{"id":156544,"date":"2025-06-26T08:59:03","date_gmt":"2025-06-26T01:59:03","guid":{"rendered":"http:\/\/www.thestorythailand.com\/?p=156544"},"modified":"2025-06-26T08:59:06","modified_gmt":"2025-06-26T01:59:06","slug":"srichand-surpasses-thb-1-6-billion-in-revenue-rising-to-no-1-in-thai-skincare-market","status":"publish","type":"post","link":"https:\/\/www.thestorythailand.com\/en\/srichand-surpasses-thb-1-6-billion-in-revenue-rising-to-no-1-in-thai-skincare-market\/","title":{"rendered":"SRICHAND surpasses THB 1.6 billion in revenue, rising to No. 1 in Thai skincare market"},"content":{"rendered":"\n
Srichand United Dispensary Co Ltd, the manufacturer and distributor of the Thai beauty brand \u2018SRICHAND\u2019, which has been an integral part of Thai lives for over 76 years, along with its subsidiary brand \u2018sasi\u2019, has summarised four key achievements from 2021 to 2024.<\/p>\n\n\n\n
These accomplishments include continuous growth that culminated in a record revenue of 1.6 billion baht\u2014securing the top spot among Thai skincare brands. The company has also revealed its long-term brand-building strategy under the concept of a \u2018Purposeful Brand\u2019, with the ambition of becoming an internationally recognised Thai brand that reflects Thai pride. This goal serves as the foundation for strategies such as promoting a \u2018Modern Classic Thainess\u2019 image, carefully selecting presenters, enhancing product quality, and shaping a strong organisational culture.\u00a0<\/p>\n\n\n\n
SRICHAND continues to affirm its belief in the potential of T-beauty\u2014now recognised both domestically and internationally. Even Japan has embraced the Thai makeup trend known as \u2018Suwai Meiku\u2019. The company also sees vast potential to penetrate markets across ASEAN and broader Asia, with a target to increase the share of international sales to 10\u201315% within three years\u2014capitalising fully on this \u201cDawn of Transformation for T-beauty\u201d.<\/p>\n\n\n\n
Rawit Hanutsaha<\/strong>, Chief Executive Officer of Srichand United Dispensary Co Ltd, stated, \u201cBetween 2021 and 2024, despite persistent economic challenges following the COVID-19 pandemic, Srichand United Dispensary was able to adapt effectively and turn adversity into an opportunity for growth. Thanks to consumer trust, the company achieved over 1 billion bahtin total sales since 2023, with consistent double-digit growth recorded each year from 2021 to 2024. Notably, the compound annual growth rate (CAGR) for the company\u2019s two core brands\u2014SRICHAND and sasi\u2014stood at an impressive 51% and 53% respectively between 2021 and 2024. This performance reflects the company\u2019s strong upward momentum driven by unwavering consumer confidence.\u201d<\/p>\n\n\n\n<\/figure>\n\n\n\n
Summary of Four Key Successes of Srichand United Dispensary Co Ltd (2021-2025)<\/h4>\n\n\n\n
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SRICHAND\u2019s strength extends far beyond its iconic powder\u2014its product excellence spans all categories<\/strong>\n
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Growth by product category: +11% in Makeup, +148% in Skincare, and +73% in Sunscreen<\/li>\n\n\n\n
In the makeup category, the best-selling product is the \u2018Bare to Perfect Translucent Powder\u2019 (10 g), which has ranked \u21161 in the loose powder segment in Thailand from January 2023 to April 2025, according to NielsenIQ Thailand.<\/li>\n\n\n\n
SRICHAND entered the skincare market in 2021. By 2024, the company had achieved year-on-year growth of 117% in the skincare segment (compared to 2023), and it has set a sales growth target of 45% in 2025.<\/li>\n\n\n\n
In the skincare category, the top-performing product is the SRICHAND \u2018Skin Moisture Burst Gel Cream Sachet\u2019 (10 ml), which has held the No. 1 position in the moisturiser for face segment in Thailand from January 2024 to April 2025, based on NielsenIQ Thailand data.<\/li>\n\n\n\n
SRICHAND has become the No. 1 Thai brand in the category of Moisturiser for Face from January 2024 to April 2025. During this period, its growth rate stood at 79%\u2014significantly higher than the market average growth of 3.44%, as reported by NielsenIQ Thailand 2025.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<\/figure>\n\n\n\n
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The launch of the \u2018sasi\u2019 brand, targeting the younger generation<\/strong>\n
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Established in 2017, sasi was created to meet the needs of younger consumers who value both affordability and fashion, while also representing the hopes and dreams of a new generation.<\/li>\n\n\n\n
The brand\u2019s positioning is: \u2018The most value for money yet trendy beauty & lifestyle brand\u2019\u2014a beauty and lifestyle brand that is both accessible and stylish.<\/li>\n\n\n\n
