TANACHIRA Retail Corporation Public Company Limited (TAN) has reported its 2024 financial results, achieving a record-breaking total revenue of THB 1,774 million, reflecting a 24% year-on-year growth. The strong performance was driven by a 4% increase in Same-Store Sales Growth (SSSG) and the expansion of new stores. Notably, the fashion segment, including Marimekko, GANNI, and United Arrows, demonstrated impressive growth, alongside the food & beverage segment, particularly Gordon Ramsay Bread Street Kitchen & Bar, which has been well received. For 2025, TAN has set an ambitious target of 20% revenue growth, with plans to introduce new brands into its fashion and lifestyle portfolio and continue expanding HARNN in the Chinese market.

Mr. Tanapong Chirapanidchakul Chief Executive Officer, TANACHIRA Retail Corporation Co., Ltd. (TAN) stated, stated "2024 marked a significant year of investment, resulting in our strong performance. Our total revenue for the fiscal year ending December 31, 2024, reached THB 1,774 million, reflecting a 24% year-on-year growth. This was driven by sales growth across all channels, particularly Marimekko and HARNN, which showed outstanding performance. Despite a decline in key tourist segments, HARNN performed exceptionally well. Our revenue breakdown is as follows: Lifestyle (52%), Fashion (23%), Beauty & Wellness (19%), and Food & Beverage (6%). Additionally, international revenue accounted for 8% of total revenue, marking a 180% year-on-year growth, demonstrating our successful global expansion."

However, net profit stood at THB 130 million, a 22% decrease from the previous year, primarily due to increased Selling, General & Administrative (SG&A) expenses associated with new store expansions both domestically and internationally. This included pre-opening costs and one-time accounting adjustments to align international businesses with Thai GAAP standards, amounting to THB 18.9 million. Additionally, inventory revaluation adjustments in overseas markets accounted for THB 8.8 million, leading to a temporary decline in Q4 net profit.

"In the long run, we believe our international expansion will enhance TANACHIRA’s overall growth and deliver sustainable returns in the future," Mr. Tanapong added.

On February 28, 2025, TAN’s Board of Directors approved a dividend payment of THB 0.33 per share, subject to shareholder approval. The ex-dividend (XD) date is set for May 8, 2025, with the record date on May 9, 2025, and the dividend payment scheduled for May 23, 2025. This decision reflects the company’s strong financial stability.

Additionally, the Board approved a share repurchase program, with a maximum budget of THB 24 million to repurchase up to 4 million shares (approximately 1.33% of total outstanding shares) between March 7 and September 5, 2025, aiming to enhance shareholder value through effective liquidity management.

TAN has outlined an aggressive growth strategy for 2025, targeting a minimum 20% revenue growth through three key initiatives:

1. Enhancing Operational Efficiency for Immediate Profitability

• Driving international sales growth while limiting new domestic investments in non-profitable projects.
• Reducing investment budgets from 6.4% to 4% of total revenue.
• Standardizing international operations to align with headquarters’ best practices.

2. Cost Optimization and Expense Control

• Implementing stringent cost control measures, particularly in the food & beverage segment.
• Restructuring operations and gradually closing non-profitable stores.
• Accelerating international sales while delaying new investments in non-profitable markets.

3. Leveraging Digital Transformation for Business Growth

• Implementing Line CRM, Real-Time Marketing Automation, and Business Intelligence tools to enhance marketing effectiveness.
• Increasing sales efficiency while optimizing marketing expenditures.

In addition to its core strategies, TAN is set to expand its brand portfolio by launching MM6 Maison Margiela in the fashion segment and an Activewear brand in the lifestyle segment, scheduled for August 2025. The company will also continue its strategic expansion in China, tapping into its high-spending consumer base.

"2025 will be another challenging yet exciting year. At TAN, we remain committed to delivering exceptional customer experiences, enhancing operational efficiency, and leveraging technology to drive business growth. With our clear strategic direction and strong management execution, we are confident in achieving robust profitability and sustainable long-term growth," Mr. Tanapong concluded.

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