Ichitan Group launches T247 energy drink

The company targets 10-per-cent of the energy-drink market and sales of Bt3 billion within five years. 
Tan Passakornnatee, chairman and chief executive officer of Ichitan Group, said the group had set up Ichitan Power Co to run the new business with a Bt200-million budget for T247 marketing activities.
Initially, T247 will be aimed at working people 20-30 years old. 
“We have to balance our [product] portfolio, and not market only existing products. We emphasise quality products through innovation. From now on, our focus will be shifted more towards health-consciousness. Introducing T247 is an answer for Thai people and one more new product will be launched late this year,” Tan said.
The energy-drink market is valued at Bt35 billion, led by M150 with a 57-per-cent share. Carabao holds 21.2 per cent of the market and Kratingdaeng 16 per cent.
Ichitan’s green-tea drink is the main product in its portfolio, and it aims to add more balance with launches of two or three new products each year.
This year’s summer promotion was not as successful as expected, which the company believes was partly because it was marketing products in too many sizes, which had an impact on sales of its ready-to-drink green tea in 420-millilitre packaging. Therefore, Ichitan plans to take the 290ml size off the market for higher business efficiency. 
Ichitan Group will also expand its business outside Thailand, expecting to have a footprint in the entire CLMV subregion (Cambodia, Laos, Myanmar and Vietnam) by the end of this year. 
The company plans to begin its marketing activities in Myanmar this August. It has already made moves into Cambodia, Laos and Vietnam.
Its joint venture in Indonesia has started to see high sales, totalling 2 million cases in the first five months, against its initial target of 3 million cases for the whole of 2017.