Aitthipat Kulapongvanich, 28-year-old (born in 1984), is one of Thailand's most well-known seawed brand "TaoKaeNoi" founder and chief executive officer. His not only same age with Mark Zuckerberg and two of them also start up their superstar business which is founded in 2004. In 2010 and 2011, the total turnover of TaoKaeNoi is more than one billion baht (approximately RM 1 billion). Since 2010 until today, the growth rate as high as 30%. It is not only the No.1 brand of seaweed in Thailand and it also exported to over 20 countries. Now, his story was made into a movie name “Top Secret of Young Billionaire” to explore the road of his legendary seaweed business.
Story of TaoKaeNoi
You might not hear the name of Aitthipat Kulapongvanich but you must recognize and eaten TaoKaeNoi seaweed from Thailand. When it comes to young entrepreneurs, founder of Facebook Mark Zuckerberg is the world's most famous young entreprenuer currently. Mark Zuckerberg wrote the entrepreneurial legend in the U.S. Nevertheless, Aitthipat Kulapongvanich also create the history of the new born young entrepreneur in Thailand . During the age of 20, Aitthipat Kulapongvanich introduction the fried thick slices seaweed from traditional Thai shop and China. He transformed it into Thai snacks and the price is much cheaper than Japanese and Korean seaweed. In addition, TaoKaeNoi conquered up to 80% of market share in Thailand and increase its overseas markets to more than 20 countries. His short-term goal is let every Asians know TaoKaeNoi is the number 1 seaweed in Asia in the first five years. Besides that, his long-term goal is to let the world recognize the brand of TaoKaeNoi!
Love truancy, Play video games, and Fail in the road of entrepreneur
Aitthipat Kulapongvanich originally just love truancy and play video games. He is a rebellious youth. Although his parents’ business hit by the financial crisis 1997, but he relying on the sale of online games’ treasure and earn 400k baht per month (equivalent RM40k). He able to living by does not have to take the pocket money from his parents. However, his family’s financial getting worse and worse. In 2002, his family declared bankruptcy and in debt up to 40million baht. He no longer "stays out" from this problem anymore. Therefore, he quit the school to the world of entrepreneur in order to reverse his family's financial issues.
The most uncomfortable day in life is he saw his mother crying because creditors chasing back home. He asked himself “What should I do?” Aitthipat Kulapongvanich(18 years old) walking in Chinatown in Bangkok. He observed many Chinese Thais like to eat sugar fried chestnut, but only can get it in Chinatown. He wondered if introduce the chestnut to shopping mall that people frequently go, it’s so convenient to have it. Therefore, he had the first business idea. Aitthipat Kulapongvanich decides aim for Chinese Thais marketing and it became hot. Within a year and half, he opened 30 chestnut stores in Thailand's largest hypermarket TESCO Lotus and Big C. Nevertheless, new CEO of TESCO Lotus ordered Aitthipat Kulapongvanich cannot sell his chestnut in the stores because of the odor impact in the mall environment. By the force of management, he asked people fried at outside and then sent to the stores, but the taste is bad. Business volume was straight forward cut into half. Aitthipat Kulapongvanich force to find another way out. Besides than selling chestnut, he found that seaweed was one of the hot selling items and decided to aim the Thailand's fledgling seaweed consumer market. A 20 years old boy faces a lot of continuous and able to stand up. He shared about his view of positive attitude "The challenge for me is opportunity; let myself develop own ability and learn to grow up." In order to expand the customer base, he decided create his own brand and locked the leading convenience store 7-ELEVEn in Thailand as the path of marketing the product. The name of Tao Kae Noi is come from his father’s laughed "our son wants to be a Tao Kae Noi!”
