Myrex (Thailand), a renowned global manufacturer in the cookware and bakeware industry, has boldly re-entered the stainless steel segment after a 25-year hiatus. This strategic move is marked by the launch of two premium product lines under the MEYER brand: the White Steel Series and the Luna Series. These new offerings represent Myrex’s renewed commitment to innovation, quality, and sustainability, positioning the company to achieve a 15% growth in sales by the close of 2024.
Joseph Lo, General Manager and Director of Meyer Industry Limited and Myrex (Thailand), has outlined an ambitious vision to reinforce the company’s stature as a global leader in cookware technology. Operating from Thailand’s Laem Chabang Industrial Estate, Myrex boasts a robust production capacity of over 150,000 pieces daily. In 2023, the company reported a remarkable 30% increase in sales, attributing this success to a combination of deep consumer insight analysis, an aggressive expansion into online sales channels, and strategic collaborations with retail giants. Notably, the launch of special collections, such as the Mickey and Minnie Mouse series for Disney's 100th anniversary, played a crucial role in driving this growth.
The MEYER White Steel and Luna Series are designed to cater to the evolving needs of home cooking enthusiasts across all generations. These products feature premium-grade materials, classic designs, and functional innovations, such as heat-resistant handles and a three-layer induction base for even heat distribution. Additionally, they are made from Zero Nickel Stainless Steel, ensuring they are entirely toxin-free, thereby addressing growing consumer concerns about health and safety in cooking.
Looking forward, Myrex aims to achieve a balanced distribution of sales across both offline and online channels by 2025. This aligns with the broader market trend, where the Thai kitchenware sector is projected to grow by 2-5% by 2025, driven largely by an increase in health-conscious consumers and the rising popularity of home cooking. To capitalize on this growth, Myrex has committed to substantial investments in strategic marketing, brand reinforcement, and the development of sustainable products.
To support its ambitious growth targets, Myrex is allocating over 30% of its sales target budget towards attracting new customers while simultaneously strengthening relationships with existing ones. The company’s branding efforts will be spread across a variety of media and social platforms, with a particular focus on influencer partnerships and word-of-mouth marketing. These efforts are designed to enhance Myrex’s visibility and appeal in a competitive market.
Sustainability remains at the core of Myrex’s long-term strategy. The company is steadfast in its commitment to achieving Net Zero production by reducing greenhouse gas emissions and implementing robust Corporate Social Responsibility initiatives. This eco-conscious approach not only meets the growing consumer demand for sustainable products but also positions Myrex as a leader in environmentally responsible manufacturing.
