From Heritage to Modern Icon: The Strategic Transformation of Srichand
Facing declining market relevance, Srichand, a Thai heritage brand, reinvented itself through strategic rebranding and entrepreneurial drive, emerging stronger amid challenges and gaining renewed recognition at home and abroad.
At a glance
Year Founded
1948
(As Srichand United Dispensary)
Location
Bangkok, Thailand
Industry
Cosmetics, Health, Wellness, and Beauty
Revenue
THB 1.6 billion (US$ 49.5 million)
(2024)
Abstract
Srichand, a Thai heritage cosmetics brand established in 1948, exemplifies how a sunsetting SME can re-enter the market through strategic leadership, rebranding, and innovation. Once a household name for its iconic Srichand Scented Powder (ผงหอมศรีจันทร์; Pong Hom Srichand), the brand faced obsolescence by the early 2000s due to shifting consumer preferences toward facial care products with modern formulas, particularly from imported global brands.
This case study explores how CEO Rawit Hanutsaha, the third generation of the founding family, revitalized Srichand by modernizing not only its products but also its overall operations and company culture. Building on the brand’s long-standing reputation for product efficacy, Srichand re-emerged in the modern trade market with a new look, strategic pricing, and contemporary branding. The launch of its reformulated flagship Translucent Powder in 2014 marked a major breakthrough, propelling revenue from THB 10 million (US$309,310) in 2006 to THB 1.6 billion (US$49.5 million) in 2024.
The study further analyzes Srichand’s diversification into skincare and youth-oriented sub-brand, Sasi, along with its expansion into international markets, including Japan, inviting readers to examine the strategic decisions behind its evolution from revival to growth.
Methodologically, the case draws on qualitative insights from public interviews, market data, reports, and analytical business frameworks. The findings highlight Srichand’s ability to balance heritage with innovation, leveraging authenticity as a competitive advantage while navigating expansion beyond its home market, marking it as a reference point for rebranding contemporary SMEs and family businesses.
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(1) Regarding Case Study Content: This case study is based mainly on secondary data and analysis of publicly available information unless otherwise stated, and is intended solely for educational purposes. Any opinions expressed by the author(s) are designed to facilitate learning discussion and do not serve to illustrate the effectiveness of the company. Additionally, banner images and logos used in the case study are intended for visualization in an educational setting and it is not used to represent or brand the company. For any dispute regarding the content and usage of images and logos, please contact the team.
(2) Regarding University Affiliation and Titles of Authors: The university affiliation and titles of author(s) seen in the case study is based on their affiliation and title during the time of publication. It may or may not represent the current status of said author(s).
