Healthy expansion for Watsons

Central Watson Co has announced plans to open 100 new stores in Thailand, including 43 this year.

Toby Anderson, managing director of the country's top retail health and beauty chain, said another 43 Watsons are planned for next year at a cost of 300 million baht, on a par with this year's budget.

The openings will see 400 new jobs created in each of the two years, with the same number hired by the company's business partners.
This year's 43 openings, a record for the company, represent an increase from an earlier projection of 24.

Mr Anderson said the higher number of openings is due to greater confidence after better-than-expected performance data.

In the past 12 months, sales in Watsons' core product categories grew by 9.3%, while the overall health and beauty market grew by only 5.9%.

More importantly, Watsons has commanded the highest sales of any retail health and beauty business for the past seven years.

The company has earmarked 250 million baht to open 15-20 new Watsons in the fourth quarter.
Part of the money will go towards sales promotions and research into customer behaviours.
Mr Anderson said Central Watson has made preparations to protect its Lop Buri branch from the heavy flooding that is now plaguing that province.

He said the twin economic crises in Europe and the US are having both negative and positive effects on the Thai economy.

"But we're confident of higher profitability. Health and beauty products will continue to see healthy growth in Thailand due to the increasingly ageing population," Mr Anderson added.

reference  http://www.bangkokpost.com/news/health/259591/healthy-expansion-for-watsons