Thailand’s Tanachira Retail debuts on Thai stock exchange

Its net profit reached US$1.95m in H1 2023, up 88.14% from last year.

Thailand-based luxury retail group, Tanachira Retail Corp PLC, started trading on the Stock Exchange of Thailand (SET) to augment its business expansion and become a Thai lifestyle company in the regional market.

The debut of Tanachira (TAN) came at a time when the distributor of world-class lifestyle and fashion brands achieved a net profit of $1.95m (71.06 million baht) in the first six months of 2023, an 88.14% improvement from the year prior.

It began trading TAN shares on 18 October 2023 in SET under the service and commercial business category following its offer of an IPO of 77.5 million shares at a price of THB16.50 (US$0.45) per share.

TAN CEO Tanapong Chiraphanidchakul said the company’s expansion and trading strategies mark “an important step to help TAN grow into a leading lifestyle company in the region, supported with strong financial capital to expand its business ecosystem in the future.”

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TAN chief financial officer Chidchanok Jangpol said the company's first half-year results of 2023 generated a total sales revenue of THB655.80 million (US$18m), up 18.01% compared to the same period last year. 

TAN is the owner of HARNN Group, a global distributor of body care, skincare, spa, and aromatherapy products. By Q3 2023, the group expanded with TAN branches overseas, opening its first branches in Singapore and Vietnam, including the first Marimekko’s first branch in Singapore. 

This helps support TAN's continuous growth and aims to become a leading lifestyle company in the region.

THB 1 = US$0.027