Saha Pathana Inter-Holding
Saha Pathana Inter-Holding (SET: SPI) is the anchor listed holding of Thailand's Saha Group conglomerate, controlling ~200 group companies across textiles, apparel, food, household FMCG, pet food. Founded 1942 by the Chokwatana family. Apparel exposure includes Thai Wacoal lingerie license (Japanese Wacoal), Bata Thailand (footwear), and Arrow (shirts, apparel license). Also holds stakes in licensed Lux Soap, Mama noodles (via group links), and dozens of other brand-licensee JVs.
Snapshot
Headline numbers a buyer checks first.
Ticker
SET: SPI
Listed
Group companies
~200 across textiles, FMCG, food
Ongoing
Apparel
Wacoal, Bata, Arrow licensees
Ongoing
Founded
1942
Chokwatana family
What this company actually does
SPI holds ~200 Saha Group companies. Textile, apparel exposure: Wacoal Thailand (lingerie), Bata (footwear), Arrow (shirts/apparel) licensees. Also food, FMCG, pet food. Chokwatana family controlled.[]
Competitive set: Thai Wacoal, Thai Filo (textiles); other Thai apparel conglomerates. SPI differentiates on licensed-brand portfolio breadth, diversification.[]
Key holding segments and licensed brands
Thai Wacoal (lingerie)
Thai licensee of Japan's Wacoal Corporation. Market leader in Thai lingerie retail across department stores, modern trade. Listed separately on SET.
Bata Thailand (footwear)
Licensed operator of Bata brand footwear retail. Multi-channel: Bata, North Star, Sandak brands across Thailand retail network.
Arrow (apparel)
Thai licensee of Arrow brand shirts, formal apparel. Corporate gifting, department-store channel.
Food and FMCG
Interests in Mama instant noodles (via Thai President Foods adjacency), personal-care brands, household-cleaning products across the ~200 group entities.
Lawson 108 JV
Saha Group operates Lawson 108 convenience stores as JV with Lawson Japan. Differentiated by Japanese product curation vs 7-Eleven's Thai-centric offering.
Pet food interests
Stakes in pet-food manufacturing operations, a growing segment as Thailand's pet-ownership rate increases.
Saha Group — selected listed entities
Key SET-listed companies within the Saha Group / Saha Pathana ecosystem.
Thai President Foods (Mama)
Ticker
SET:TPFF
Focus
Instant noodles (Mama brand)
Saha role
Strategic shareholding
| Company | Ticker | Focus | Saha role |
|---|---|---|---|
| Saha Pathana Inter-Holding | SET:SPI | Holding company, textiles, apparel | Anchor holding |
| Thai Wacoal | SET:TWC | Lingerie, intimate apparel | Majority-owned via SPI |
| Saha Union | SET:SUC | Polyester textile, yarn | Industrial textile arm |
| Thai President Foods (Mama) | SET:TPFF | Instant noodles (Mama brand) | Strategic shareholding |
Watchpoints
Licensed-brand portfolio
Wacoal, Bata, Arrow, Lux, dozens.
Group investment performance
200+ companies; dividend, NAV.
Diversification resilience
FMCG, food hedge vs apparel cycle.
Chokwatana governance
Family control, succession dynamics.
Related Market profiles
Peers, parents, partners, agencies, and other Textile & Garment actors.
Subsidiary
Thai Wacoal Public Company Limited
Saha Group lingerie subsidiary.
Open Market profile →
Sector peer
Mae Sot Garment Manufacturing Cluster
Mae Sot's garment manufacturing cluster in Tak Province employs predominantly Myanmar migrant labour under the Thailand-Myanmar MOU framework, supplying global fast-fashion and mid-market apparel brands.
Open Market profile →
Sector peer
Saha Union (SUC)
Thai-listed diversified textile and industrial group (SET: SUC); Sukree-Bodiratnangkura family; spans spinning, weaving, garment, and industrial zipper manufacturing.
Open Market profile →
Sector peer
Sikh/Punjabi Textile Cluster Phahurat Bangkok
Bangkok's Phahurat district Sikh and Punjabi wholesale textile cluster; the largest fabric wholesale market in Thailand, known as Bangkok's 'Little India'.
Open Market profile →
Sources + data provenance
Every filing, filing-adjacent register, or trusted industry source cited in this profile.
Saha Pathana Inter-Holding (SET: SPI) FY2024 Form 56-1
| Source | Publisher | Grade | As of |
|---|---|---|---|
| Saha Pathana Inter-Holding (SET: SPI) FY2024 Form 56-1 | Saha Pathana Inter-Holding PCL | Primary | 2025-03-31 |
Reports featuring this profile
Thailand Medical-Grade Hospital Textile Export 2027 Market Intelligence
SET-listed parent of Thai Wacoal allocating THB 2.8 billion 2024 to 2027 capex into anti-microbial hospital linen, surgical wrap and isolation textile capacity at Saraburi and Chonburi plants
Open report →
Sits alongside 1 other Atlas profileThai Textile and Apparel Export: Saha Pathana, Pranda, and the USD 4-6B Garment Cluster
Thai apparel export tier-1.
Open report →
Sits alongside 6 other Atlas profilesSaha Pathana and the Chokwatana Family: Thailand's FMCG Licensing Empire and the Mama Noodle Heritage
Holding parent; Chokwatana-family.
Open report →
Sits alongside 5 other Atlas profilesThailand Cotton, Silk and Technical Textiles: Export Structure
Largest Thai listed apparel-and-textile group anchor; Saha Pathana / Wacoal / Bata cluster covers cotton apparel and textile trading.
Open report →
Sits alongside 4 other Atlas profilesThailand Textiles & Apparel Market Intelligence
Saha Group anchor holding; Wacoal, Bata, Arrow apparel licensees, ~200 group companies.
Open report →
Sits alongside 2 other Atlas profilesThailand Fashion Retail & Apparel Brands Market Intelligence
Saha Pathanapibul, Saha Group apparel, FMCG distribution.
Open report →
Sits alongside 2 other Atlas profilesThailand Personal Care & Household FMCG Market Intelligence
Saha Group FMCG distribution, multi-brand portfolio.
Open report →
Sits alongside 6 other Atlas profilesThailand Steel & Metal Products Market Intelligence
Saha Pathana distribution, industrial supply into Thai metal, steel value chain.
Open report →
Sits alongside 3 other Atlas profilesThailand Convenience Store Economics Deep Dive
Saha Pathana Lawson 108 JV operator.
Open report →
Sits alongside 4 other Atlas profilesThailand Modern Trade Private Label Deep Dive
Saha Group private-label supply, own-brand FMCG.
Open report →
Sits alongside 3 other Atlas profilesThailand Beauty, Skincare Deep Dive
Saha Group personal care, cosmetic OEM adjacency.
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Sits alongside 3 other Atlas profilesThailand Tutoring, EdTech, Cram-School Deep Dive
Saha Group corporate training, adult upskilling adjacency.
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Sits alongside 3 other Atlas profilesThailand Cosmetic OEM/ODM Export Deep Dive
Major Thai cosmetic OEM via Saha Group.
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Sits alongside 3 other Atlas profilesThailand FMCG Distribution, Wholesale Deep Dive
Major Thai FMCG distributor, own-brand, Saha Group.
Open report →
Sits alongside 6 other Atlas profiles