Thailand’s Mangpong 1989 Plc (MPG) has diversified into the beauty and cosmetics retail chain in a bid to cash in on opportunities from the country’s THB200-billion (USD6.15b) cosmetics market. The company sells and rents home entertainment products.
It’s looking for new locations to open Stardust beauty shops. It believes the beauty and cosmetics business will generate healthy sales and a good return on investment as Thai women have a modern lifestyle and prefer to be good looking.
Mangpong has partnered with more than 100 beauty and cosmetics brands to present over 10,000 units from L’Oreal Paris, Anna Sui, Kenzo, Paul Smith and Calvin Klein. The company also plans to launch its own brand in the third quarter this year.
(Source: Bangkok Post)