Commenced import of cosmetic, skin care and other consumer products for distribution in various channels under “Karmarts” trademark, and concurrently operated automobile and NGV businesses which were launched in previous years
Achieved annual sales growth exceeding 100% in “Karmarts” cosmetic business
Officially updated company’s name from Distar Electric Corporation Public Company Limited to Karmarts Public Company Limited with the Stock Exchange of Thailand
Strategized manufacturing and distribution of cosmetic, skin care and consumer products as primary business
Expanded distribution channels and ventured into export markets with Asian countries as key focus
Enhanced overseas distribution through strategic alliances with high potential business partners; Commenced product Research and Development under “JKOS Laboratory Company Limited” which focuses on manufacturing of cosmetic, perfume, beauty appliances and accessories; Embarked real estate business with “The Iconic Property Company Limited” as an alternative to the company’s investment portfolio
Established joint venture with Karmarts Vietnam Company Limited as part of key expansion plan
On 20 January 2016, the Company paid for an investment in Karmarts Vietnam Company Limited, registered and established in Vietnam, in a total of USD 98,000 or approximately Baht 3.56 million. As a result, the Company holds 49% of the issued and paid-up shares of USD 200,000 in this company. The Company has recorded the investments in this company as investments in joint venture since the investment date. This company’s operation period is 50 years, starting from the date of incorporation, 9 October 2015.
Added on warehousing facility and set up additional cosmetics packaging and assembly factory to gain more control over quality, capital and production time to better respond to the rising growth in the market.
Achieved modernized look by rebranding the Corporate logo and Karmarts shop to better position the Company and its core businesses as well as meeting consumers’ changing preferences and demands.
Established Cosmetic Product Packing and Assembly Departments to further enhance the Company’s competitiveness and build resilience towards any external event which may produce adverse effects on operations.
Acquired production machinery and commenced the production of surgical mask due to the shortage of mask in domestic market which is an essential tool in preventing and mitigating the ongoing outbreak of novel coronavirus (COVID-19) in early 2020.
On 15 October 2021 and 12 November 2021, the Company invested in Pa Donphutsa Company Limited through the purchase of 200,000 shares at par value of THB 100 per share. With that, the Company now holds 86% of the issued and paid-up shares, and officially positioned this entity as its subsidiary in the environmental protection industry. On 11 November 2021, the Company also paid for an investment in KFJ Global Company Limited, acquiring 99% of the issued and paid-up shares of 100,000 shares at par value of THB 100 per share, henceforth also positioning the entity as its subsidiary which also serves as another house brand in the beauty industry.
On 4 January 2022, Pa Donphutsa Co., Ltd. approved an increase of Baht 240 million in share capital of its company (2.4 million ordinary shares of Baht 100 each). After an increase in capital, the subsidiary has the registered share capital of Baht 260 million (2.6 million ordinary shares of Baht 100 each). On 18 January 2022, the subsidiary registered the increase of share capital with the Ministry of Commerce, and called for share subscription in full.
The Company paid Baht 206.4 million for the share capital increase (2.064 million shares of Baht 100 each) and non-controlling interests of the subsidiary paid a total of Baht 33.6 million for share capital increase (0.336 million shares of Baht 100 each). The Company still holds 86.00% in shares of this company.
On 14 November 2022, the Company's Board of Directors passed a resolution to approve a sale of shares of Pa Donphutsa Co.,Ltd. total 182,000 shares with a sale price of Baht 100 per share (Baht 18.2 million) to two related persons. The number of shares sold represented 7.00% of the registered and paid-up capital of the subsidiary. After sale of such investment, the Company holds 79.00% in shares of this company and remains control over this subsidiary.
KJF Global Co., Ltd. was registered as a company on 2 December 2021 with a registered share capital of Baht 1 million. The Company acquired 9,997 ordinary of Baht 100 each shares and the non-controlling interests of the subsidiary acquired 3 ordinary shares of Baht 100 each of this company on 2 February 2022, and paid share subscription in full.
On 28 February 2022, KJF Global Co., Ltd. approved an increase of Baht 9 million in its share capital (90,000 ordinary shares of Baht 100 each). After the increase in capital, the subsidiary has the registered share capital of Baht 10 million (100,000 ordinary shares of Baht 100 each). The Company acquired shares of share increase and paid share subscription of Baht 4.1 million (41,000 ordinary shares of Baht 100 each). After the capital increase, the Company holds 51.00% in shares of this company and remains control over this subsidiary. The subsidiary registered the increase of its share capital with the Ministry of Commerce on 10 March 2022.
On February 24, 2023, the Company, in conjunction with Miss Grand International Pub Co., Ltd., established KMGI Co., Ltd., a joint venture with a registered capital of 100,000 shares priced at Baht 10 each, totaling 1,000,000 Baht. The Company holds 50% of the issued and fully paid capital of Baht 5,000,000. The objective on the venture was to develop products, create brands, and distribute cosmetics and skincare products domestically and internationally, thus expanding market presence and reach.
At the ordinary shareholders' meeting held on August 3, 2023, the Company obtained approval to reduce the Company's capital by Baht 1,190, by cancelling 1,984 unissued ordinary shares valued at Baht 0.60 per share. An increase of the Company's capital by Baht 132 million, from the original registered capital of Baht 528 million to a new registered capital of Baht 660 million, by the way of issuing 220 million new ordinary shares at Baht 0.60 per share, was also approved at the same meeting. Paving the way for a Private Placement, these two transactions were registered with the Ministry of Commerce on August 7, 2023 and August 8, 2023 respectively.
2023 can be said to be an extremely significant milestone for the Company with the execution of a Private Placement to two entities (related parties) in a limited quantity, both of which are expected to bring great values to the Company strategically. Approval for the allocation of additional ordinary shares amounting to 220 million shares, valued at Baht 0.60 per share, was the last agenda in the forementioned meeting. The shares were offered at a price of Baht 7.25 per share, totaling Baht 1,595 million. Specifically, there was an allocation of 198 million ordinary shares to Wellsiam Co., Ltd. (a company to be established in Thailand, wholly owned by Marubeni Corporation), representing 18 percent of the post-increase share capital, and an allocation of 22 million ordinary shares to QPE Fund 1 Limited (a company to be established in the Hong Kong Special Administrative Region, wholly owned by Quadriga Private Equity Co., Ltd., representing 2% of the post-increase share capital. Full payment for the subscribed shares was received on October 11, 2023, and registration with the Department of Business Development was completed on October 12, 2023.