Srichand United Dispensary Co Ltd, the manufacturer and distributor of the Thai beauty brand ‘SRICHAND’, which has been an integral part of Thai lives for over 76 years, along with its subsidiary brand ‘sasi’, has summarised four key achievements from 2021 to 2024.
These accomplishments include continuous growth that culminated in a record revenue of 1.6 billion baht—securing the top spot among Thai skincare brands. The company has also revealed its long-term brand-building strategy under the concept of a ‘Purposeful Brand’, with the ambition of becoming an internationally recognised Thai brand that reflects Thai pride. This goal serves as the foundation for strategies such as promoting a ‘Modern Classic Thainess’ image, carefully selecting presenters, enhancing product quality, and shaping a strong organisational culture.
SRICHAND continues to affirm its belief in the potential of T-beauty—now recognised both domestically and internationally. Even Japan has embraced the Thai makeup trend known as ‘Suwai Meiku’. The company also sees vast potential to penetrate markets across ASEAN and broader Asia, with a target to increase the share of international sales to 10–15% within three years—capitalising fully on this “Dawn of Transformation for T-beauty”.
Rawit Hanutsaha, Chief Executive Officer of Srichand United Dispensary Co Ltd, stated, “Between 2021 and 2024, despite persistent economic challenges following the COVID-19 pandemic, Srichand United Dispensary was able to adapt effectively and turn adversity into an opportunity for growth. Thanks to consumer trust, the company achieved over 1 billion bahtin total sales since 2023, with consistent double-digit growth recorded each year from 2021 to 2024. Notably, the compound annual growth rate (CAGR) for the company’s two core brands—SRICHAND and sasi—stood at an impressive 51% and 53% respectively between 2021 and 2024. This performance reflects the company’s strong upward momentum driven by unwavering consumer confidence.”
Summary of Four Key Successes of Srichand United Dispensary Co Ltd (2021-2025)
- SRICHAND’s strength extends far beyond its iconic powder—its product excellence spans all categories
- Growth by product category: +11% in Makeup, +148% in Skincare, and +73%
in Sunscreen - In the makeup category, the best-selling product is the ‘Bare to Perfect Translucent Powder’ (10 g), which has ranked №1 in the loose powder segment in Thailand from January 2023 to April 2025, according to NielsenIQ Thailand.
- SRICHAND entered the skincare market in 2021. By 2024, the company had achieved year-on-year growth of 117% in the skincare segment (compared to 2023), and it has set a sales growth target of 45% in 2025.
- In the skincare category, the top-performing product is the SRICHAND
‘Skin Moisture Burst Gel Cream Sachet’ (10 ml), which has held the No. 1 position in the moisturiser for face segment in Thailand from January 2024 to April 2025, based on NielsenIQ Thailand data. - SRICHAND has become the No. 1 Thai brand in the category of Moisturiser
for Face from January 2024 to April 2025. During this period, its growth rate stood at 79%—significantly higher than the market average growth of 3.44%,
as reported by NielsenIQ Thailand 2025.
- Growth by product category: +11% in Makeup, +148% in Skincare, and +73%
- The launch of the ‘sasi’ brand, targeting the younger generation
- Established in 2017, sasi was created to meet the needs of younger consumers who value both affordability and fashion, while also representing the hopes and dreams of a new generation.
- The brand’s positioning is: ‘The most value for money yet trendy beauty & lifestyle brand’—a beauty and lifestyle brand that is both accessible and stylish.
- At the heart of ‘sasi’ is product design that resonates with youth preferences. For example, the Kiss & Blush Multifunction Cosmetics line was developed
for convenience, offering a single product that can be used on the eyes, cheeks, and lips. Meanwhile, the Acne Sol Collection was designed specifically to address teenage acne concerns. Across the makeup range, the brand is known for its bold, standout colour palette. - sasi has achieved a compound annual growth rate (CAGR) of over 50% per year from 2021 to 2024.
- Srichand United Dispensary Co Ltd has achieved consistent double-digit growth year-on-year, surpassing the 1 billion baht revenue milestone
- Revenue in 2021: 520 million baht
- Revenue in 2022: 717 million baht (+42.02%)
- Revenue in 2023: 1,019 million baht (+41.92%)
- Revenue in 2024: 1,600 million baht (+58.98%)
- Target revenue for 2025: more than +30% to +40%
- Total revenue is currently generated through a distribution mix of 90% offline sales and 10% online sales.
International Market Expansion: Positive Signals from Laos and Japan
SRICHAND has successfully expanded into the Lao market, achieving an impressive average annual growth rate of 112.5% between 2021 and 2024. Its most popular products in Laos fall under the skincare category, including the Moisture Burst Series, sunscreen, loose powder,
and foundation. The brand has built strong recognition in the market by supporting major national-level events, such as sponsoring the Miss Universe Laos pageant from 2022 to 2024, and Laos Fashion Week 2024. SRICHAND has also appointed a local brand presenter—@nethdao_phengsavanh a.k.a. Nethdao, a well-known Lao influencer—to strengthen its brand presence in the country.
In addition, promising signs have emerged from the Japanese market. At present, SRICHAND’s powder products are available offline in over 2,000 retail stores nationwide across Japan. The brand’s distinctive design has also attracted attention from BANDAI, a renowned Japanese toy manufacturer, which acquired the rights to SRICHAND’s powder packaging for use in capsule toy or ‘gachapon’ machines—selecting all six versions of the powder currently sold in Japan.
Srichand as a Purposeful Brand with a Mission to Represent Thai Pride
The success SRICHAND has achieved from 2021 to 2025 stems from its identity as a Purposeful Brand—striving to become a globally recognised Thai brand that Thais can be proud of.
