores in Japan and Sugi Medical, providing medical care and nursing services. Emphasizing customer-centricity, Sugi envisions a personalized healthcare system. Nanotechnology serves as a crucial element in enhancing product effectiveness, setting Sugi apart.
OR is dedicated to establishing a thriving presence in the Health & Beauty sector, collaborating with strategic partners to deliver high-quality offerings that meet the health & beauty needs of consumers throughout Thailand.
