SABINA aims for 10% growth in ’23 to outdo pre-pandemic sales and profits by upgrading machinery to back exponential growth plan for next decade and kicking off new year with new TVC
Bangkok – 23 March 2023: SABINA announced its 2023 sales plan targeting a new high of 10% growth as well as breaking its all-time record of sales and profits in 2019 after the COVID-19 crisis. The company is certain that it will flourish in line with the overall economy given the reviving consumer spending and the climbing number of tourists as the contributory factors to the targeted growth through all channels, namely retail, NSR, and OEM. Another announcement is that SABINA will invest in enhancing machinery efficiency and effectiveness to support enormous growth in both production and sales in the next 10 years. SABINA kicks off 2023 with a new television commercial with Baifern-Pimchanok as the brand presenter, which will assuredly wow customers since the beginning of the year.
Ms. Duangdao Mahanavanont, CEO of Sabina Public Company Limited (SABINA), manufacturer and distributor of SABINA lingerie, revealed that the company has set a YoY growth target of 10% for 2023, intending this year’s sales to beat the record of 3,295 million baht in 2019 before the pandemic. The important favorable condition is the economic recovery that is showing steady improvement as consumer confidence and purchasing power are picking up while tourism is bouncing back strongly in this year. Considering how domestic spending is the principal contributor to SABINA’s sales, the company substantially benefits from the situation. Furthermore, SABINA plans to launch new collections throughout the year to add variety and meet all customer demands.
“This year’s performance is riding the coattails of 2022, in which we closed sales with satisfactory figures and achieved growth through all channels: retail, non-store retailing (NSR), and OEM. OEM in particular enjoyed more growth than projected owing to both the inbound orders and the depreciation of the Thai baht. At the same time, our efficient cost control kept costs lower than estimated, thus increasing our profitability. Similar to last year, we set our sights on expanding through all three sales channels, targeting an average of 10% growth,” said Ms. Duangdao.
Currently, SABINA earns revenues from three sales channels. When comparing last year’s proportions of revenue with the total revenue, the retail channel topped at 65%, followed by the NSR channel at 25% and the OEM channel at 10%. This year, SABINA aspires to sustain such proportions of revenue from the three channels while they undoubtedly continue to grow, especially retail which is bolstered by China’s rollback of its anti-COVID measures combined with the rising number of tourists. In addition to adjusting plans for growing inventory and point of sales side by side, the company also plans to support the expansion of the NSR and OEM channels so that the revenue streams are flexible and efficient, thus considerably strengthening SABINA’s financial statements.
The CEO of SABINA added that the company’s core business plan for 2023 covers investment in cutting-edge machinery in preparation for the exponential growth in the next 10 years, including improving operational efficiency with emphasis on attaining both qualitative and quantitative goals, which is a sustainable long-term development approach that will enhance quality as well as customer satisfaction.
Moreover, SABINA plans to drive sales by unveiling a new collection together with a new television commercial that will be broadcasted across all channels on 25 January 2023. The main brand presenter is still the multi-talented actress Baifern-Pimchanok Luevisadpaibul, one of the biggest stars in show business. The highlight of this TVC is the development of our products based on consumer insights depending on the past two covid-stricken years. Consumers mostly stayed and worked at home and became accustomed to the habit of seeking comfort; comparable to not wearing a bra. To meet this need, SABINA came up with the “SABINA Braless” that has three significant features – Skin Light (light-weight), Cloud On (soft touch), Air Flow (cool). Products incorporating these innovative features are now available at all SABINA counters and the online channel. In addition to product uniqueness, SABINA is positive that the TVC will catch a great deal of attention early on, creating yet another fashion sensation that will reaffirm SABINA’s longstanding position as consumers’ top-of-mind brand.