SABINA Kicks Off 1Q24 with THB906 Million in Revenue, Forging Ahead with Continuous Market Expansion

SABINA continued to garner revenue of 906.5 million baht in the first quarter (January to March) of this year, growing by 32.5 million baht compared to the same period last year (YoY), representing a 3.7% increase, and growing by 35.8 million baht compared to the previous quarter (QoQ), representing a 4.1% increase. Meanwhile, net profit for the first quarter of 2024 stood at 122.7 million baht, growing by 4.7% from the same period last year and by 8.1% from the fourth quarter of last year. The net profit margin was at 13.5%, with key supporting factors coming from customer purchasing power domestically, which had driven revenue from Retail and Non-Store Retailing channels (NSR) to increase after market activation with the launch of a new advertising film series titled ‘SABINA Braless,’ stimulating consumer purchasing decisions and seeking opportunities to expand the OEM market by penetrating customers in the Middle East and Asia. With confidence, the Company can achieve a growth of 5-10% this year, as planned.

Miss Duangdao Mahanavanont, the CEO of SABINA Public Company Limited or SABINA, a manufacturer and distributor of “SABINA” lingerie products revealed that key factors supporting business performance in the first three months of this year came from the significant recovery in consumer purchasing power, resulting in revenue growth from retail channels by 5.0% and from Non-Store Retailing (NSR) channels by 33.4%, while revenue from Original Equipment Manufacturing (OEM) channels decreased by 57.2%. Meanwhile, the company’s production costs also decreased due to the Company’s continued investment in production line machinery for the second consecutive year, resulting in improved production efficiency and reduced losses during production.

“The increased purchasing power in the first quarter partly came from stimulating government spending policies that offer tax deductions, the “Easy E-Receipt” tax scheme, which had encouraged consumer spending. Additionally, SABINA had progressed its marketing efforts by introducing a new advertising campaign, extending the success of its “BRALESS” product line, which had continued its popularity in 2023 and 2024 due to the innovative “Comfort Fit” feature, catering to customers of all ages, generations, and body types. This campaign focuses on the concept of comfort, turning it into a viral trend and restoring the competitive edge of the “BRALESS” products in the first quarter,” said SABINA CEO.

Furthermore, in the first quarter, SABINA also launched a new product collection, Janesuda x SABINA, in exclusive collaboration with “Janesuda,” a Thai high-end fashion brand. This special collection includes both innerwear and outerwear designed by Janesuda, marking the first time SABINA has ventured beyond innerwear while aligning with the Company’s plan for 2024 to diversify its product offerings. SABINA aims to expand its customer base and maximize record-high revenue generation continuously.

For the latter half of this year, SABINA has ongoing plans for market expansion, including launching new collections domestically, which have been gradually introduced and distributed since the second quarter. Additionally, international marketing efforts are underway, following investments in the Philippines. Moreover, the Company plans to expand its OEM customer base beyond Europe and the United Kingdom, potentially into other Asian and Central Eastern countries. These initiatives are expected to contribute to achieving the 5-10% growth target for this year.