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Investor with primary focus on consumer sector

Vaibhav Saharan

Equity Bottom-Up

<p>The Thai cosmetics company has gotten the local population hooked on to its mass market products and is increasingly appealing to the Chinese tourists in Thailand. Its product pricing appeals to a wide middle class audience with few other trendy options. Impressive sales growth, stable margins and low working capital have produced high profit growth and cash conversion, which in turn have led to a remarkable share price rally over the last 2 years. With sales growth re-accelerating in recent quarters, the momentum is not done yet. </p>

The Thai cosmetics company has gotten the local population hooked on to its mass market products and is increasingly appealing to the Chinese tourists in Thailand. Its product pricing appeals to a wide middle class audience with few other trendy options. Impressive sales growth, stable margins and low working capital have produced high profit growth and cash conversion, which in turn have led to a remarkable share price rally over the last 2 years. With sales growth re-accelerating in recent quarters, the momentum is not done yet. 

Beauty Community: Huge Momentum in Thailand and Appealing to Chinese Tourists