TiffinLabs takes big bite of Thai food delivery market
Singapore food-tech startup, TiffinLabs, is working to strengthen its presence in Thailand by opening new restaurants and expanding its food delivery business. TiffinLabs was successfully launched in Thailand in early 2022, with the setting up of 100 virtual restaurants.
Phuminant Tantiprasongchai, TiffinLabs co-founder and chief executive officer, said the company’s virtual system helps solve problems faced by many small restaurants, that struggle to capitalise on the food delivery business.
“Thailand is one of Southeast Asia’s most attractive markets and offers an important opportunity for us to partner with kitchen owners,” he said.
The model allows kitchens to license the company’s restaurant brands and produce food, while TiffinLabs looks after the marketing, product development, supply chain and delivery-platform partnership side of things.
The aim is to help small and medium-sized enterprises (SMEs) and kitchen owners to generate additional revenue and profits without having to invest in manpower, equipment and rent.
TiffinLabs has 20 brands in its portfolio, including the six it has launched in Thailand, namely Phat Fingers, Southern Soul, Pasta Table, Potato Lab, Yang Dee by Phat Fingers and Phum Jai.
The company said its brands and menus have been developed to taste great 30 to 40 minutes after preparation, making it perfect for delivery. TiffinLabs has also invested heavily in specialised ingredient sourcing, packaging and continuous research to continue improving its offerings.
The company operates in Singapore, Thailand and Malaysia, and has 120, 100 and 30 stores available for delivery, respectively.
Peerapat Chiaprasert, country general manager of TiffinLabs Thailand, said the operation in Thailand has received positive feedback from consumers and kitchen partners. He said since the process was launched, partners have seen a 30% surge in revenue and high consumer ratings.
Thailand’s food delivery market is valued at more than 123.62 billion baht, and TiffinLabs plans to solidify its presence by expanding upcountry. It also aims to make TiffinLabs one of the top 15 brands in the food delivery market by 2025.