The most uncomfortable day in life is he saw his mother crying because creditors chasing back home. He asked himself “What should I do?” Aitthipat Kulapongvanich(18 years old) walking in Chinatown in Bangkok. He observed many Chinese Thais like to eat sugar fried chestnut, but only can get it in Chinatown. He wondered if introduce the chestnut to shopping mall that people frequently go, it’s so convenient to have it. Therefore, he had the first business idea. Aitthipat Kulapongvanich decides aim for Chinese Thais marketing and it became hot. Within a year and half, he opened 30 chestnut stores in Thailand's largest hypermarket TESCO Lotus and Big C. Nevertheless, new CEO of TESCO Lotus ordered Aitthipat Kulapongvanich cannot sell his chestnut in the stores because of the odor impact in the mall environment. By the force of management, he asked people fried at outside and then sent to the stores, but the taste is bad. Business volume was straight forward cut into half. Aitthipat Kulapongvanich force to find another way out. Besides than selling chestnut, he found that seaweed was one of the hot selling items and decided to aim the Thailand's fledgling seaweed consumer market. A 20 years old boy faces a lot of continuous and able to stand up. He shared about his view of positive attitude "The challenge for me is opportunity; let myself develop own ability and learn to grow up." In order to expand the customer base, he decided create his own brand and locked the leading convenience store 7-ELEVEn in Thailand as the path of marketing the product. The name of Tao Kae Noi is come from his father’s laughed "our son wants to be a Tao Kae Noi!”
Find the right merchandise and pathways, Struggling until SUCCESS
Aitthipat Kulapongvanich’s efforts and perseverance has nothing different from other successful entrepreneurs, but Tao Kae Noi has hundred millions of sales is because of 7-ELEVEn’s boost up in Thailand. He shared his experience to approach 7-ELEVEn. Management ignores his proposal and brutally criticized the“packaging is too ugly". At that time, his propose the seaweed that only with plastic bags and stickers pasted outside, just like sold at vegetable market. Of course, it doesn’t attract 7-ELEVEn. He spent around two months to modify the packaging design. Finally, he received the good news. “7-ELEVEn say they are interested and asked whether I willing to sell my seaweed in 3,000 stores?" Although he gets the huge orders, he failed to breathe a sigh of relief because of the production test. Without any food production line management experience, he must financing to set up the factory and get the products passed the GMP certification as 7-ELEVEn’s requirements in two months. He writes the proposal to applying for the loan, but the bank refused because he was too young. He had no choice to sell his chestnut business to fund-raising for Tao Kae Noi. In both plant operations and food certification, he completely relies on self-learning and step by step to cross the obstacles. At the end, he passes the test. The most important is to have the right mindset. You have to believe in yourself that you can do it and willing to struggle for it. He said if I waiting to raise enough capital to start up the business, perhaps I did not have such a great opportunity.
Start up business just like playing video games, persist in break-off is the WINNER
Aitthipat Kulapongvanich would like to share “Life is very short, find something you like as soon as possible and do not blindly listen to others. You want to listen to your own voice and never lost your own heart.” Nobody agree with his suspension of University. During he faced the chestnut career downturn, he has once thought of give up, but because of enthusiasm and support of his family, he finally did not flinch. Business is like playing video games, clear every stage and move forward to be the winner. But we must continue to play it and never give up. Currently, Tao Kae Noi has 18 stores in Bangkok, Thailand. He has been prepared listed in the Thai stock market and expected to complete the job either this year to next year. From the video game kid to billionaire, Aitthipat Kulapongvanich rewrites the imagination of the average person on the path of entrepreneur again. Tao Kae Noi is step by step towards the road of“Big Tao Kae Noi”.
Aitthipat Kulapongvanich would like to share “Life is very short, find something you like as soon as possible and do not blindly listen to others. You want to listen to your own voice and never lost your own heart.” Nobody agree with his suspension of University. During he faced the chestnut career downturn, he has once thought of give up, but because of enthusiasm and support of his family, he finally did not flinch. Business is like playing video games, clear every stage and move forward to be the winner. But we must continue to play it and never give up. Currently, Tao Kae Noi has 18 stores in Bangkok, Thailand. He has been prepared listed in the Thai stock market and expected to complete the job either this year to next year. From the video game kid to billionaire, Aitthipat Kulapongvanich rewrites the imagination of the average person on the path of entrepreneur again. Tao Kae Noi is step by step towards the road of“Big Tao Kae Noi”.
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