15-8-2023 (BANGKOK) Over 20 Taiwanese companies, with a focus on skincare, food and drink, haircare, and lifestyle products, are actively exploring new business avenues in Thailand. The recent 2023 Taiwan Expo Thailand provided a platform for firms like Beauty Essentials Ltd, K2-Medical (Thailand) Co, and Shaan Honq Int’l Cosmetics Corp to identify potential product distributors in the country.
Beauty Essentials Ltd, the marketer of Naruko skincare and beauty products, has begun the process of forming local partnerships in Thailand for distributing their beauty products. This move had been delayed for three years due to pandemic-related disruptions. Jeffrey Lee, the director of the overseas sales department at Beauty Essentials, highlighted Thailand’s significant business potential, given its sizable population of 70 million.
While Japanese and South Korean beauty and skincare products often come to mind in the Asian market, Lee emphasized that Taiwan’s skincare and beauty offerings are equally impressive. Beauty Essentials operates under three distinct brands – Naruko, am+pm, and Jing Chen – and its products are available in Taiwan’s Watsons stores and leading e-commerce platforms such as Shopee.
Cathy Liao, a market development specialist at Shaan Honq Int’l Cosmetics Corp, shared that Thailand’s thriving cosmetics industry, marked by a blend of local and international players, presents a promising market for their haircare and styling products. Established in 1985, the company specializes in haircare products and has a significant export presence in countries like Indonesia, Vietnam, Singapore, and Malaysia.
K2-Medical (Thailand) Co, the distributor of the NHH skincare brand, is also strategically expanding its products through Thailand’s retail channels, including beauty chain Eveandboy. The company is considering future expansions into the healthcare sector.
Nick Ni, Director of the Economic Division at the Taipei Economic and Cultural Office in Thailand, highlighted Thailand’s significance as one of Taiwan’s top trading partners. Ni noted that while electronics constitute the majority of investments, Taiwan is now focusing on promoting lifestyle products in areas like beauty, fitness, and healthcare to enhance people’s quality of life.
