WCI Holding Plc is set to spend 300 million baht this year to revitalise its Wuttisak beauty clinic and cosmetics business.
According to Gwyn Sundhagul, the company's chairman of the executive committee, the company is committed to expanding more assertively this year to recoup business after sales fell drastically in the last five years.
WCI Holding holds a 100% stake in Wuttisak Clinic InterGroup, the operator of Wuttisak beauty clinics.
The company's consolidated sales totalled 218 million baht in 2018, a sharp drop from 4 billion baht in 2013.
The sales skid is blamed largely on a discontinuity of management.
"There seems to have been lots of problems within the company, which has changed its management team several times," Mr Gwyn said. "I myself joined Wuttisak's management team in November of last year and saw a great opportunity at Wuttisak, which has strong brand recognition from customers."
Mr Gwyn has 25 years of experience in retail, wholesale, real estate development and financial services. He vows to transform Wuttisak through a new business vision: partnerships with renowned beauty clinic providers, leveraging the brand's built-up credibility.
According to Mr Gwyn, of the 300-million-baht spending plan, 150 million will be used to open a high-end surgery clinic in 1,500-2,000 square metres of space somewhere in Bangkok this year.
The surgery clinic will be under a cooperation with Korean partners, including ID Plastic Surgery Hospital, Wonjin Plastic Surgery Clinic and Banobagi Surgery Clinic. Talks with Korean partners are under way.
Mr Gwyn said the company is also negotiating a partnership with a renowned Thai hair surgery doctor to open a premium medical hair salon in the third quarter of this year.
Three medical salons with space of 200 sq m will open in Bangkok, Chiang Mai and Phuket, each requiring an investment of 15 million baht.
The remaining budget will be used to refurbish and relocate Wuttisak's existing clinics, build up the brand and launch Wuttisak beauty centres.
Wuttisak beauty centres will sell not just products of the company's own brand, but also others for which Wuttisak acquires exclusive rights.
Food supplements and functional foods will be added to the product portfolio this year.
According to Mr Gwyn, the company will also open Wuttisak Academy this year as the centre of training for both medical and non-medical services to increase consumer confidence.
The company runs 19 Wuttisak clinics and 44 branches via franchisees. The number of owned Wuttisak branches will increase to 25 this year.
With the new business plan, the company expects sales of 400-500 million baht this year and 4 billion baht within five years.
