Saha Group Forges Strategic Alliance with China's Yuyuan to Expand ASEAN Consumer Footprint
Thai conglomerate partners with Shanghai retail giant to develop beauty, fashion, F&B and jewellery businesses as Thailand-China ties mark 50-year milestone
- Thailand's Saha Group has formed a strategic partnership with China's Shanghai Yuyuan Tourist Mart to expand their consumer businesses across Southeast Asia, using Thailand as a hub.
- The collaboration will focus on four key sectors: cosmetics, fashion, food and beverage, and gold jewellery.
- Under the agreement, Saha Group will use its manufacturing and distribution network to introduce Yuyuan's products in Thailand, while Yuyuan will launch Saha's brands in the Chinese market.
- The partnership aims to combine Saha's established supply chain with Yuyuan's retail power and innovation to achieve mutual growth and enhance market share in both regions.
Thai conglomerate partners with Shanghai retail giant to develop beauty, fashion, F&B and jewellery businesses as Thailand-China ties mark 50-year milestone.
Saha Group has signed a strategic partnership with Shanghai Yuyuan Tourist Mart (Group) Co., Ltd., one of China's largest consumer conglomerates, in a deal that positions Thailand as a gateway for bilateral trade expansion across Southeast Asia.
The memorandum of understanding encompasses four key sectors—cosmetics, fashion, food and beverage, and gold jewellery—with both parties committing to integrate their respective strengths in supply chain management, manufacturing, distribution and product innovation.
Complementary Capabilities
Thamarat Chokwatana, President and Executive Chairman of ICC International Public Company Limited, which operates under the Saha Group umbrella, described the agreement as transformative for the Thai conglomerate's regional ambitions.
"This collaboration represents far more than a commercial arrangement—it marks a pivotal moment in diversifying our business portfolio and enhancing our capacity to deliver international-standard products to Thai consumers," Thamarat said.
He emphasised that Saha Group's certified manufacturing facilities, established supply chains and nationwide retail network would facilitate Yuyuan's market entry in Thailand, whilst both organisations shared commitments to sustainability and long-term value creation.
Under the partnership framework, Saha Group will oversee supply chain operations, production, distribution and retail access throughout Thailand, ensuring effective market penetration and consumer reach.
Yuyuan Group will reciprocally leverage its extensive retail infrastructure and distribution capabilities in China to introduce Thai-manufactured goods to Chinese consumers.
BSC Cosmetology, Saha Group's cosmetics brand, alongside select fashion labels from the conglomerate's portfolio, have been designated as the initial products for the Chinese market.
Yuyuan will simultaneously introduce technology-driven brands and innovations to Thailand whilst collaborating on product development tailored to regional consumer preferences across all four business categories.
Market Expansion Strategy
Both companies anticipate the partnership will generate significant mutual growth through expanded market access, operational synergies and enhanced capabilities in manufacturing, product design and innovation—ultimately strengthening revenue streams, market share and competitive positioning.
"This agreement establishes crucial connections between Thailand's consumer industry and international standards," Thamarat added. "It creates the foundation for a new ecosystem linking Thai and Chinese consumer markets, reinforcing Thailand's position as ASEAN's consumer hub."
He noted that Yuyuan's innovation capabilities and brand strength aligned strategically with Saha Group's mission to elevate product quality and provide global-standard goods to Thai consumers.
Diplomatic Context
Diego Hu, Focus Global Partner and Vice President of Yuyuan Inc., highlighted the partnership's timing, coinciding with the 50th anniversary of Thailand-China diplomatic relations in 2025—lending symbolic and economic significance to the collaboration.
"Thailand represents one of Southeast Asia's most promising consumer markets and serves as a strategic platform for regional expansion," Diego stated. "Partnering with Saha Group, with its robust manufacturing expertise and comprehensive distribution network, enables us to introduce our products, innovations and Eastern-inspired beauty concepts to Thai consumers."
He expressed confidence that the agreement marked the beginning of sustained, mutually beneficial growth between the organisations.
Cultural Engagement
Earlier this year, Yuyuan Group deepened its cultural presence in Thailand by bringing the Yuyuan Lantern Festival to Bangkok.
The event, which blended Thai and Chinese traditions, demonstrated the company's commitment to building emotional connections with Thai audiences whilst advancing its global development strategy.
Shanghai Yuyuan Tourist Mart (Group) Co., Ltd. operates as one of China's leading consumer business groups and serves as the primary platform for Fosun's "Happiness Ecosystem" business segment.
The conglomerate owns more than 19 heritage Chinese brands and maintains diversified operations spanning jewellery, fashion, cosmetics, restaurants, spirits and health products.
The group pursues a strategy of promoting Oriental Aesthetics globally whilst integrating technology and smart manufacturing to deliver contemporary, high-quality consumer experiences.
The partnership aligns with Yuyuan's "Bring In & Go Global" strategy, which focuses on introducing international products and innovations to Chinese consumers whilst expanding Chinese brands into overseas markets.
