On 25 July 2019, Bloomberg reported that Thailand’s After You PLC was the best-performing restaurant stock worldwide for operators with market values of at least $300 million, out pacing Chinese hot-pot chain Haidilao International Holding Ltd and and Chipotle Mexican Grill Inc. As After You nearly tripled its shares, Haidilao and Chipotle shares, in second and third, only increased by about half.
(From - Dec 24, 2016)
After You has also taken Thailand’s Market for Alternative Investment, SET’s second tier board, by storm, leading the way for the 161 small- and medium-sized firms listed.
Kulapat “May” Kanokwatanawan
After You is the brain child of Kulapat “May” Kanokwatanawan, 35, who from as early as 10 years of age, dreamt of opening a dessert café. She would collect recipes from books and cooking shows and then work to perfect her craft, or some would say artistry. She begged her father to let her start her business, but he asked her to first complete her studies, which she did in Australia.
Meanwhile, she published a series of dessert cookbooks, May Made, and as these quickly became popular, she won her father over, who provided the needed capital, 2 million baht, to open her first Japanese-style After You Dessert Café in 2007 in Thonglor.
Working with her cousin, Maetup T. Suwan, who now serves as the company’s managing director, After You has grown to include 36 restaurants serving desserts and beverages nationwide. In addition to the many spread around Bangkok, they have cafés in Chiang Mai, Udon Thani, Nakhon Ratchasima (Korat), Pattaya and Phuket, with plans to expand to important cities in countries around the region. As part of their expansion planning, the company is offering franchise agreements to interested investors.
Shibuya Honey Toast From AFter You
Since After You first opened, one of May’s most important marketing tools has been her monthly specials. Now with a research and development team, they continue to experiment, creating new monthly specials to add to their list of signature sweets if they become popular. One of her first, Shibuya Honey Toast, has remained at the top of this list since it was first introduced 12 years ago.
In 2014, After You opened its first hybrid, Crumb Ice Cream by After You at Central Embassy, which specializes in creative ice cream desserts. Next, it branched off into the Japanese Shaved Ice market, launching a shop under the brand Maygori at Siam Square One in 2016 also with plans to expand, and a year later, in 2017, the company opened the first After You Durian at Siam Paragon where durian lovers are treated to a menu of inventive desserts with their main ingredient durian.
Sticky rice durian toast From After You