Officially introduced to food industry specialists at THAIFEX World of Food Asia 2019, Southeast Asia’s largest food and beverage show, Dusit Foods outlined its strategy to invest in food-related companies with strong growth potential.
It also announced plans to market its own premium instant food brand, named Khong Thai, which will be produced in partnership with world-renowned Australian chef David Thompson. It will be targeted mainly to international markets.
By pursuing organic and non-organic growth, Dusit Foods aims to achieve Bt400 million in revenue by the end of this year, and is targeted to reach Bt1 billion in revenue by 2021.
Expanding on DTC’s vision to uniquely deliver gracious Thai-inspired hospitality to the world, Dusit Foods aims to “Bring Asia to the World” through Thai and Asian food products, said a press release on Tuesday.
The products will reflect four key pillars of sustainable production – healthy, natural, organic and supporting local communities – while also leveraging the parent’s strong reputation for delivering high quality experiences, particularly in Asia, where most of its hotels and resorts are located, noted the release.
To expedite its growth, Dusit Foods recently invested in two companies with a proven track record in the food industry. The first was the acquisition of a 26 per cent stake in NR Instant Produce Co Ltd (NRF), a leading manufacturer and exporter of instant food and beverages with more than 50 brands. The second was taking a 51 per cent equity stake in Epicure Catering (ECC), the leading provider of catering services to international schools in Thailand.
Dusit Foods plans to increase its holdings in ECC to 70 per cent with further investment in early 2020.
As for its own products, Dusit Foods plans to establish Khong Thai in the international market. The products will initially be aimed at white tablecloth restaurants, with a view to targeting key food suppliers later.
The initial product line-up includes four premium recipes, namely Green Curry, Massaman Curry, Yellow Curry and Laksa. Each dish comes in two styles – ‘Simmer Sauce, ready to cook,” and “Concentrated Paste,” which, depending on the recipe, is designed to be combined with coconut milk and/or water.
Popular recipes such as Pad Thai Sauce, and traditional seasonings like Sri Racha, fish sauce, white soy sauce, and oyster sauce are all slated to be introduced soon. The product line- up is expected to comprise at least 20 different items within the next two years.
“By leveraging and complementing our core operations in hospitality, we are confident that Dusit Foods will be a fruitful venture for our company,” said Suphajee Suthumpun, the group CEO for Dusit International.
“The return on investments will be a key driver in achieving our target of Bt400 million from food business this year. And these investments, coupled with the introduction of our own food products, will be another important factor in our sustainable and profitable growth as a company.”
Jate Sopitpongstorn, the managing director of Dusit Foods Co Ltd, said, “We are delighted to work with celebrated Australian chef David Thompson to develop the recipes for Khong Thai. His passion for authentic Thai food is well known, especially as he is behind the success of Michelin-starred Thai restaurants both in Thailand and abroad. Our initial marketing mix is 90 per cent overseas and 10 per cent domestic, with a particular focus on the United States because of the large consumer base and popularity of Thai food.”
The company is planning to penetrate both online and offline markets, reaching directly to chefs, food entrepreneurs and food services operators, he said, adding, “We will launch Khong Thai in the US this September, before expanding to England, Germany, France and other key European markets.”
Dusit Foods will be present at THAIFEX World of Food Asia 2019 (Impact Muangthong Thani, Booth 11RR55) during May 28 to June 1. Khong Thai products will be introduced in a cooking demonstration by chef David Thompson, together with leading chefs from Dusit Thani College and Le Cordon Bleu Dusit Culinary School.
