SEDANIA Innovator Bhd through its 51%-owned health tech subsidiary that focuses on early child care solutions, Offspring Inc, has further spread its wing to Thailand, adding to its global footprint into key markets.
A pioneer in organic-based baby products in the region, Offspring produces high quality eco-friendly baby diapers, biodegradable wet wipes, baby care essentials and home care products that use non-toxic, organic and plant-based ingredients.
In a recent statement, SEDANIA said Offspring has expanded to four markets, namely Spain, Finland, Cambodia and South Korea.
This means with its recent expansion into Thailand, Offspring is now available in 11 export countries including the US, Singapore, Brunei, the Philippines, and Russia.
Offspring will be made available on a dedicated web store designed specifically for Thailand in bilingual language – English and Thai.
Additionally, the product will also be available in top online shopping platforms such as Shopee and Lazada Thailand.
“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 expand their market reach,” commented SEDANIA’s founder and managing director Datuk Azrin Mohd Noor.
“Expansion plan has always been the key focus for Offspring. Getting into Thailand further solidifies the growth strategic plan for the company.”
Based on market research conducted by Offspring, total birth rates in Thailand is estimated to be around 780,000 newborns annually or 56% higher compared to Malaysia’s estimated birth rates.
From the birth rates estimation, Offspring is currently working towards a market share of RM25 mil per annum. According to figures from Euromonitor International, the global baby diaper market is expected to witness a compound annual growth rate (CAGR) estimated at USD51.53 bil by 2024.
“Thailand is expected to be one of the fastest growing markets for baby diapers in Southeast Asia,” projected Azrin further added, “The staggering numbers represent a golden opportunity for Offspring. We anticipate Thailand to be the leading export country for Asian market.”
In its 1Q FY2021ended March 31, 2021, SEDANIA posted a revenue of RM17.07 mil or more than six-fold increase from RM2.78 mil in the same period of the previous year on the back of a net profit of RM4.89 mil (1Q FY2020: net loss of RM1.82 mil).
Its health tech segment under Offspring contributed about 32% of the group’s total revenue during that quarter.
At 11.50am, SEDANIA was up 1 sen or 1.2% to 84 sen with 11.84 million shares traded, thus valuing the company at RM292 mil. – July 13, 2021.
