Thailand-based PTT Oil and Retail Business (OR) has ventured into the health and beauty sector in partnership with Japan’s Sugi Holdings Co.
A subsidiary of Petroleum Corporation of Thailand, OR is the largest service station in the country with approximately 2000 stores nationwide, 8 million Blue Plus members, and 4500 coffee shops.
As part of the collaboration, OR will utilise its extensive physical network and Blue Plus loyalty program to drive growth. Meanwhile, Sugi – the parent company of Sugi Pharmacy with more than 1700 stores in Japan – will provide its health and beauty products, as well as knowledge and technology.
“Thailand is home to Southeast Asia’s second largest health and beauty market, valued at 350 billion baht as of 2022, with growing consumers who are keen to take better care of themselves,” said Disathat Panyarachun, CEO of OR.
“Together with international and local strategic partners, OR plans to seize this opportunity by launching a new retail format with ultra-convenient shopping experience across offline and online with access to unique and affordable products from Japan, Korea, and Thailand – creating a new S-curve for the company.”
The two firms also plan to launch a new retail format, which will offer access, convenience, and personalised experiences for customers. The new stores are expected to open in the middle of this year.