This aspiration has driven four core strategies:
1. Preserving the brand’s ‘Modern Classic Thainess’ identity with pride
From the very beginning, SRICHAND has consistently embraced its Thai heritage—evident even in its unchanged name. During the rebranding era, the company redefined this heritage
with a modern flair, a turning point that continues to guide SRICHAND’s brand DNA today. The inscription ‘SRICHAND – BANGKOK 1948’ featured on its products pays homage to the brand’s roots, highlighting its origin in both time and place. This celebration of Thai identity is shared across the group, including with its sister brand, sasi, ensuring that consumers not only use Thai products but take pride in them too.
2. Selecting brand presenters who embody contemporary Thai identity
SRICHAND and sasi carefully choose brand ambassadors who reflect modern Thai values—individuals whose ideas, talents, and image are relatable and inspiring, reinforcing pride in being Thai.
Current presenters for SRICHAND include: Pimchanok ‘Baifern’ Luevisadpaibul (Base Makeup), Maylada ‘Bow’ Susri (Sunscreen), Kunpimook ‘BamBam’ Bhuwakul (SRICHAND IN-SKIN).
For sasi, the brand ambassadors are: Supassara ‘Kao’ Thanachat (Face of sasi – Lipstick & Eyebrow), and PROXIE (Face of sasi – Loose Powder & Foundation).
3. Product development to meet international standards
SRICHAND has invested significantly in quality and R&D, beginning with selecting manufacturing partners that meet the company’s stringent standards. Its formulation process draws on market trends and research, incorporating advanced Active Ingredients and technology-backed innovations. Each product undergoes extensive testing to ensure it delivers on its claims. Examples of standout innovations include:
- Skincare: Incorporation of Glyceryl Glucoside (GG), a new-generation moisturising agent, combined with well-known ingredients like Sodium Hyaluronate and CICA
in the Skin Moisture Burst Series. - Base Makeup: Hybrid Foundation in the Skin Booster Series, formulated with up to 86% skincare active ingredients, placing it on par with top-tier global cosmetic brands.
4. Fostering a corporate culture that attracts like-minded individuals
Srichand United Dispensary Co Ltd cultivates a workplace culture built on ‘Resilience’, empowering employees to thrive amidst rapid change and maximise their potential. This culture is underpinned by four pillars: Outcome – Delivering results that meet or exceed objectives; Accountability – Taking full responsibility for one’s work while supporting colleagues; Adaptability – Staying open and responsive to new ideas and challenges; and Speed – Acting swiftly—executing quickly and correcting mistakes just as promptly.
Moreover, the company offers inclusive and progressive benefits, such as: Paid maternity leave (up to 6 months), Leave for supporting a pregnant or postpartum spouse (up to 1 month), Gender affirmation surgery leave (up to 1 month), Bereavement leave (“mental wellness break”) for up to 10 days per year, Leave for spiritual or religious practice, and more.
This strong emphasis on people has earned SRICHAND widespread recognition as an employer of choice among the younger generation. In fact, the company ranked №1 out of 55 firms in the QMAC: QGEN Thailand Most Attractive Companies 2025 survey.
Confidence in T-Beauty (Thai Beauty) and Expansion into International Markets
Rawit stated, “As a company deeply rooted in Thailand’s beauty industry for over 76 years, we continuously monitor emerging beauty trends to refine and evolve our brand. In recent years, the popularity of ‘T-Beauty’—or Thai Beauty—has grown significantly, both domestically
and internationally. This rising trend, propagated through Thai dramas, series, and music,
has fuelled demand for Thai beauty products. Not only are local consumers increasingly embracing homegrown brands, but international tourists are also purchasing Thai beauty products to take home. The growing appeal of Thai brands abroad—evident from SRICHAND’s promising performance in the Lao market—combined with Thailand’s strong manufacturing capability, reinforces our belief that T-Beauty has the potential to become a powerful soft power for the country.”
The potential of T-Beauty is reflected in the growing trust in Thai brands:
- Confidence in Thai beauty products continues to rise among Thai consumers, as seen
in the consistent expansion of the Thai beauty market—mirrored in SRICHAND’s 58.98% year-on-year sales growth in 2024, reaching 1.6 billion baht. - In Japan, the ‘Suwai Meiku’ trend—Thai-style makeup—is gaining popularity. It features semi-matte foundation, slightly brushed-up natural brows, soft earth-toned eyeshadow, eyeliner with lengthened lower lashes, semi-matte lip colours, and healthy-looking oval blush.
- The phrase ‘Made in Thailand’ is increasingly associated with quality and reliability, particularly within ASEAN and Asian markets, where Thai brands are seen as high-quality, compliant with global standards, and accessible in terms of pricing.
As T-Beauty demonstrates its global potential, SRICHAND is seizing this momentum to expand its international business. The company aims to establish itself as a regional brand, with
a primary focus on the ASEAN and wider Asian markets. The international strategy centres on building strong partnerships with capable local distributors—those with the expertise to drive both offline and online sales. Beyond distribution and sales, SRICHAND also places high importance on brand-building and awareness to ensure long-term success in the region.
The company has set a target to increase international market sales to account for 10–15% of total revenue within three years.
With its strong foundations and growing international recognition, Srichand United Dispensary Co Ltd is well-positioned to support the rise of ‘T-Beauty’ as a soft power for Thailand.
This marks the dawn of a new era, and SRICHAND is committed to carrying the essence of ‘Modern Classic Thainess’ to the global stage through high-quality products. Ultimately,
this effort supports the brand’s ‘Purposeful Brand’ mission—to become a globally recognised Thai brand that brings pride to the Thai people,” concluded Rawit.
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