Tanachira Retail Corporation Co, the importer and distributor of lifestyle fashion brands including Harnn, Marimekko and Pandora, is eyeing the acquisition of healthy lifestyle food & beverage operators to help reduce business risks and sustain the company’s long-term sales growth.
Tanapong Chirapanidchakul, Tanachira’s Chief Executive, said the company is exploring opportunities to acquire food and beverage firms and is seeking know-how to support its expansion into the sector.
“Our overall business suffered a lot from the Covid-19 crisis, with sales in 2021 plunging by 50 per cent from a year before,” said Mr Tanapong. “Whenever the economy is in a bad condition, people generally opt to spend their money on food rather than luxury products, which will be the first items to be cut.”
According to Mr Tanapong, the company moved into the food and beverage business several weeks ago when it invested five million baht to open the world’s first Marimekko pop-up café in Bangkok’s Central Embassy mall.
The company plans to open two more permanent cafes in the city next year. It expects Marimekko to account for 25 per cent of total sales, up from 16 per cent now, once two more pop-up cafés open next year. There are currently 10 Marimekko lifestyle stores in Thailand.