Nippon Paint targets 20% hike in sales to B12bn

Nippon Paint Decorative Coatings (Thailand) Co, Asia's largest paint manufacturer, wants sales to increase by 20% to 12 billion baht this year, driven by a strategy focusing on the re-coating market and building renovation sector.

- KANANA KATHARANGSIPORN

Watchara Siriritthichai, the company's general manager, said this shift aims to mitigate the impact of last year's slowdown in the low-rise housing market.

To achieve 12 billion baht in sales, Nippon is focusing on two areas: the recovering condo market and building renovation, as many ageing buildings are in need of re-coatings, including those seeking green building specifications.

"Painting costs for low-rise houses typically break down to 70% labour and 30% paint. For high-rise build-ings, labour costs are even higher," said Mr Watchara.

He said that investing in high-quality paint is more cost-effective in the long run.

"Frequent repainting isn't economical labour and not the paint make up the bulk of the cost," said Mr Watchara.