Mr. Suwin Kraibhubes, Chief Executive Officer of Beauty Community Public Company Limited (BEAUTY) has revealed that BEAUTY’s total revenue in 3Q19 were THB 456.98 million, decreased 57.75% YoY and decreased 14.04% QoQ with a net profit of 50.85 million baht. Meanwhile, the revenue from 9-month period was THB 1,537.32 million and the net profit was 167.17 million baht.
The increase in net profit in 3Q19 when compared to the previous quarter was due to the adjustment in BEAUTY’s marketing and operating strategy along with a good cost management.
The decrease in total revenue was due to the low season in the cosmetic business while the Chinese tourists also decreased. Although China had strict policy on carrying import products, the company had appointed distributors as a channel to import BEAUTY’s product instead.
The company also focused on the development of effective distribution channels in order to reach customers both domestic and overseas by developing the model of new retail stores to become more multi-brands. As well as driving more growth into Modern Trade and E-Commerce channels.
BEAUTY adjusted the strategy by adding new channels in the Chinese market and expanding to international market more than 10 other countries to reduce the risk of relying on one market. Which has been changed and signed since the end of last year.
As for the fourth quarter, the company expected to have continuous growth as it would be a high season for BEAUTY due to the increase of the Chinese tourists as well as government’s stimulus plan at boost Thai economy at year end.