Rosegold, a market leader in health and beauty supplements, visited Cambodia this week as it considers its next overseas venture.
The company, which is based in Thailand, first expanded its products into Laos in 2020, and is also in discussion with potential partners in Hanoi to introduce Rosegold products to the Vietnamese market.
Introducing products to consumers in Cambodia
Ms Thunrawee Ruengraweethitikorn, Director of Business Development at Rosegold Thailand, was in Phnom Penh on a fact-finding business visit to determine an appropriate business model and approach to introduce the company’s products to consumers in Cambodia.
“The objective of this trip was to get a better understanding of the market in Cambodia along with understanding the local rules and regulations in order to be compliant with them and to have a commercially viable and customer-service-oriented operation here”, said Thunrawee.
Rosegold’s approach is to establish a robust Business-to-Business network of partners to create growth and opportunities that generate sustainable revenue for all involved.
“We are confident that Rosegold products will be as well received in Cambodia, and we shall endeavour to start operations by the second quarter of next year”, added Thunrawee.
During her visit, and with the help of Aquarii BD Cambodia, an in-country business consultancy in Cambodia, she met with several strategic partners, including CKHG, RHTLaw Cambodia and IndoChina Research, among others.
Cambodia’s increasing purchasing power
Speaking about the move, CEO of Aquarii Michael Tan said, “Entry into the Cambodian market by the health and beauty heavyweight from Thailand underlines not only the growing health and beauty supplement market but also the increasing purchasing power within the population.”
“We are pleased to welcome new businesses into Cambodia and look forward to helping Rosegold and others navigate the market or to help them find business and investment opportunities through our network of connections and partners here,” he added.
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Rosegold products have been very well received and successful in Thailand, and are used by many Thai celebrities such as Ms. Chompoo Araya A.Hargate, who is also Rosegold’s brand Ambassador for Sakana Collagen X10.