Watsons, which is the main health and beauty brand of A.S. Watson Group, has opened over 1,400 new stores across Asia during the pandemic.
Despite the pandemic over the past three years, Watsons, which is the main health and beauty brand of A.S. Watson Group, has continued to expand its business. As compared to 2019, before Covid-19, Watsons has opened more than 1,400 new stores across Asia. The beauty retailer recently announced the grand opening of its 700th store in Malaysia.
The new Watsons store located in the prime area of Klang is the largest in the district, covering over 4,000 square feet. With a population of over 1 million in the royal town, the new store is expected to better cater to the needs of the local community.
Despite the challenges posed by the pandemic, Watsons Malaysia has expanded its business from 535 outlets in 2019 to 700 stores at present.
Dominic Lai, Group Managing Director of A.S. Watson Group, said: “As one of our fastest-growing markets in Asia, we are thrilled to announce the launch of Watsons’ 700th store in Malaysia. Watsons will continue to develop and adapt to being the leading retailer in health and beauty products to fulfil customers’ shifting needs and achieve excellence in offering an unmatched O+O customer experience. We will continue this growth path with our customers and build an improved tomorrow for all of us together with an unwavering sense of purpose and a commitment to ensuring that our customers Look Good, Do Good, and Feel Great.”
While in mainland China, according to the financial report, Watsons’ worldwide revenue in 2022 amounted to HK$169.6 billion ($21.61 billion), with China’s market revenue at HK$17.58 billion ($2.23 billion), recording its worst performance in nearly five years. And its EBITDA (earnings before tax, interest, depreciation, and amortization) decreased by 59% to HK$1.09 billion ($138.9 million). The number of stores also decreased by 8%, or 343 shops, from 4,179 in 2021 to 3,836. Additionally, the store sales declined by 18.3% year on year.
NEWS, CHINESE BRANDS