Pañpuri plans global expansion: 50 new flagship stores by 2029!

Pañpuri plans global expansion: 50 new flagship stores by 2029!

Pañpuri, the Thai luxury brand specializing in niche perfumes and wellness lifestyle, is planning impressive globalization with an investment of over 500 million baht. Loud thaipr.net The company will open its first flagship store in the Takashimaya Shopping Center in Singapore early next year, with the investment for this location alone already amounting to over 10 million baht. The store, Vanda Atelier, is inspired by Singapore's national flower and is intended to lay the foundation for global expansion.

Big plans for the future

Pañpuri's ambitious goal is to open over 50 new locations internationally in the next four years. Sales are expected to increase to 3 billion baht by 2029. Next year, sales are forecast to reach 1,110 million baht and a remarkable growth of 92% compared to last year, while a net profit of 177 million baht is on the horizon. CEO Warawit Siripak sees the company on a strong course and has formulated a clear expansion strategy. This includes not only market development, but also the introduction of innovative products in the area of ​​health and lifestyle as well as the expansion of spa management in collaboration with renowned hotels.

Successful market strategy

Pañpuri already has an international presence in 15 countries, including points of sale in well-known department stores such as Isetan Shinjuku in Japan and K11 Musea in Hong Kong, such as nationthailand.com reported. The recent acquisition by Kosé strengthens the brand's position as an authentic luxury wellness brand from Asia. This partnership is seen as a significant step in supporting Pañpuri's mission to spread holistic wellness globally. Panaikorn Chartikavanij, Managing Partner of Lakeshore Capital, is optimistic about the company's future development and emphasizes the trust in the partnership with Kosé.

Growth in the luxury goods market

The market conditions for luxury goods in Thailand are promising. Loud mordorintelligence.com The market size is expected to grow at a CAGR of 6.15% during the forecast period from 2024 to 2029. Younger consumers are increasingly placing more value on sustainability and favoring socially responsible brands, signaling a clear shift in consumption habits. Digital sales channels are also becoming more important. 83% of Thais have increased their reliance on online shopping since the start of the pandemic.

With a strong focus on innovation and growth, Pañpuri is well positioned to benefit from this positive market environment. Future expansion, particularly in sustainable products and services, could be the key to their continued success in the international luxury goods market.