The company, which produces and sells more than 50 items of frozen ready meals and snacks for domestic and export markets, forecasts that its sales will reach 16 billion baht (THB) this year, a 55 per cent rise from last year, according to Bangkok Post.
Of the revenue, THB10 billion is expected from overseas markets, mainly from the US, where CP shrimp wonton soup sells briskly at 500 branches of Wal-Mart.
Local sales will grow significantly thanks to the a larger distribution network of about 10,000 branches – 5,800 outlets of 7-Eleven and the balance CPF's retail stores such as CP Freshmart, Chester's Grill and the Five Star Chicken franchise.
Suphat Sritanatorn, CPF's senior vice-president for marketing, said that CPF planned to launch at least 13 new food products this year, including chicken steak burgers, which were launched recently.
"We hope to see at least two pieces of the new products sold at every store every day," he said.
The company plans to spend THB5 million to promote the new products.
Besides conventional marketing, the company will beef up marketing campaigns via social networks such as Facebook and Twitter, as well as the company's web site which has about 40,000 members.
It will also accelerate sports marketing by sponsoring boxing events and tennis matches.
Last year, the company concluded a THB7.5-million deal with a leading Thai football club, Buriram PEA, which puts the CP logo on the sleeves of its jerseys.
CPF, the food flagship of the CP Group, reported sales in 2010 of THB189.04 billion and projected 10 to 15 per cent growth in revenue this year, added Bangkok Post.
CPF To Focus On More Outlets & Channels
THAILAND - Charoen Pokphand Foods (CPF) expects more distribution outlets and new marketing channels, especially social networks, will strongly drive the sales of its CP brand food products this year.
