RS enters the pet market
The Lifemate brand will debut next month
Mr. Surachai said RS is set to bring the Lifemate to market early next month.
Inspired by his love for his animal companions, it appears that Surachai Chetchotisak, founder of SET-listed RS Plc (RS), is preparing to introduce RS into Thailand’s 40 billion baht pet market.
Mr. Surachai, the company’s CEO, said RS intends to introduce Lifemate, a new pet brand under the concept of “holistic wellness for your life partners”, to market early next month.
Lifemate products come with an amazing package designed by the world’s leading design company, Pentagram, and will be distributed through pet stores, vet clinics and hospitals across the country, as well as online channels like RS Mall, Shopee, and Lazada.
It will start with dog and cat food and will expand to wet foods and snacks in the second or third quarter of next year. The company expects a sales target of 320 million baht by 2022.
Mr. Surachai said if Lifemate draws a good response from customers, RS will expand its business from food to pet stores or pet hospitals in the future.
“My personal experience of buying food, vitamins, and shampoo for my beloved dogs inspired the idea of doing a pet food business. I went to the pet store every week and found that the pet food market is very large and continues to grow.”
According to Mr. Surachai, although the prices of pet products are relatively high, people are willing to pay for them.
“With seven years of experience in healthcare for individuals and health innovations to improve health, it is time for RS to provide similar care for our pets,” he said.
Pornpan Techarungchaikul, the company’s chief commercial officer, said the pet market in Thailand has seen continuous growth every year, from 32.2 billion baht in 2018 to 35.4 billion baht and 39 billion baht in 2019 and 2020, respectively.
Of the total, 60% belong to the mass market segment, and the standard segment and premium segment account for 30% and 10%, respectively.
There are more than 100 brands of pet food on the market. Lifemate is positioned as an excellent product in the standard segment.
According to Ms. Pornpan, of the 39 billion baht, 45% is food for dogs and cats. The total annual expenditure on dry and wet food, snacks, vaccines, vitamins, and toys for dogs and cats is estimated at 14.2 billion baht.
“It is time to use our expertise and innovations to improve the health and lives of our pets. Regardless of our passion, the lucrative market provides a great opportunity for RS to make a conquest of this new territory,” said Mr. Surachai.
Ms. Burnban said Lifemate products have been formulated by pet nutritionists using premium raw materials to make Lifemate food better suited to the health of pets raised in most Asian environments and climates.