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Watsons to roll out 500 more stores
By Wang Yanlin |
15:29 UTC+8 November 24, 2009
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THE A.S. Watson Group, a wholly owned subsidiary of Hutchison Whampoa Ltd, will accelerate the expansion of Watsons stores in the mainland, senior company executives said today in Shanghai.
The group will open another 500 Watsons stores in the next two years to tap China's fast growing market for health and beauty products. The total number of Watsons store will reach 1,000 by then and cover 100 cities in the Chinese mainland.
"China will become the world's biggest market for health and beauty products," said Martin So, chief executive officer of health and beauty Asia at the A.S. Watson Group. "China is a strategic market for Watsons stores and its weight will grow stronger with the country's fast growing economy."
Entering the Chinese mainland 20 years ago, Watsons Your Personal Store has become the largest health and beauty retailer in China, with a network of 500 outlets in 80 cities at the moment.
"We are now expanding at a pace of opening five new stores each week, equal to opening one store every working day," said Christian Nothhaft, managing director of Watsons stores Chinese head office.
He said the sales in Watsons stores in China grew at a rate of more than 25 percent in the first three quarters, much faster than in other Asian markets including Japan and South Korea.
The group will open another 500 Watsons stores in the next two years to tap China's fast growing market for health and beauty products. The total number of Watsons store will reach 1,000 by then and cover 100 cities in the Chinese mainland.
"China will become the world's biggest market for health and beauty products," said Martin So, chief executive officer of health and beauty Asia at the A.S. Watson Group. "China is a strategic market for Watsons stores and its weight will grow stronger with the country's fast growing economy."
Entering the Chinese mainland 20 years ago, Watsons Your Personal Store has become the largest health and beauty retailer in China, with a network of 500 outlets in 80 cities at the moment.
"We are now expanding at a pace of opening five new stores each week, equal to opening one store every working day," said Christian Nothhaft, managing director of Watsons stores Chinese head office.
He said the sales in Watsons stores in China grew at a rate of more than 25 percent in the first three quarters, much faster than in other Asian markets including Japan and South Korea.
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