This Doctor Turned $15,000 Into a $1.6 Billion Beauty Empire
- Thai firm Beauty Community outperformed majors such as L’Oreal
- Aberdeen Asset Management says stock is expensive after surge
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Thai entrepreneur Suwin Kraibhubes set up Beauty Community Pcl with his last 500,000 baht ($15,000) after the Asian financial crisis. Two decades on, the company’s shares are the top-performers globally among cosmetics providers.
The Bangkok-based firm plans to tap China’s $4.3 billion beauty sector for the next leg of expansion, after building a network of more than 300 retail outlets in Thailand and other parts of Southeast Asia. Sales growth will be vital for a stock that Aberdeen Asset Management describes as expensive.