Beauty retailer AS Watson, owner of retail chains such as Kruidvat, Superdrug, Rossmann, ICI Paris XL, and The Perfume Shop, plans to open approximately 1,000 new stores worldwide this year.
Ten million members
AS Watson, which currently operates more than 17,000 stores in 31 markets in Asia and Europe, is allocating an investment budget of approximately $490 million (€422 million) not only for opening new stores but also for renovating existing locations and improving the supply chain. The group announced this in a press release.
Last year, the company saw 10 million new members join its loyalty program, bringing its global membership to an impressive 180 million. This growth is due to the successful integration of its network of physical stores and online platforms, AS Watson says.
AS Watson, founded in Hong Kong in 1841, is celebrating its 185th anniversary this year. According to recent reports, Hong Kong-based owner group CK Hutchison has appointed investment banks Goldman Sachs and UBS to prepare a planned IPO for its retail subsidiary.
