Juice-maker Tipco works to become a more global brand via quality, innovation
THAI juice maker Tipco says it is ready to expand more fully into both the domestic and international markets this year as well as entering the global premium market by focusing on quality and innovation to appeal to health-conscious consumers.
Managing director Ekaphol Pongstabhon said the company expected to increase the sales contribution of exports from 50 per cent to 55 per cent in five years as it focuses on high-potential markets, primarily in Asia and the Middle East.
He said Tipco aimed to increase the number of countries it exports to from 30 currently to 50 within five years.
Tipco’s major export destinations are still Asian countries, largely because of its products’ limited shelf life, as the company does not use preservatives.
Its top export markets are the Philippines, South Korea, China, Singapore, and Middle Eastern countries such as the United Arab Emirates and Jordan, which contribute more than 50 per cent of export sales and post 20-per-cent growth every year.
“We aim to grow constantly in overseas markets in 2017 as there is more room to grow for the company’s various products,” Ekaphol said.
“We are also studying possibilities about the expansion of our manufacturing facilities. However, the details of such an expansion will be revealed later,” he added.
Tipco posted 13-per-cent growth in total sales last year. The company has projected its growth this year to be about the same as in 2016.
Processed fruits contribute about 45 per cent of sales, while another 45 per cent is from juice and mineral water, and 10 per cent from retail outlets and other products such as food-supplement and medical ingredients.
Continuing to enhance awareness of its brand, penetrating new markets and creating more product innovations are very important factors for the company to become a global brand in the future.
Tipco’s portfolio comprises four core product lines. Its processed fruits are mostly exported to North America and Europe. Its liquid products comprise Tipco fruit juice and Aura mineral water. Its agricultural business includes bio-extracts from plants and fruits for use in medicines and food supplements. Finally, its retail outlets include Squeeze Juice Bar, a premium shop for fruit juices and healthy snacks, August organic fusion restaurants, and snack bars.
“During the next three years, we will continue to focus on enhancing the Tipco brand by launching effective marketing strategies, adding more product lines and new flavours according to the changing behaviour of customers,” Ekaphol said.
He added that the company would keep focusing on creative marketing along with promotional sales activities, including roadshows at hypermarkets, local communities, schools and universities to create brand engagement between consumers and the company. This includes expanding its sales distribution and participating in CSR (corporate social responsibility) activities throughout the year.
