Sappe Public Company Limited or SAPPE announced its 2023 performance with continuous All Time High, reaching the highest ever growth in both the domestic and international markets. The company underlined its business achievement in the past year with sales revenue of 6,052 million baht, increasing by 32.5% and a net profit of 1,074 million baht, up 64.5%. SAPPE also retains its top spots in South Korea and France and has a new destination in England which could create a great impact in the surrounding countries. This helped the SAPPE brand get to the global consumers’ hearts and march towards becoming a “Global Brand” brand as planned. The company is ready to be more proactive in 2024 with a revenue target of 20-25% and more exciting product launches to spice up the market.
SAPPE CEO Ms. Piyajit Ruckariyapong unveiled the 2023 performance that the company had sales revenue of 6,052.6 million baht, growing 32.5% from 4,566.4 million baht in the previous year. The net profit was 1,074.2 million baht, increasing by 64.5% from 653.1 million baht in 2022. This remarkable growth was continuous All Time High achieved with the efforts and efficiency of the management and operations that pushed the brands under SAPPE to be accepted by consumers around the world.
She added that the achievement was a result of the skyrocketing sales growth both in Thailand and around the world as SAPPE was able to continue expanding distribution channels in the foreign markets. The most outstanding market was England with growth of 358%, thanks to Mogu Mogu, the company’s signature fruit juice with coconut jelly which successfully created a wave of “Brand Love” and spread positive influence on the other European countries. Among them, the Netherlands and neighboring countries were able to push the distribution channel into the mainstream retail stores and there are plans to expand further to other retail stores more comprehensively.
As the company intensified its marketing in South Korea to maintain its place as the favorite fruit juice for South Koreans, the brand made 20% growth in the past year. The marketing strategy included implementation of trend culture to access the target consumers such as promoting Mogu Mogu through ZEPETO, the largest metaverse platform in Asia, and making product tie in with K-Dramas on Netflix as well as well as the program run by BTS, the global influential boy band from South Korea. This made the proportion of international sales volume reach 81% and domestic sales 19% of the total sales revenue.
The SAPPE CEO added that the company is determined to streamline the operations to achieve sustainable growth in all dimensions. The 2024 target growth is set at 20-25% from the past year with key strategies to fully accelerate an expansion of international market to carry on the success, particularly in Europe and America. SAPPE has prepared marketing plans to create enjoyment and to continue to reach more global consumers.
For the domestic market, SAPPE is preparing to rebrand its “Sappe Beauti Drink” which is the favorite functional drink in Thailand, and the process is expected to become clear in the first quarter of 2024. Apart from this, the company also plans to develop and launch new products of more than 20 SKUs both in the domestic and foreign markets to ultimately respond to the consumers’ new lifestyle. Also, SAPPE is conducting mechanical tests in the new production line which will increase the production capacity by approximately 25% or 44,000 tons per year. The commercial production is expected to commence in late Q1 to accommodate the orders from both the domestic and international markets.
