Henkel sees bounce in local hair market
Henkel (Thailand) Ltd, the marketer of Schwarzkopf professional hair products, expects Thailand’s haircare market to recover this year after flat growth in 2017.
Dheerasak Tridhip, general manager of Beauty Care Professional, Henkel Thailand, said the country’s haircare market is expected to resume growth of 5% this year to 4.2 billion baht because of the economic recovery, improved consumer spending, and digital media.
“Thais are more fashionable and the company found the number of Thai men curling their hair increased by 50% last year,” he said. “And with the elderly population rising in Thailand, demand for hair colouring treatment is expected to flourish.”
In addition, the number of beauty salons in the country increased to about 40,000 from 30,000 last year.
Mr Dheerasak predicted professional hair product sales are promising given Thailand’s ageing society.
“Hair colouring products are now in high demand among the elderly in Japan, and we hope the trend will hit the Thai market in the near future,” he said.
Thai women typically visit a beauty salon every 3-4 months for their hair treatment, while the elderly visit a salon every month and a half to cover their grey and white hair, said Mr Dheerasak.
He said Thailand’s haircare market stayed flat last year at about 4 billion baht, the first time in the past 6-7 years growth stalled, which he credited to the domestic economic downturn.
Mr Dheerasak said the economic turnaround has made competition in haircare products fiercer this year, with every brand launching new products.
Despite stiff competition, the company wants to grow its sales by double-digits this year, helped by two famous international haircare brands: Joico and Zotos. It included them in its product portfolio at the end of last year after its parent company in Germany acquired Zotos International, the North American professional hair business of Shiseido Company last year.
“With this acquisition, we can reach all segments of the beauty salon and customer groups. We hold a strong second place in the Thai market,” he said.
The company has already integrated the operations, assets and other systems of the two hair brands under the Schwarzkopf professional business and started to sell Zotos and Joico since Jan 3 of this year, said Mr Dheerasak.