The Heritage - Charoensin Group

History

Charoensin Group commenced operations in Thailand in 1932, originating from a family of Chinese descent with extensive expertise in trade. The first-generation leaders established the business based on fundamental principles of integrity, perseverance, diligence, and commitment—values that have remained integral to the company’s continuous growth and development.

Entry into the Leather Industry

In 1945, Charoensin Group founded its first tannery as a family-run enterprise, marking a significant milestone in the development of Thailand’s manufacturing sector. With the vision and dedication of the second generation leaders, the business expanded steadily, eventually diversifying into the production of finished leather footwear under two well-recognized brands:

Manwood – Specializing in durable leather shoes designed for formal occasions.
Pangolin – Renowned for high-quality safety footwear.

The group later extended its operations into related industries, including synthetic fibers, chemicals, rubber, and consumer products, while also successfully entering international markets—achieving sustained growth across various sectors.

Transition to a Publicly Listed Company

In 1994, Charoensin Tannery was officially listed on the Stock Exchange of Thailand under the name “CPL Group Public Company Limited.” This transition represented a pivotal step towards aligning business operations with global standards and expanding international outreach.

The group continued to evolve beyond its original success by venturing into the real estate development industry through Charoensin Asset Co., Ltd. The company pioneered Thailand’s vertical rental housing model, constructing one of the country’s first five-story residential buildings. The inaugural project, “Samruang Condo”, housed 1,700 units to accommodate workers in Bang Pu Industrial Estate. Today, Charoensin Asset oversees 25 projects, encompassing over 40,000 rental units across ten provinces: Samut Prakan, Chonburi, Chachoengsao, Prachinburi, Samut Sakhon, Lamphun, Phetchaburi, Rayong, Nakhon Ratchasima, and Phuket.

Third-Generation Leadership: Expanding Global Networks

The third generation of Charoensin leadership has played a key role in propelling the organization into the international market through strategic negotiations, trade agreements, and partnerships with stakeholders across multiple regions, including East Asia, the Middle East, Africa, Europe, Australia, South America, and the United States. The company prioritizes strategic joint ventures with international partners to enhance business capabilities, technological advancements, and manufacturing efficiency. Some notable initiatives include:

Applied DB Public Company Limited (ADB) – Formed through the merger of DB Chemical Industrial Co., Ltd. (Thailand) and Applied Chemical Industry Co., Ltd. (Taiwan), specializing in adhesive and plastic compound production. Listed on the Market for Alternative Investment (mai) in 2017.
Eagle Chemical Industry Co., Ltd. – A joint venture between Charoensin Group and Taiwanese partners, focusing on chemical solutions for the leather and textile industries. Currently operates as a one-stop service provider for leading global brands.
CS Mitsufuku Elastomer Co., Ltd. – A Thai-Japanese joint venture producing fluorocarbon rubber (FKM)—a high-demand industrial material. The company aims to enhance domestic production technology and establish itself as a regional leader in premium-quality FKM manufacturing.

Across its subsidiaries, Charoensin Group adheres to internationally recognized quality and environmental standards, including:

ISO 9001:2015 – Quality management system
ISO 14001:2004 – Environmental management system
ISO/TS 16949 – Automotive industry quality management system

Fourth-Generation Leadership: Advancing Innovation and Sustainability

The fourth generation of Charoensin leadership is preparing to embrace executive roles with a modernized global perspective, integrating digital technology, artificial intelligence (AI), and data analytics into organizational management. This approach enhances operational efficiency, reduces costs, and creates new business opportunities by leveraging AI and Big Data for :

Customer behavior analysis to develop market-driven products
Precision supply chain management
Economic trend forecasting for proactive business strategies
Real-time financial and risk management using intelligent systems

Additionally, the fourth-generation leadership focuses on business model innovation aligned with the green economy and sustainable business practices, ensuring long-term growth amid evolving global competition.