TCP Group's CEO announced a new corporate plan

Saravoot Yoovidhya, CEO of TCP Group, announced the new corporate purpose in Vietnam

From 2022 to 2024, TCP Group is further driving the organisation towards sustainable business growth and creating a positive impact on society and the environment, locally and globally.

"Five years ago, we announced the synergy of our various businesses into TCP Group, and we have been working towards sustainable development goals ever since. Up to now, events like COVID-19 and digital transformation have tremendously affected business, society, and the environment. We, therefore, are revisiting our purpose and strategies in every aspect to prepare for the volatile future and to create growth for the organisation while energising the sustainability of the world with a new purpose, called Energising A Better World For All,” said Saravoot Yoovidhya, CEO of TCP Group.

Throughout its over 60 years of operation, TCP Group's priority has been to ensure the development of the economy, society, and the environment that drives the corporate's long-term growth.

With the new purpose, TCP Group desires to create a positive impact in this world for everyone, assisting them to be confident, refreshed, and full of energy to pursue their life goals with the help of the following three key strategies:

Fulfilling – Energising Our Brand

Within three years, TCP Group will launch ten new products under the 'Krating Daeng' or 'Red Bull' brand to update the product's taste and image to be more modern. The group will also introduce new brands under the 'House of Great Brands' to global markets, particularly in Asia. It will develop at least five new products by exploring unmet consumer needs targeting the health and wellness market.

Growing – Energising Our Growth

With total investment plans of $340 million, TCP Group continues to penetrate Thai and global markets and increase overseas production capacity doubling the annual target revenue to $2.5 billion per year within three years (2022-2024).

The group will also increase the efficiency in the organisation with digital transformation by applying various types of technology, including data management and analysis, smart manufacturing, and data management from different omnichannel layers, as well as developing personnel to grow with technology and promote work-life integration, more seamlessly connecting work and personal life.

Caring – Energising Our Environment

With the new purpose, TCP Group is elevating its environmental sustainability initiatives by focusing on three urgent challenges. Accordingly, TCP Group is setting a goal of carbon neutrality from all working processes in Thailand and abroad by 2050.

With regards to the circular economy, the company will develop packaging to be fully recyclable by 2024. It is also working with global environmental organisations to support the collection of used-packaging components, including glass bottles, aluminium cans, and plastic bottles, putting them back into the recycling cycle.

As for water sustainability, TCP Group aims to replenish more water for the environment and communities than the company uses by 2030, increase production efficiency, and reduce water use.

The company will collaborate with partners and communities in Thailand, China, and Vietnam, where TCP Group's factories are located, to safeguard the sustainability of water resources in those locations.

Committed to long-term growth, TCP Group has always put its priority on supporting the development of the economy, society, and the environment. These values and commitments are reflected in Vietnam through practical initiatives and meaningful partnerships with local organisations that cover a diverse range of social issues. TCP Vietnam uses "Energising A Better World For All" as the guidelines to align the company's development and growth with the three above-described strategies.

For Fulfilling, in March, TCP Vietnam launched its newest product in Vietnam, Red Bull Cold-Brewed Coffee Flavour, which is exclusive to Vietnam's market. Ever since the launch, consumers warmly welcomed this new product, which carries TCP's global legacy with a flavour that is loved locally. In the future, TCP Vietnam will expand its product portfolio to satisfy even more dynamic needs of the locals, tailoring to their own needs with TCP's global standard.

For Growing, with TCP Group's "House of Great Brands", TCP Vietnam will leverage the potential of the food and beverage sector in Vietnam to expand its business and provide Vietnam customers with the best quality and product diversity.

With a commitment to develop sustainably and operate long-term in Vietnam, TCP Vietnam is committed to acting as a two-way trade bridge between Vietnam and Thailand and supporting the former's economy.

TCP Vietnam's commitment is spreading not only through business operations but also through practical initiatives and meaningful partnerships with local organisations.

These initiatives cover a diverse range of social issues. Therefore, TCP Vietnam will continue its strategic partnership with the Central of Vietnam Youth Federation and the Vietnam Young Physician Association (VYPA) to energise the youth – the critical economic forces – and inspire them with positivity.

Meanwhile, TCP Vietnam and TCP's most popular brand Red Bull will continue and enhance their strategic partnership with HAGL FC to nurture Vietnam's young talents, grow their passions, and enhance TCP's interest in prospering the local community.

Following the success of the recent football tournament in Gia Lai, Binh Thuan, Can Tho, and Ho Chi Minh City, TCP Vietnam and Red Bull hope to inspire and encourage young people to pursue their passions.

This year, the collaboration between TCP Vietnam and VYPA will take to the next level with a joint programme to conduct a post-COVID-19 medical examination and consultancy for 2,500 workers in Bac Giang, Vinh Phuc, Ho Chi Minh City, Dong Nai, and An Giang.

For Caring, TCP Vietnam will continue to scale up its activities to impact Vietnam's society and environment even more. The company has started a strategic partnership with the International Union for Conservation of Nature to organise a packaging collection programme.

The mission is to collect the company's recyclable materials, including aluminium, PET, and carton papers. From there, professional recycling businesses will recycle the collected materials. This activity is expected to ensure the traceability of the collected materials and be in line with the new Extended Producer Responsibility decree in Vietnam, which applies to six product categories, including packaging.

This collaboration is a step forward in incorporating environmental protection into TCP's working process. The programme marks another milestone in TCP Vietnam's journey to the prioritisation of sustainability and contribution to the local community.

Nguyen Thanh Huan, country director of TCP Vietnam

"Since day one in Vietnam, TCP has actively served Vietnamese consumers' diverse needs," shared Nguyen Thanh Huan, country director of TCP Vietnam. "With a growth strategy, the values inherited from TCP group, and local understanding, we could capitalise on the potential of the Vietnamese beverage industry. TCP Vietnam is confident in expanding our business and bringing more new, high-quality products to Vietnamese consumers. Additionally, we are determined to strengthen and expand partnerships with local organizations through meaningful activities, solving social problems, and spreading the positive spirit TCP stands for."

TCP Group opened the Vietnam official international office in 2018 to support domestic consumers with the best quality and well-aligned to the global standard of TCP Group. Consequently, community responsibility activities are focused on and promoted to strengthen the long-term commitment to the Vietnamese market.