Established Central Audio Limited Company which operates in the trading of electrical appliances.
Listed Distar Electric Corporation Public Company Limited in the Stock Exchange of Thailand primarily as a manufacturer of electrical appliances.
The Company expanded its operations into the beauty industry, concentrating on importing cosmetics, skincare, and other consumer goods for distribution through different channels under the trademark "Karmarts," all while maintaining its existing business in the natural gas vehicle (NGV) automotive sector.
Achieved annual sales growth of more than 100% in the cosmetics sector under the Karmarts trademark.
Officially updated Company’s name from Distar Electric Corporation Public Company Limited to Karmarts Public Company Limited with the Stock Exchange of Thailand.
Re-positioned Company’s core business and strategized manufacturing and distribution of cosmetic, skin care and consumer products as primary focus.
Initiated both domestic and international expansion strategies, effectively expanding local distribution networks and penetrating export markets across neighboring Asian nations.
Strengthened international distribution by forging strategic partnerships with promising business entities; Launched comprehensive product research and development initiatives through "JKOS Laboratory Company Limited," specializing in cosmetics, perfumes, beauty tools, and accessories manufacturing; Diversified investment portfolio by entering the real estate sector with "The Iconic Property Company Limited.”
Established joint venture outside Thailand territory with Karmarts Vietnam Company Limited as part of key territorial expansion plan.
On January 20, 2016, the Company effected an investment in Karmart Vietnam Company Limited, a registered entity in Vietnam, amounting to 49% of the issued and paid-up capital. This investment was recorded as a joint venture participation.
The Company commenced the construction of an additional warehouse and packaging facility aimed at enhanced quality control, cost management, shortened production lead times, and meeting market growth demands.
Rebranded Corporate logo and Karmarts shop to better position the Company and its core businesses on the international stage as well as meeting consumers’ changing preferences and demands.
Launched tailored Cosmetic Product Packing and Assembly Departments to upscale the Company’s competitiveness as an all-rounded leader in the beauty industry and build resilience towards external forces which may affect operations adversely.
The Company proceeded with the acquisition of machinery for manufacturing face masks due to the shortage of such essential items amidst the COVID-19 pandemic situation 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 Baht 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 Baht 100 per share, henceforth also positioning the entity as its subsidiary which also serves as another house brand in the beauty industry.
On January 4, 2022, Pa Donphutsa Co., Ltd. sanctioned a raise of Baht 240 million in its company's share capital (2.4 million ordinary shares of Baht 100 each). Following the capital increase, the subsidiary now boasts a registered share capital of Baht 260 million (2.6 million ordinary shares of Baht 100 each). Subsequently, on January 18, 2022, the subsidiary officially recorded the augmented share capital with the Ministry of Commerce and initiated share subscription, which was fully subscribed.
The Company disbursed Baht 206.4 million for the increase in share capital (2.064 million shares of Baht 100 each), while non-controlling interests in the subsidiary collectively contributed Baht 33.6 million for the share capital augmentation (0.336 million shares of Baht 100 each). The Company's ownership interest in this subsidiary remains at 86.00%.
On November 14, 2022, the Company's Board of Directors ratified a decision to divest 182,000 shares of Pa Donphutsa Co., Ltd. at a rate of Baht 100 per share (totaling Baht 18.2 million) to two affiliated individuals. The shares sold represent 7.00% of the subsidiary's registered and paid-up capital. Following the divestment, the Company retains a 79.00% stake in the shares of this company, thereby maintaining control over its subsidiary.
On February 28, 2022, KJF Global Co., Ltd. sanctioned a raise of Baht 9 million in its share capital (90,000 ordinary shares at Baht 100 each). Following the capital augmentation, the subsidiary's registered share capital amounted to Baht 10 million (100,000 ordinary shares at Baht 100 each). The Company acquired shares from the capital increase and fully subscribed for Baht 4.1 million (41,000 ordinary shares at Baht 100 each). Post-capital increase, the Company now holds a 51.00% stake in the shares of this company, maintaining control over its subsidiary. The subsidiary duly registered the increase in its share capital with the Ministry of Commerce on March 10, 2022.
On 24 February 2023, the Company entered into a joint investment with Miss Grand International Public Company Limited to establish KMGI Co., Ltd., with a registered capital of Baht 1,000,000, comprising 100,000 shares at a par value of Baht 10 per share. The Company holds 50% of the issued and paid-up capital. The joint venture aims to develop products, create brands, and distribute cosmetics and skincare products both domestically and internationally, in order to expand the Company’s presence in both local and overseas markets. KMGI Co., Ltd. is classified as a joint venture of the Company.
On 3 August 2023, the Extraordinary General Meeting of Shareholders resolved to approve the following matters:
- Approval of a capital reduction of Baht 1,190 through the cancellation of 1,984 unissued ordinary shares at a par value of Baht 0.60 per share. The Company registered the capital reduction with the Ministry of Commerce on 7 August 2023.
- Approval of a capital increase of Baht 132 million, from the existing registered capital of Baht 528 million to Baht 660 million, by issuing 220 million new ordinary shares at a par value of Baht 0.60 per share. The Company registered the capital increase with the Ministry of Commerce on 8 August 2023.
- Approval of the allocation of 220 million newly issued ordinary shares at a par value of Baht 0.60 per share through a private placement to two specific investors (who are related and deemed to be acting in concert), at an offering price of Baht 7.25 per share, totaling Baht 1,595 million. The details are as follows:
- Allocation of 198 million ordinary shares to Wellsiam Co., Ltd. (a company to be established in Thailand and wholly owned by Marubeni Corporation), representing 18% of the total issued shares after the capital increase.
- Allocation of 22 million ordinary shares to QPE Fund 1 Limited (a company to be established in the Hong Kong Special Administrative Region and wholly owned by Quadriga Private Equity Co., Ltd.), representing 2% of the total issued shares after the capital increase.
The Company received full payment for the shares on 11 October 2023 and completed the registration with the Department of Business Development on 12 October 2023.
2024 marked a year of significant milestones for KARMART, reinforcing its commitment to leadership, growth, and sustainability in alignment with its vision to become one of the leading branded beauty providers for everyone worldwide. In a strategic leadership transition, Mr. Wongwiwat Theekhakhirikul was appointed Managing Director, stepping up from his role as Assistant Managing Director in Business Development, ensuring strong leadership to drive the Company forward. This year also celebrated KARMART’s 15th anniversary, a testament to its long-standing presence and resilience in the beauty industry as it continues to expand its global footprint while upholding its mission to deliver top-quality products and generate enduring value for stakeholders, customers, and communities. Additionally, KARMART advanced its Environmental, Social, and Governance (ESG) initiatives, strengthening its commitment to corporate responsibility and sustainable business practices. These milestones reaffirm the Company’s dedication to innovation, operational excellence, and long-term growth, ensuring it remains a key player in the global beauty market.
Guangdong Kamellia International Company Limited
On 22 May 2025, the Company paid for the investment in a joint venture to establish Guangdong Kamellia International Company Limited with a company in China, following the approval of the Company's Board of Directors Meeting on 13 May 2025. The Company holds a 49% stake in the registered capital of the company (2.54 million ordinary shares), totaling an investment amount of RMB 2.54 million. This company operates in the production and sale of cosmetic products.
4U2 Co Company Limited
On 24 June 2025, the Company acquired shares in 4U2 Co Company Limited ("4U2") following the approval of the Company’s Board of Directors on 13 May 2025. The Company purchased 150,000 shares for a total payment which included transaction costs of Baht 677.9 million, representing 30% of the total common shares of 4U2. This company operates in the cosmetics retail business.