in retail requires repositioning for stronger E-commerce business as people shop more online. Rising rent per square feet can affect the Company’s ability to secure best locations and generate higher

laws. Foreign exchange with strong dollar can affect licensed partners from purchasing larger quantity of private label and DEAN & DELUCA products. Lower foot traffic in retail requires repositioning for

overall domestic sales. A success of Som In-sum repositioning in late 2017 has continued to grow the sales contribution in 2018 by 109.1% YoY. Moreover, the recently launched Chalarm Black Galingale in

at THB 11,064.7 million or THB 124.1 million lower than 9M17 (or -1.1% YoY) due to high promotion of M-150 and Lipovitan-D last year. However, a successful repositioning of Som In-Sum in late 2017 has