TCP Group announces new purpose ‘Energizing a Better World for All’, with 3 key strategies to reinforce leadership in beverage market and grow sustainably in Thailand and abroad

• Fulfilling – energizing our brand’ solidifies position as ‘House of Great Brands’, with new product development and new brands in response to all lifestyles, both in Thailand and abroad
• ‘Growing – energizing our growth’ with plans to invest 12 billion baht both in Thailand and abroad and targeting double annual revenue within 3 years
• ‘Caring – energizing our environment’ integrating sustainability in working process to create positive impact on environment

TCP Group, the manufacturer and distributor of Kratingdaeng (Red Bull), Ready, Som Plus, Sponsor, Mansome, Mansome Vitamin Water, Hi!, Puriku, Sun Snack, and Warrior, has announced its new purpose ‘Energizing a Better World for All’ presenting three key strategies: Fulfilling, Growing, and Caring, with a three-year plan from 2022 to 2024 to further drive the organization into one that grows sustainably in business and creates a positive impact on society and the environment, locally and globally.

Mr. Saravoot Yoovidhya, Chief Executive Officer, TCP Group, said: “Five years ago, we announced the synergy of our various businesses into ‘TCP Group’, and we have been working toward sustainable development goals ever since. Up to now, events such as COVID-19 and digital transformation have tremendously affected business, society, and the environment. We, therefore, are revisiting our purpose and strategies in every aspect to prepare for the volatile future and to create growth for the organization while energizing the sustainability of the world with a new purpose: ‘Energizing a Better World for All’.”

Fulfilling – energizing our brand

Within three years, TCP Group will launch ten new products under ‘Kratingdaeng’ or ‘Red Bull’ brand (a world-class energy drink and Asian market leader) both in Thailand and abroad, to update both the product taste and brand image to be more modern. The group will also introduce new brands under the 'House of Great Brands' to global markets, particularly in Asia, and will develop at least five new products by exploring unmet consumer needs targeting the Health & Wellness market.

Growing – energizing our growth

TCP Group continues to penetrate both Thai and global markets, with total investment plans of 12 billion baht and increasing overseas production capacity (particularly in China, one of the main markets with high growth potential) doubling the annual target revenue at 90 billion baht per year within three years. It will also increase the efficiency in the organization with digital transformation by applying various types of technology, including data management & analysis, smart manufacturing, and data management from various omnichannel layers as well as developing personnel to grow with technology and promoting work-life integration, more seamlessly connecting work and personal life.

Caring – energizing our environment

With the new purpose, TCP Group is elevating its environmental sustainability initiatives by focusing on three urgent challenges: Carbon Neutrality, Circular Economy, and Water Sustainability.  For ‘Carbon Neutrality’, TCP Group is setting a goal of carbon neutral from all working processes in Thailand and abroad by 2050. Under ‘Circular Economy’, the company will develop packaging to be 100% recyclable by 2024. It is also working with partners who are global environmental organizations to support the collection of used-packaging components including glass bottles, aluminum cans and plastic bottles, putting them back into the recycling cycle. Finally, for ‘Water Sustainability’, TCP Group aims to replenish more water for the environment and communities than the company uses (Net Water Positive) by 2030, as well as increasing production efficiency and reducing water use. The company will collaborate with partners and communities in three countries: Thailand, China, and Vietnam, where TCP Group factories are located, to safeguard the sustainability of water resources in those locations.

“Our new purpose, ‘Energizing a Better World for All’, with three key strategies: Fulfilling – energizing our brand, Growing – energizing our growth, and Caring – energizing our environment, will lead us to sustainable growth in Thailand and abroad while also energizing Thai society,” Mr. Saravoot concluded.