Beauty Community Plc, the operator of Beauty Buffet and Beauty Cottage shops, will change its distribution strategy and selling spots in CLMV markets (Cambodia, Laos, Myanmar and Vietnam) after slow sales at some locations.
Mr Suwin says poor-performing foreign shops will be shuttered.
Starting from Vietnam, the company will close beauty shops that have poor results, according to chief executive Suwin Kraibhubes.
More than one distributor will be appointed to CMLV markets, instead of exclusive distributors to manage entire markets.
Mr Suwin said these strategies, to be introduced over the rest of this year, are aimed at increasing sales opportunities across wider customer groups and locations.
He blamed tighter regulations on cosmetic products set by local authorities, especially Vietnam's Food and Drug Administration, for diminishing the company's opportunities to bring in more cosmetic product lines to the market.
Sales from overseas markets still contribute a small portion to Beauty Community, but they remain attractive for beauty business operators because of their growing economies and increasing middle-income brackets.
Second-quarter sales from overseas, including CLMV markets, grew by more than 400% year-on-year and contributed 13% of the company's total sales during the period.
As of last year, the company managed 40 stand-alone shops spread over Vietnam, Laos and Myanmar, and 138 corner stores in multi-brand beauty stores in Hong Kong, Indonesia and Taiwan.
Beauty Community plans to open five stand-alone shops in the Philippines by year-end.
For the domestic market, plans call for opening 50 beauty shops in all formats -- Beauty Cafe, Beauty Cottage or Beauty Market -- this year at an investment of 110 million baht.
Beauty Community reported second-quarter revenue growth of 50.9% to 887.3 million baht with 273 million baht in net profit, a 97% rise year-on-year.
For the first half of 2017, revenue grew by 41% to 1.57 billion baht, with net profit rising 76.5% to 472.8 million baht.
Mr Suwin attributed the strong results to improving same-store sales, store expansions in the domestic market and overseas, and online sales.
2017 revenue is expected to reach 3.1 billion baht, a 20% rise from last year.
"I'm confident in Thailand's cosmetic business," Mr Suwin said. "Whether the economic conditions are good or bad, this market will grow 7-9% annually."
Beauty market channels' value was estimated at 170 billion baht in 2016.
