One of the members of the INNOVATION THAILAND ALLIANCE is Lion Corporation (Thailand) Limited, an innovative manufacturer of many fast-moving consumer goods and household products under brands Pao, Essense, Lipon F, Kodomo, Kirei Kirei, Shokubutsu Monogatari, GoodAge, and many others. Today, Innovation Thailand has the opportunity to talk in-depth with Mr. Chucheep Apirug, Manager of Products Research and Development, Lion Corporation (Thailand) Limited or LION, to ask why the company is considered as a leading innovative enterprise in Thailand. What are the company’s corporate and management policies? Let’s find out.
Innovation Strategy of LION
The core focus of the company’s product development policy is to “bring goodness to society and create good health for consumers”, concentrating on utilizing technology for wellness. Due to today’s “Rapid Changes in Competition”, advances in cutting-edge technology, in addition to ever increasing demands. Old ways of working may not longer works. The most important thing in leading one’s business for success is to utilize “Speedy Drive Innovation Pathway”. The company, therefore, created an innovation unit called “Research and Development Center”. This is LION HUB: Speedy Drive Innovation Pathway, or a systematic way for rapid development. This is LION’s own eco-system for intellectual property development. This has helped developed new innovations to meet with the fast-changing demands of consumers.
Interesting Innovations of the Company
The company focuses on the development of biotechnology. This is because Thailand has many raw material, natural ingredients from various local sources. Therefore, applying international research standards in utilizing these natural and local ingredients should lead to many useful products. LION started the research and development on raw ingredients extracted from herbs and plants sourced locally in 2018. This has led to development of highly concentrated Triphala extract which has been used in oral and skincare products such as SALZ Triphala toothpaste, Triphala mouthwash, and Falles Advanced Formula shampoo, for examples. This has led to the company receiving gold medal award from Seoul International Invention Fair 2018 (SIIF 2018) and has expanded to join the Thai Cosmetopoeia project under Thailand Institute of Scientific and Technological Research. In addition, the company has expanded to include new BCG Business Model (combining Bio, Circular, and Green economy into one) with the focus on leading Thailand toward the government’s “Thailand 4.0” initiative. Since then, there have been continuous development of natural plant extracts, including extractions to achieve higher value (upcycling) from leftovers of agricultural raw materials. Upcycling has led to over 150 times the values of original worth, returning more income back to the community. This encourages the youth to remaining working in the local community and continue improve their hometown’s living quality.
In addition, the company also studied chemical retention technology and researched the molecular structure of chemicals, both as singular molecule and as combined molecules. This led to increased efficiency and reduced the amount of chemicals used for the safety of consumers. The learnings from the research and development have been applied to create new businesses for the company. Examples include raw material “LIOSOME” for use in commercial storage of cosmetics, and healthy foods and supplements developed under brand ASCOR.
Joining “INNOVATION THAILAND ALLIANCE” will Help to Develop Thai Innovations
Once an alliance is formed and linked, the exchange of information will result in more innovations at faster speed. This is in line with the direction the company has planned. This is because doing research alone is time-consuming and costly. By having an alliance, the shared knowledge can be used to create new innovations. An example is a waste from one company can become a new innovation of another. This alliance of business partnerships will help to support the mother company “Thailand” to grow and prosper further.
This is the policy and thought process of Lion Corporation (Thailand) Limited that has continuously drive the corporate growth and have good products that help improve the lives of Thai people. This is a good example of an innovative organization that many companies should follow.