Thailand is the second market after Japan for the launch of Kanebo skincare brand and in a reshuffle, the company will merge all its other premium brands, including Impress, under the Kanebo brand. Lunasol, however, will still remain the company’s flagship for make-up products.
This move is in line with a policy set by Kanebo Cosmetics to develop a single global brand and raise strong awareness of Kanebo products. Kanebo Cosmetics was established nearly 80 years ago.
Yasuhiro Taguro, president of Kanebo Cosmetics (Thailand), said that according to a study conducted by its headquarters, most consumers are more familiar with Kanebo and its products than other similar brands.
“Launching Kanebo as our global brand will bring us closer to consumers. We want the name Kanebo to be easily understood and loved by all,” Taguro said.
He added that Kanebo was relaunched in Japan in May and skincare products under the brand have been placed on shelves in Japan since September 15.
After the launch of the brand in Thailand yesterday, Kanebo skincare products will be available locally by the end of October, with up to 100 different Kanebo products being introduced in the local market by 2018.
Kanebo was founded well over a century ago, back in 1887, as a trader of cotton, while Kanebo Cosmetics entered the Thai market in 2001.
Taguro said that for Thailand, the company has set new Key Performance Indicators (KPIs) following the brand reshuffle and hopes to double its market share in the Kingdom’s Bt31-million market for premium cosmetics. Kanebo’s local market share at present stands at just 1.1 per cent, but by 2020, it aims to rise from number 14 to a top-10 player.
According to Euro Monitor, Thailand’s overall cosmetics market is worth about Bt173 billion, of which Bt31 billion belongs to the premium segment. However, with an expected slowdown in the premium cosmetics segment this year, the competition is becoming more intense as major players launch big promotional campaigns to maintain their market share.
“We also want to increase our overall annual sales in Thailand from Bt600 million targeted for this year to about Bt1 billion by 2020 of which 60 to 70 per cent will be contributed by the Kanebo brand,” he said.
“We want to achieve our aspiration to be a company that encourages women to enjoy their beauty. The creation of Kanebo as our new brand is in line with the company’s commitment to global branding and the deepening of company’s life-long assets. In Thailand, we want Kanebo to be in the heart of Thai customers. We will spend the next three years strengthening the Kanebo brand in Thailand and boost our brand awareness by at least 50 per cent,” Taguro explained.
He said that over the next three years, the 70 or so Kanebo sales counters in major department stores in Thailand will be gradually given a facelift and renovated in line with the new brand concept.