The A.S. Watson Group plans to open 1,400 new outlets globally this year – 60 shops will be in Hong Kong – but it will not expand the electricity group Fortress, says chief operating officer Malina Ngai Man-lin.
The group doesn’t have a plan for an initial public offering for the moment, Ngai added.
Watson plans to invest HK$500 million in the next three years to improve its technology platform as well as enhance big data analysis.
Managing director Dominic Ngai Kai-ming said MoneyBack, a member reward program under the Watson Group, has been rebranded with a new mobile app, which allows member to manage their accounts more conveniently.
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The scheme has rewarded points with a value equivalent to HK$800 million to their members since the establishment in 2007.
Meanwhile, Hong Kong retail sales growth turned positive in May, up 1.8 percent year-on-year, said a Mastercard report.
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The increase in grocery sales and the health and beauty sector were the strongest. Groceries were up 2.3 percent and health 5 percent, driven mainly by domestic consumption.
Jewelry sales fell 44 percent in May, which was below the 2013 level. “Discretionary sectors historically driven by tourist spending continue to be a drag, despite stabilization and some recovery in visitor arrivals in recent months,” the group said.
(Source: The Standart)