Ocean Glass Plc (OGC), the country´s leading manufacturer of glass tableware, is flexing its muscles to tap into the higher-end wineglass market to cover a broader segment of consumers.
Managing director Sunsanee Supatravanij said the company aimed to expand its product lines to cover more value-added stemware in addition to its existing two product segments _ retail glass products for household and professional products for food services.
The company in 2009 invested one billion baht in a new factory equipped with the advanced furnaces and technology from Japan and Germany. It can produce lead-free and barium-free crystal glass, with high clarity and brilliance.
OGC introduced premium crystal wine ware and accessories under the Lucaris brand last year and reported great success, selling one million pieces worth 300 million baht.
About 80% of the Lucaris products are exported to Asian markets such as Hong Kong, China,and Singapore where wine consumption is rising. Those markets also have enjoy significant growth in the hotel and food industry.
OGC currently supplies wine ware and accessories to leading hotels and restaurants including The Ritz Carlton in Hong Kong, the Renaissance and Fairmont Peace hotels in Shanghai, and the JW Marriott in Thailand.
"Surprisingly, Thai consumers still pay less attention to domestic wine glass products," said Ms Sunsanee. "It probably may be because they still stick with European brands."
She said Thais consumes about 0.5 litres of wine per capita per year, which was still low when compared to China (3 litres) and Hong Kong (1.7 litres).
She added that the Thailand wine ware market therefore had large room to grow, along with the wine market overall.
This year, the company plans to emphasise domestic marketing more. It will introduce Lucaris to broader food and hotel services markets as well as market the brand through special events such as wine-tasting dinners. Last year, OGC´s total sales reached 1.85 billion baht, with annual growth of 10-15%. Lucaris sales represented about 5% of the company´s total.
OGC plans to sell 10 million pieces of Lucaris wine glasses within the next three to five years and aims to be a leader in the Asian wine ware market with a 40% share.
OGC shares closed yesterday on the Stock Exchange of Thailand at 43.25 baht, down 50 satang, in trade worth 198,000 baht.