At the heart of \u2018sasi\u2019 is product design that resonates with youth preferences. For example, the Kiss & Blush Multifunction Cosmetics line was developed for convenience, offering a single product that can be used on the eyes, cheeks, and lips. Meanwhile, the Acne Sol Collection was designed specifically to address teenage acne concerns. Across the makeup range, the brand is known for its bold, standout colour palette.<\/li>\n\n\n\n
sasi has achieved a compound annual growth rate (CAGR) of over 50% per year from 2021 to 2024.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
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Srichand United Dispensary Co Ltd has achieved consistent double-digit growth year-on-year, surpassing the 1 billion baht revenue milestone<\/strong>\n
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Revenue in 2021: 520 million baht<\/li>\n\n\n\n
Revenue in 2022: 717 million baht (+42.02%)<\/li>\n\n\n\n
Revenue in 2023: 1,019 million baht (+41.92%)<\/li>\n\n\n\n
Revenue in 2024: 1,600 million baht (+58.98%)<\/li>\n\n\n\n
Target revenue for 2025: more than +30% to +40%<\/li>\n\n\n\n
Total revenue is currently generated through a distribution mix of 90% offline sales and 10% online sales.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
International Market Expansion: Positive Signals from Laos and Japan<\/h4>\n\n\n\n
SRICHAND has successfully expanded into the Lao market, achieving an impressive average annual growth rate of 112.5% between 2021 and 2024. Its most popular products in Laos fall under the skincare category, including the Moisture Burst Series, sunscreen, loose powder, and foundation. The brand has built strong recognition in the market by supporting major national-level events, such as sponsoring the Miss Universe Laos pageant from 2022 to 2024, and Laos Fashion Week 2024. SRICHAND has also appointed a local brand presenter\u2014@nethdao_phengsavanh a.k.a. Nethdao, a well-known Lao influencer\u2014to strengthen its brand presence in the country.<\/p>\n\n\n\n
In addition, promising signs have emerged from the Japanese market. At present, SRICHAND\u2019s powder products are available offline in over 2,000 retail stores nationwide across Japan. The brand\u2019s distinctive design has also attracted attention from BANDAI, a renowned Japanese toy manufacturer, which acquired the rights to SRICHAND’s powder packaging for use in capsule toy or \u2018gachapon\u2019 machines\u2014selecting all six versions of the powder currently sold in Japan.<\/p>\n\n\n\n
Srichand as a Purposeful Brand with a Mission to Represent Thai Pride<\/h4>\n\n\n\n
The success SRICHAND has achieved from 2021 to 2025 stems from its identity as a Purposeful Brand\u2014striving to become a globally recognised Thai brand that Thais can be proud of.<\/p>\n\n\n\n
This aspiration has driven four core strategies:<\/p>\n\n\n\n
1. Preserving the brand\u2019s \u2018Modern Classic Thainess\u2019 identity with pride<\/strong><\/p>\n\n\n\n
From the very beginning, SRICHAND has consistently embraced its Thai heritage\u2014evident even in its unchanged name. During the rebranding era, the company redefined this heritage with a modern flair, a turning point that continues to guide SRICHAND\u2019s brand DNA today. The inscription \u2018SRICHAND \u2013 BANGKOK 1948\u2019 featured on its products pays homage to the brand\u2019s roots, highlighting its origin in both time and place. This celebration of Thai identity is shared across the group, including with its sister brand, sasi, ensuring that consumers not only use Thai products but take pride in them too.<\/p>\n\n\n\n
2. Selecting brand presenters who embody contemporary Thai identity<\/strong><\/p>\n\n\n\n
SRICHAND and sasi carefully choose brand ambassadors who reflect modern Thai values\u2014individuals whose ideas, talents, and image are relatable and inspiring, reinforcing pride in being Thai.<\/p>\n\n\n\n
Current presenters for SRICHAND include: Pimchanok \u2018Baifern\u2019 Luevisadpaibul (Base Makeup), Maylada \u2018Bow\u2019 Susri (Sunscreen), Kunpimook \u2018BamBam\u2019 Bhuwakul (SRICHAND IN-SKIN).<\/p>\n\n\n\n
For sasi, the brand ambassadors are: Supassara \u2018Kao\u2019 Thanachat (Face of sasi \u2013 Lipstick & Eyebrow), and PROXIE (Face of sasi \u2013 Loose Powder & Foundation).<\/p>\n\n\n\n
3. Product development to meet international standards<\/strong><\/p>\n\n\n\n
SRICHAND has invested significantly in quality and R&D, beginning with selecting manufacturing partners that meet the company\u2019s stringent standards. Its formulation process draws on market trends and research, incorporating advanced Active Ingredients and technology-backed innovations. Each product undergoes extensive testing to ensure it delivers on its claims. Examples of standout innovations include:<\/p>\n\n\n\n
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Skincare:<\/strong> Incorporation of Glyceryl Glucoside (GG), a new-generation moisturising agent, combined with well-known ingredients like Sodium Hyaluronate and CICA in the Skin Moisture Burst Series.<\/li>\n\n\n\n
