Dusit Thani Public Company Limited (DTC), one of Thailand’s leading hotel and property development companies, has expanded its offering into the food business with the official launch of Dusit Foods.
The wholly owned subsidiary, designed to leverage Dusit’s rich experience in food and beverage service, will generate revenue from adjacent lines of business.
Officially introduced to food industry specialists at THAIFEX World of Food Asia 2019, Southeast Asia’s largest food and beverage show, Dusit Foods outlined its strategy to invest in food-related companies with strong growth potential. It also unveiled plans to market its own premium instant food brand, named Khong Thai, produced in partnership with world-renowned Australian chef David Thompson and aimed mainly at international markets.
By pursuing organic and non-organic growth, Dusit Foods aims to achieve $12.6 million in revenue by the end of this year. It has set the target of achieving $31.4 million in revenue by 2021.
Expanding on DTC’s vision to uniquely deliver gracious Thai-inspired hospitality to the world, Dusit Foods aims to ‘Bring Asia to the World’ through Thai and Asian food products that reflect four key pillars of sustainable production – healthy, natural, organic and supporting local communities – while also leveraging DTC’s strong reputation for delivering high quality experiences, particularly in Asia, where most of the company’s hotels and resorts are located.
Dusit Foods plans to establish Khong Thai in the international market. The products will initially be aimed at white tablecloth restaurants, with a view to targeting key food suppliers later. The initial product line-up includes four premium recipes, namely Green Curry, Massaman Curry, Yellow Curry and Laksa. Each dish comes in two styles – ‘Simmer Sauce, Ready to Cook’, and ‘Concentrated Paste’, which, depending on the recipe, is designed to be combined with coconut milk and/or water.
“By leveraging and complementing our core operations in hospitality, we are confident that Dusit Foods will be a fruitful venture for our company,” group CEO, Dusit International, Suphajee Suthumpun declared. “The return on investments will be a key driver in achieving our target of 400 million baht from food business this year. And these investments, coupled with the introduction of our own food products, will be another important factor in our sustainable and profitable growth as a company.”
Meanwhile, managing director, Dusit Foods, Jate Sopitpongstorn said: “We are delighted to work with celebrated Australian chef David Thompson to develop the recipes for Khong Thai. His passion for authentic Thai food is well known, especially as he is behind the success of Michelin-starred Thai restaurants both in Thailand and abroad.
“Our initial marketing mix is 90 per cent overseas and 10 per cent domestic, with a particular focus on the US because of the large consumer base and popularity of Thai food. We will launch Khong Thai in the US this September, before expanding to England, Germany, France, and other key European markets,” he concluded.