The company will launch around 1,000 more stores this year while reporting a sharp rise in customer engagement through its loyalty program.
The health and beauty retailer added 10 million new loyalty members last year, taking its global membership base to more than 180 million. The company attributed the growth to stronger integration between its physical store network and online channels.
Operating more than 17,000 stores across 31 markets in Asia and Europe, AS Watson said the new openings will be backed by an investment of around US$490M, covering new stores, refurbishments, technology upgrades and supply chain improvements.
The retailer also reported solid category performance last year. Health sales rose eight per cent, with double-digit growth in Europe, while beauty sales increased six per cent, supported by double-digit growth in Asia. Combined offline and online sales recorded double-digit growth for the year.
“Today, change moves faster than ever. Markets shift overnight. Technologies redefine industries. Expectations evolve constantly,” said Malina Ngai, Group CEO of AS Watson.