Base Makeup:<\/strong> Hybrid Foundation in the Skin Booster Series, formulated with up to 86% skincare active ingredients, placing it on par with top-tier global cosmetic brands.<\/li>\n<\/ul>\n\n\n\n
4. Fostering a corporate culture that attracts like-minded individuals<\/strong><\/p>\n\n\n\n
Srichand United Dispensary Co Ltd cultivates a workplace culture built on \u2018Resilience\u2019, empowering employees to thrive amidst rapid change and maximise their potential. This culture is underpinned by four pillars: Outcome \u2013 Delivering results that meet or exceed objectives; Accountability \u2013 Taking full responsibility for one\u2019s work while supporting colleagues; Adaptability \u2013 Staying open and responsive to new ideas and challenges; and Speed \u2013 Acting swiftly\u2014executing quickly and correcting mistakes just as promptly.<\/p>\n\n\n\n
Moreover, the company offers inclusive and progressive benefits, such as: Paid maternity leave (up to 6 months), Leave for supporting a pregnant or postpartum spouse (up to 1 month), Gender affirmation surgery leave (up to 1 month), Bereavement leave (\u201cmental wellness break\u201d) for up to 10 days per year, Leave for spiritual or religious practice, and more.<\/p>\n\n\n\n
This strong emphasis on people has earned SRICHAND widespread recognition as an employer of choice among the younger generation. In fact, the company ranked \u21161 out of 55 firms in the QMAC: QGEN Thailand Most Attractive Companies 2025 survey.<\/p>\n\n\n\n
Confidence in T-Beauty (Thai Beauty) and Expansion into International Markets<\/h4>\n\n\n\n
Rawit stated, \u201cAs a company deeply rooted in Thailand\u2019s beauty industry for over 76 years, we continuously monitor emerging beauty trends to refine and evolve our brand. In recent years, the popularity of \u2018T-Beauty\u2019\u2014or Thai Beauty\u2014has grown significantly, both domestically and internationally. This rising trend, propagated through Thai dramas, series, and music, has fuelled demand for Thai beauty products. Not only are local consumers increasingly embracing homegrown brands, but international tourists are also purchasing Thai beauty products to take home. The growing appeal of Thai brands abroad\u2014evident from SRICHAND\u2019s promising performance in the Lao market\u2014combined with Thailand\u2019s strong manufacturing capability, reinforces our belief that T-Beauty has the potential to become a powerful soft power for the country.\u201d<\/p>\n\n\n\n
The potential of T-Beauty is reflected in the growing trust in Thai brands:<\/p>\n\n\n\n
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Confidence in Thai beauty products continues to rise among Thai consumers, as seen in the consistent expansion of the Thai beauty market\u2014mirrored in SRICHAND\u2019s 58.98% year-on-year sales growth in 2024, reaching 1.6 billion baht.<\/li>\n\n\n\n
In Japan, the \u2018Suwai Meiku\u2019 trend\u2014Thai-style makeup\u2014is gaining popularity. It features semi-matte foundation, slightly brushed-up natural brows, soft earth-toned eyeshadow, eyeliner with lengthened lower lashes, semi-matte lip colours, and healthy-looking oval blush.<\/li>\n\n\n\n
The phrase \u2018Made in Thailand\u2019 is increasingly associated with quality and reliability, particularly within ASEAN and Asian markets, where Thai brands are seen as high-quality, compliant with global standards, and accessible in terms of pricing.<\/li>\n<\/ul>\n\n\n\n
As T-Beauty demonstrates its global potential, SRICHAND is seizing this momentum to expand its international business. The company aims to establish itself as a regional brand, with a primary focus on the ASEAN and wider Asian markets. The international strategy centres on building strong partnerships with capable local distributors\u2014those with the expertise to drive both offline and online sales. Beyond distribution and sales, SRICHAND also places high importance on brand-building and awareness to ensure long-term success in the region.<\/p>\n\n\n\n
The company has set a target to increase international market sales to account for 10\u201315% of total revenue within three years.<\/p>\n\n\n\n
With its strong foundations and growing international recognition, Srichand United Dispensary Co Ltd is well-positioned to support the rise of \u2018T-Beauty\u2019 as a soft power for Thailand. This marks the dawn of a new era, and SRICHAND is committed to carrying the essence of \u2018Modern Classic Thainess\u2019 to the global stage through high-quality products. Ultimately, this effort supports the brand\u2019s \u2018Purposeful Brand\u2019 mission\u2014to become a globally recognised Thai brand that brings pride to the Thai people,\u201d concluded Rawit.<\/p>\n\n\n\n
![\"Srichan](\"https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2025\/06\/Srichan-growth.jpg\")
<\/figure>\n\n\n\n![\"Sasi-Makeup\"](\"https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2025\/06\/Sasi-Makeup.jpg\")
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