The RTD tea producer Ichitan Group plc from Thailand has revealed interesting figures during the launch of its new marketing campaign “Ichitan Exclusive Japan Trip with 40 Superstars” campaign. According to Ichitan founder and CEO Tan Passakornnatee, the company aims to expand its overseas revenue by 5x in 2017 with the focus on the ASEAN market.
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Overseas revenue to reach THB 500 million in 2017
Overseas sales are expected to reach THB 500 million (USD 14 million) in 2017, up from THB 100 million in 2016. Ichitan is now in Indonesia and Laos, which means the two countries plus other smaller markets contributed THB 100 million in sales in 2016.
In previous occasion in 2015, Tan said the company would only have its own factory in Indonesia if sales there were to reach IDR 380 billion (USD 28.5 million). He did mention in 2017, Ichitan beverages will be produced locally through OEM in Surabaya before a new plant is built. With the USD 14 million export target for 2017, Ichitan may not be having a local production presence in Indonesia anytime soon.
Ichitan received a funding call notice in June 2016 for extra funds for land acquisition and additional working capital, which shows a strong possibility that it will continue to pursue the factory program in Indonesia.
Distributing Ichitan and Yen Yen in Myanmar in June 2017
Ichitan will appoint a local trading company in Myanmar to distribute Ichitan and Yen Yen in June 2017, according to Tan when speaking to Bangkok Post. The reason for investing in Myanmar is because it has a larger population than Thailand and the local consumers are familiar with Thai products.
Focus on healthy drink in Thailand
In Thailand, Ichitan will continue to focus on healthy drinks such as introducing new herbal product lines.
