Thai energy drink maker Carabao Group is preparing to mount a full-on challenge to the country’s two dominant beer brands, Singha and Chang, as changing consumer tastes and the easing of brewing restrictions create an opportunity to break into the market.
“Carabao will be known as Thailand’s third largest beer company,” Sathien Setthasit, the company’s CEO, said in an interview with Nikkei.
The company aims to capture 10% of the domestic market in 2024 and increase that to 20% within three to five years.
The company, whose flagship Carabao Dang beverage is the second most popular energy drink in Thailand, aims to reach 40 billion baht in annual beer sales in the next three to five years.
In the battle of the labels, Carabao’s water buffalo logo will take on Chang’s elephants and Singha’s mystical golden lion. Source: Nikkei Asia
