It's Thai, and yes, this style of type is very common and usual just as sans serifs are for Latin typefaces.

You haven't seen latinized Thai typefaces until you've seen Big Caslon Thai.

By the way, the logo in your photo reads ‘Sansil’ (I had to cheat and look at Thai alphabet tables as I never managed to learn the full alphabet), and I realized just now that this is the Thai name for ‘Sunsilk’.

Big Caslon Thai reminds me more of Cherokee than it does of Thai.

So we can add a third option: Tsalagization.

André