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 declining SME can achieve market revitalization through entrepreneurial leadership, strategic rebranding, and product innovation. Once best known for its iconic Srichand Scented Powder, the brand faced declining relevance as consumer preferences shifted toward modern beauty and skincare products and competition intensified from both global and local brands.
This case study explores how CEO Rawit Hanutsaha, the third generation of the founding family, transformed Srichand through brand repositioning, product innovation, operational modernization, and portfolio expansion. Building on the brand’s long-standing reputation for product quality and effectiveness, Srichand successfully re-entered modern retail channels with contemporary branding, premium positioning, and a renewed value proposition. The launch of its reformulated Translucent Powder became a turning point, driving rapid revenue growth and restoring market relevance.
The study further examines Srichand’s expansion into skincare, the development of youth-oriented sub-brand Sasi, and its efforts to enter international markets such as Japan. It highlights how the company balanced heritage, innovation, authenticity, and growth while navigating evolving consumer behavior and global competition. The case provides insights into family business transformation, brand revitalization, entrepreneurial leadership, and international brand expansion.
Key Topics: Rebranding Strategy, Heritage Brand Management, Family Business Transformation, Brand Revitalization, Entrepreneurial Leadership, Product Innovation Strategy, Brand Portfolio Management, International Expansion Strategy, Beauty Industry Marketing, CEO Branding
All rights reserved. © 2026 Nikkei Business Lab Asia. No part of this publication may be copied, stored, or transmitted in any form. Copying or posting is an infringement of copyright.
Disclaimers:
(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).
