BANGKOK — Pañpuri has partnered with Kose to accelerate its international market expansion. The brand is targeting prime locations in major malls and standalone stores in key cities.
The brand intends to open flagship stores in the next 1-2 years before entering the Chinese market. With a focus on innovation through R&D collaboration, Pañpuri aims to achieve 20-30 percent annual sales growth over the next five years to become a leading regional and global brand.
Vorravit Siripark, founder and CEO of Pañpuri, told Prachachat Business that the company is enlisting the support of Kose Corporation after it acquired a stake in Pañpuri in late 2024. This collaboration aims to accelerate international expansion, particularly in Japan, which Pañpuri considers its second home. The partnership will also combine expertise in innovation to take the brand to a regional and global level.
The niche fragrance and wellness industries are expected to experience significant growth in 2025, both in Thailand and globally. Consumers increasingly associate fragrances with well-being and use perfumes for relaxation and emotional comfort. In addition, younger generations such as Millennials (Gen Y) and Gen Z see fragrance as an extension of their identity that goes beyond its traditional purpose.
This trend is driving the perfume market to grow at a faster rate than the overall beauty industry, with competition intensifying in four key areas: scent, fragrance innovation, storytelling, and packaging design.
Targeting Japan and the Asian Market
According to Vorraviit, the partnership with Kose will focus on two main aspects: expanding retail presence, and enhancing Product Innovation. Pañpuri will leverage Kose’s established relationships with premium department stores and property developers throughout Japan, gaining immediate access to prime retail locations that would typically require years of negotiation to secure.
The company plans to launch its flagship Japanese store within 1-2 years while simultaneously expanding its retail footprint and brand visibility. Their objective is to establish a significant market presence in Japan within 3-5 years.
Additional expansion into Hong Kong and Singapore is already planned, while China—recognized as both critical and intensely competitive—remains on the horizon. Pañpuri anticipates developing a more defined China market entry strategy by 2026.
The partnership will utilize Kose’s skincare and cosmetics expertise to strengthen Pañpuri’s research and development capabilities and accelerate their innovation pipeline.
While manufacturing operations will remain in Thailand, the brand may expand beyond its fragrance foundations to introduce new product categories, including skincare and additional wellness offerings.
Both companies will maintain their distinctive brand identities despite the partnership. To preserve each brand’s unique positioning, there are no plans to cross-distribute products through their respective existing channels.
Staying True to Pañpuri’s DNA
“We have been looking for a partner with the expertise and capability to support Pañpuri’s regional and global ambitions for a long time,” explained Vorravit. “Kose was the right choice because we share the same vision – quality, innovation and a deep cultural understanding. Kose’s leadership has assured us that they will respect and uphold our brand DNA without making any changes, while fully supporting us.”
Pañpuri aims not only to expand its retail presence but also to drive sales growth through innovative products and store modernization in Thailand. The company’s strategy focuses on positioning Thailand as a leading wellness destination, with fragrances playing a key role.
The company is targeting annual sales growth of 20-30 over the next five years, having reached sales of 1.1 billion baht ($30 million) in 2024, surpassing the 400 million baht ($12 million) achieved in 2019, before the COVID-19 pandemic.
To compete with e-commerce, Pañpuri is enhancing the in-store experience to attract customers through unique, immersive experiences not available online. Activities such as fragrance testing, flower arranging workshops and the art of gifting — a wrapping service inspired by traditional Thai Bai Sri arrangements – will be offered in each store. Each store will have a unique design, created in collaboration with architects and designers to provide an experience similar to visiting an exhibition, increasing sales potential.
In addition, the company plans to renovate existing stores every 3-5 years to ensure a constantly fresh shopping experience. In 2025, about five new or renovated stores will be opened, mainly in newly opened shopping malls and tourist destinations such as Phuket and Chiang Mai. Pañpuri currently operates 31 stores in Thailand and is represented in 15 other countries.
Strengthening leadership in perfume innovation
With the support of Kose, Pañpuri will further strengthen its position as a leader in fragrance innovation. One example of this is Perfume Oil, an alcohol-free, oil-based fragrance inspired by ancient methods of fragrance application.
This format is designed to be quickly absorbed into the skin while being long-lasting, appealing to consumers looking for a unique and luxurious experience.
New fragrance innovations currently in development are expected to be launched in 2026. The latest addition to the range is Solid Perfume Balm. This continues the brand’s commitment to redefining the fragrance experience.
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