<article><a style="color: #000080;" href="http://www.thaiopticalgroup.com/home.php">Thai Optical Group (TOG),</a> one of the top producers and distributors of plastic optical lens, are targeting a one-third market share of Asean&#8217;s optical lens market over the next five year.</article>

<a style="color: #000080;" href="http://www.thaiopticalgroup.com/home.php">Thai Optical Group (TOG),</a> one of the top producers and distributors of plastic optical lens, are targeting a one-third market share of Asean&#8217;s optical lens market over the next five year.
For this, the company is planning to form joint venture firms, which will bolster its presence in Singapore, Vietnam, and Malaysia through next year.
According to TOG’s managing director Thorn Prachaktham, the Thai company will hold 30 per cent stake in each joint venture and local partners in each country will hold the majority 70 per cent.
“We will focus on marketing our house-brand products, TOG Exelite, in order to capture Asean&#8217;s mid to high-end markets. This will generate more margin for us than capturing only the OEM market,” he told the media.
However, he added the strategy for each country would be different. Vietnam’s market, for example, has an attractive growth for the mid-priced products, while Singapore’s market is small, but people are willing to pay for premium products. Nonetheless, the performance in Malaysia may not hit the target this year due to the fierce competition and the fluctuating currency.
Apart from these three countries, it is also considering and exploring the opportunities to tap into Indonesia, the Philippines, and Myanmar in the following years.
“We want to hold at least 30 per cent in each joint venture, or we may take over if there is a chance,” he said.
Currently, almost all of its revenue comes from overseas. Of the total, 40 per cent is generated from Europe, 30 per cent from Australia and New Zealand, 20 per cent from Asia and the rest 10 per cent from the United States.
The Asean countries generate around 8 per cent of total revenue, which is expected to rise to 10-15 per cent after the joint ventures are completed.
According to the company, its revenue this year will not grow from 1.86 billion baht in 2014. However, it expects the annual growth of 5-7 per cent during 2016-20 and the net profit margin of 5-7 per cent.
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Thai Optical Group (TOG) aims to occupy one-third market share of Asean's optical lens market over the next five year.

Thai Optical Group plans Asean expansion via JVs with local companies

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Thai Optical Group plans Asean expansion via JVs with local companies

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