Old university friends combine skills to launch health and beauty firm

Seeing great business potential both in Thailand and beyond, Up Sure Asset aims to become listed on local and regional stock markets.

The company is currently dealing with potential distributors in promising markets Laos, Vietnam, India, Dubai, and Pakistan to distribute its products there.

Natthamon and Teeraya became friends when studying at Chandrakasem Rajabhat University but they graduated from different faculties. 

Natthamon graduated with a technology background from the Faculty of Science with, while Teeraya has a mass communications degree.

“We set up Up Sure Asset about three years ago and it took a few years for the development [of products] and changing product formulas before our first health supplement product was launched recently. 

“We want our company to be a business organisation that creates happiness to every member of the family. 

“This is in line with the company’s brand concept, which is ‘Love of Life’ or LOL,” said Natthamon, 42, who is president of Up Sure Asset.

She added: “We have seen plenty of room in the marketplace as Thai and other consumers all around the world have become health-conscious. 

Thailand’s health supplement market is worth between Bt30 billion and Bt40 billion and shows strong growth at about 15 per cent per annum. Of the health supplement market, about Bt4 billion relates to male consumers.” 

Up Sure Asset recently launched its first health supplement for men under the Thunta brand. It is targeting upper-middle to high-end consumers age between 18 and 70. The company expects sales of Thunta to reach Bt250 million in the first 12 months – a 5 per cent market share of the Kingdom’s male health supplement market.

Natthamon previously worked for major Thai-based IT solutions provider for 16 years. She said that the experience gave her the ability to penetrate potential routes for online marketing. 

At Up Sure Asset, Natthamon is in charge of production and marketing for health and beauty products, while Teeraya is responsible for sales management as international sales director.

“My wish is to create love and encourage people to care for their health better,” Natthamon said.

The company plans to launch four to five new products next year, including skincare products and health supplements for women.

“We chose local manufacturers in South Korea to produce many innovative products for us as OEMs [original equipment manufacturers] as their government strictly controls the quality standard of any health and beauty products set for export,” Natthamon said. 

“The company however has participated in the inspection and the control process of the production.”

Up Sure Asset expects total sales to reach Bt1 billion in 2019, and up to Bt2 billion in 2022.

“My dream is to list the company on the Market for Alternative Investment or MAI within the next three to five years,” Natthamon said.

Teeraya worked for Anglo Swiss Trading as general manager for 17 years.

She said that in the next five years, it was expected that 30 per cent of Up Sure Asset’s would be contributed by overseas markets, and 70 per cent would come domestically.

She said it was targeted that about 50 per cent of sales would be via online, while 20 per cent would come from drug and beauty chains and 30 per cent from individual drug stores.