Sedania's 51%-owned subsidiary Offspring Inc expands into Thailand
KUALA LUMPUR (July 13): Sedania Innovator Bhd's 51%-owned subsidiary Offspring Inc, which produces baby products including eco-friendly diapers and biodegradable wet wipes, is expanding into Thailand to further expand Offspring's global presence.
In a statement today, Sedania's founder and managing director Datuk Azrin Mohd Noor said: "Expansion plan has always been the key focus for Offspring. Getting into Thailand further solidifies the growth strategic plan for the company."
Sedania noted that Offspring will be made available on a dedicated web store designed specifically for Thailand in bilingual languages — English and Thai. It added that the products will also be available in top online shopping platforms such as Shopee and Lazada Thailand.
On the growth prospects of Thailand, Azrin said: "I am confident that Offspring will make yet another breakthrough by offering our top quality organic products equipped with our comprehensive distributor programme that will further assist our counterpart to expand their market reach."
Based on the statistical data from market research conducted by Offspring Inc, the company said the birth rate in Thailand is estimated to be around 780,000 newborns annually. The rate is 56% higher compared with the estimated birth rate in Malaysia, it noted.
From the birth rate estimation, Offspring Inc is currently working towards a market share of RM25 million per annum, according to Sedania.
At the time of writing, Sedania's share price was up one sen or 1.2% to 84 sen.
http://www.theedgemarkets.com/article/sedanias-51owned-subsidiary-offspring-inc-expands-thailand
