(Source: Inside Retail Asia | January 11, 2019)
Hong Kong-based healthcare and beauty retailer Watsons continues expansion and is set to launch in Vietnam on January 17, in the lower floors of the high-profile Bitexco tower in downtown Ho Chi Minh City.
The store will take up at least one floor of a two-storey space recently vacated by Topshop.
Teasing the launch, a huge backdrop with the slogan “Look good, Feel great” has been built outside the space, attracting many Vietnamese youngsters to take selfies and check in on social media.
Watsons Vietnam will compete with rival Hong Kong healthcare and beauty chain Guardian, owned by Dairy Farm International, which launched in Ho Chi Minh City in 2011.
Watsons is operated by AS Watson, a subsidiary of retail and telecommunications giant CK Hutchison which is quarter-owned by Singapore sovereign investment fund Temasek Holdings.
AS Watson has some 6,800 Watsons health and beauty stores in 12 markets in Asia and Europe, including Hong Kong, Mainland China, Taiwan, Macau, Thailand, Singapore, Malaysia, Philippines and Indonesia. The broader AS Watson group has 14,500 stores, including electrical retailers and grocery stores.
Watsons has just celebrated the opening of its 500th store in Bangkok, Thailand. The store photo accompanying this story is of Watson’s new-generation store at IconSiam in Bangkok.
Read More: Here