Polaris drinking water

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Polaris was the first bottled drinking water brand in Thailand. It was originally produced by North Star Co., Ltd., founded in 1956 by American expatriate Maxine North and deputy foreign minister Rak Panyarachun. The company grew rapidly in the 1960s when the United States stationed large numbers of diplomatic and military personnel in Thailand during the Vietnam War, and expanded to become one of the largest drinking water bottlers in Asia. It dominated the market so much that the Polaris name became a genericized trademark for bottled water in Thailand. However, it encountered internal difficulties and increased competition in the 1990s, and the company, which had been listed on the Stock Exchange of Thailand in 1994, was declared bankrupt and liquidated in 2003.

Contents

Early days

North Star Co., Ltd. was founded on 10 August 1956 [1] by American expatriate Maxine North and her Thai business partner Rak Panyarachun, who was also deputy foreign minister. They had previously established Pure Gas Co., Ltd.—a carbon dioxide producer supplying soft drink manufacturers—in 1952. [2] The gas plant had a good groundwater source for its cooling towers, which North, at the suggestion of a friend in the industry, realized could be used to introduce bottled water to the country. North says the brand name Polaris—the name of the North Star—occurred to her one night while gazing at the outside sky thinking of her late husband Robert. [3]

The business initially found few customers. Local Thais were accustomed to collecting rainwater, which was plentiful, or boiling increasingly available tap water for drinking; bottled water was seen as a needless extravagance. [4] [5] An advertisement for water subscriptions placed in the Bangkok Post (then with 3,800 subscribers) returned only three enquiries, just one of which led to a sale. [3] Customers—fifteen in the first month [5] —were mostly limited to hotels, restaurants and the expatriate community. [2]

North was unable to secure a bank loan for the initial investment, and had to rely on funding from investors in the new company, [3] in which she earned 23 percent of shares. [6] She ordered 1,200 dozens of bottles from the Owens-Illinois Glass Company [3] and imported machinery for the operation, [7] which drew water from artesian wells and filtered and treated it with chlorine. [2] [8] The business turned out to be financially successful, making a 65 percent net profit in the first year. [6] North noted in a 1957 interview, "Starting was a breeze, but there have been troubles since then in the general frustrations of a non-technical area." [9]

The United States' diplomatic and military presence in Thailand increased sharply in the 1960s as Thailand became its main base of operations in the Vietnam War. This drove up demand for drinking water and greatly benefited Polaris, which had a virtual monopoly on the market. [5] [10] By 1971, North Star was delivering 170,000 litres (45,000 US gal) daily to customers, who numbered 7,600 in Bangkok alone. [8]

Bottled water eventually found a market among Thai customers as the expanding urban middle class increasingly adopted a modern lifestyle. While several smaller producers also arose in response, Polaris continued to dominate the market, so much that the name Polaris became a commonly used genericized trademark for bottled water. [4] [11] By 1990, North Star produced 200 million litres (53M US gal) daily out of its plants in Nonthaburi, Chiang Mai and Hat Yai, making it one of the largest producers of bottled water in Asia. It also exported to Hong Kong, Australia, Malaysia, Singapore and Indonesia. [12]

Later days

North headed North Star for around thirty years, before handing off its management to Rodolfo U. Alvizo (a Filipino) in 1985. Under Alvizo, the company expanded and diversified in response to rising competition, most notably from beer producer Singha, who had made excursions into the bottled water market. [3] [12] Polaris introduced a soda water product (stepping into Singha territory), [13] and the company also licensed the French soft drink brand Orangina for the Thai market in 1993. [14]

The company was taken public in 1994, and was listed on the Stock Exchange of Thailand as North Star Public Company Limited (NSTAR). [15] However, it began exhibiting management issues the same year, which worsened as the Asian financial crisis hit Thailand in 1997. [16] The company was delisted in 1999, [17] taken into receivership by creditors, [18] and finally declared bankrupt on 2 October 2003, after which it was liquidated. [15] [19]

Polaris's exit from the bottled water market left a vacuum in which five major brands emerged to compete for market share, all operated by long-standing players in the food-and-drink business. Singha, who became the market leader after Polaris left, was joined by Crystal (produced by former Pepsi manufacturer Sermsuk), Pure Life (by Nestlé), Namthip (by Coca-Cola producer ThaiNamthip  [ th ]), and Chang (by ThaiBev, maker of Chang beer). [20] [21]

In 2015, the Polaris brand was revived under North Star International Co., Ltd., a daughter company of North Star originally set up in 1995, which had been restored to the register. However, the company soon went quiet, [22] and failed to submit financial statements to the Department of Business Development from 2016 onwards. [23]

