Thailand’s Mangpong turns to attraction of cosmetics
In this article (5)
Thailand’s Mangpong 1989 Plc (MPG) has diversified into the beauty and cosmetics retail chain in a bid to cash in on opportunities from the country’s THB200-billion (USD6.15b) cosmetics market. The company sells and rents home entertainment products.
It’s looking for new locations to open Stardust beauty shops. It believes the beauty and cosmetics business will generate healthy sales and a good return on investment as Thai women have a modern lifestyle and prefer to be good looking.
Mangpong has partnered with more than 100 beauty and cosmetics brands to present over 10,000 units from L’Oreal Paris, Anna Sui, Kenzo, Paul Smith and Calvin Klein. The company also plans to launch its own brand in the third quarter this year.
Questions & Answers
Q.What is Mangpong's primary business before entering the beauty market?
What is Mangpong's primary business before entering the beauty market?
Mangpong 1989 Plc sells and rents home entertainment products. The company has diversified into the beauty and cosmetics retail chain to capitalise on the opportunities within Thailand's large cosmetics market.
Q.Why has Mangpong decided to enter the beauty and cosmetics sector?
Why has Mangpong decided to enter the beauty and cosmetics sector?
Mangpong believes the beauty and cosmetics business will generate healthy sales and a good return on investment. This is attributed to Thai women having a modern lifestyle and a preference for looking good.
Q.What is the expected scale of the beauty product offering at Stardust shops?
What is the expected scale of the beauty product offering at Stardust shops?
Mangpong has partnered with over 100 beauty and cosmetics brands, including L’Oreal Paris and Anna Sui. These partnerships will allow them to present more than 10,000 units in their Stardust beauty shops.
Q.When does Mangpong plan to introduce its own brand of cosmetics?
When does Mangpong plan to introduce its own brand of cosmetics?
Mangpong plans to launch its own beauty and cosmetics brand in the third quarter of this year. This is part of their broader strategy to expand their presence in the Thai cosmetics market.
Reader pulse
Is Mangpong’s beauty pivot a smart move?
22,498 votes so far