Spas to seaweed: the Thai brands banking on Chinese tourists
- Firms like spa chain Let’s Relax and flavoured-seaweed maker Tao Kae Noi have headed to China after becoming a hit with visitors from the mainland
- But experts say only companies that can back up their ambition with financial clout and business acumen can make it in the lucrative market
He is not alone in enjoying Tao Kae Noi. The flavoured seaweed has become such a household name in China that it generated sales of 2 billion baht (US$66.3 million) in 2018, or 40 per cent of its total worldwide sales – making China the biggest export market for its products, according to a Bangkok Post report.
Chief executive Ittipat Peeradechapan has said he expects sales in China to reach 3 billion baht in the next few years.
The brand’s success is seen as a case study for other Thai manufacturers looking to gain popularity among Chinese tourists visiting the Southeast Asian nation, hoping that this would be the gateway to the lucrative Chinese market.
Around 10.5 million people from the mainland visited Thailand in 2018, taking home local products such as dried durian and mango, wafers, beauty creams, massage oil and balms, nasal inhalers, coconut water and latex pillows.