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References

  1. ↑ "Juristic Name : NORTH STAR COMPANY LIMITED". DBD DataWarehouse+ (in Thai and English). Department of Business Development. Retrieved 15 February 2024.
  2. 1 2 3 Pauley, Gay (4 December 1962). "U.S. businesswomen is phenomenon in Thailand". The Record. UPI. p. 17 – via Newspapers.com.
  3. 1 2 3 4 5 สุปราณี คงนิรันดรสุข (June 1990). "จาก "แหม่มน๊อดท์" ผู้ให้กำเนิด สู่ "รูดี้" ผู้สานต่อฝันที่เป็นจริง". Manager (in Thai). Archived from the original on 12 October 2010.
  4. 1 2 วิภา จิรภาไพศาล (11 January 2024). "ย้อนรอยกำเนิด "น้ำดื่มบรรจุขวด" ในไทย มีตอนไหน ฮิตเมื่อไร" (in Thai). Silpa Wattanatham. Retrieved 10 February 2024.
  5. 1 2 3 Gray, Denis D. (29 April 1984). "The Oregon widow who hit it big in Thailand business world". The San Francisco Examiner. Associated Press. Travel p. 27 – via Newspapers.com.
  6. 1 2 Brinkley, William (23 December 1957). "They all say: 'Look at the American signora!' – Our women overseas". Life. Vol. 43, no. 26. pp. 73–74 – via Google Books.
  7. ↑ Beek, Steve Van (2017). "Maxine North". Thailand Tourism: The Early Days. Dusit Thani Public Company Limited. ISBN   978-616-92808-0-4.
  8. 1 2 Lilliston, Lynn (11 June 1971). "Southlander a legend: Widow a Bangkok tycoon". The Los Angeles Times. p. IV-2 – via Newspapers.com.
  9. ↑ Schroeder, Mildred (12 January 1958). "U. S. Business Methods Shown To Thailand". Palladium-Item. INS. p. 8 – via Newspapers.com.
  10. ↑ Peck, Grant (17 October 2003). "Salem native Maxine North dies". Statesman Journal. Associated Press. p. 2C – via Newspapers.com.
  11. ↑ Grossman, Nicholas (2009). Chronicle of Thailand: Headline News Since 1946. Editions Didier Millet. p. 119. ISBN   978-981-4217-12-5.
  12. 1 2 "North Star: Asia's largest water bottler expanding and diversifying". Bottled Water Reporter. Vol. 31–32. American Bottled Water Association. 1990. p. 18. Retrieved 10 February 2024– via Google Books.
  13. ↑ "ถอดบทเรียนโพลาริส – เฟรช แอนด์ ดราย แบรนด์ใหญ่ที่พยายามหวนคืนสู่ความสำเร็จ..." Brand Age (in Thai). 21 January 2019. Retrieved 10 February 2024.
  14. ↑ Phāwa ʻutsāhakam pī 2536 læ nǣonōm nai ʻanākhot (in Thai). Bansat Ngœ̄nthun ʻUtsāhakam hǣng Prathēt Thai. 1994. p. 37 – via Google Books.
  15. 1 2 "Juristic Name : NORTH STAR PUBLIC CO.,LTD". DBD DataWarehouse+ (in Thai and English). Department of Business Development. Retrieved 15 February 2024.
  16. ↑ "ดาราเหนือ'จะค้างฟ้าหรือลงดิน ฝากไว้ในมือใคร?". Manager (in Thai). 1994.
    "ดาราเหนือ'เสี่ยงติดซี โบรกจี้ผู้บริหารเร่งแก้". Manager (in Thai). 1997.
    "ดาราเหนือ'ทิ้ง'ออเรนจิน่า'ขาดทุน 3 ปี บริษัทแม่ไม่อุ้ม!". Manager (in Thai). 1997.
  17. ↑ วิรัตน์ แสงทองคำ (2013). 1997 Crisis ลอกคราบธุรกิจไทยหลังวิกฤตการณ์ ปี 2540 (in Thai). Matichon Public Company Limited. pp. 25–26. ISBN   978-974-02-1080-1 – via Google Books.
  18. ↑ "ประกาศเจ้าพนักงานพิทักษ์ทรัพย์ เรื่อง คำสั่งพิทักษ์ทรัพย์เด็ดขาด [ศาลล้มละลายกลาง คดีหมายเลขแดงที่ ๑๑๒๘/๒๕๔๕ บริษัท ดาราเหนือ จำกัด (มหาชน) จำเลย]" (PDF). Royal Thai Government Gazette (in Thai). 119 (93D): 48. 19 November 2002.
  19. ↑ "ประกาศเจ้าพนักงานพิทักษ์ทรัพย์ เรื่อง คำพิพากษาให้ล้มละลาย [ศาลล้มละลายกลาง คดีหมายเลขแดงที่ ๑๑๒๘/๒๕๔๕ บริษัท ดาราเหนือ จำกัด (มหาชน) ลูกหนี้]" (PDF). Royal Thai Government Gazette (in Thai). 120 (107D): 111. 23 December 2003.
  20. ↑ ""คริสตัล"โวเขี่ย"น้ำทิพย์-ช้าง" ดูดแชร์15%เล็งขยายไลน์สินค้า". Manager (in Thai). 17 November 2005. Retrieved 15 February 2024.
  21. ↑ "วัดพลังแบรนด์น้ำดื่ม". Positioning Magazine (in Thai). 20 February 2012. Retrieved 15 February 2024.
  22. ↑ "รู้จัก "โพลาริส" น้ำดื่มขวดขุ่น 5 บาท ต้นกำเนิดน้ำดื่มติดแบรนด์ของไทย ที่หายจากตลาดไปนานนับ 10 ปี!". SME Thailand Club (in Thai). 10 February 2024. Retrieved 10 February 2024.
  23. ↑ "ชื่อนิติบุคคล : บริษัท ดาราเหนือ อินเตอร์เนชั่นแนล จำกัด". DBD DataWarehouse+ (in Thai). Department of Business Administration. Retrieved 15 February 2024.
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