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Taiwan’s 86shop closing down offline stores

Taiwan’s beauty e-store 86shop has revealed to close down all of its offline stores by next year.

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Currently, there are only two stores left in Taiwan, the Eslite store and Taichung Fengjia store. The employees disclosed that the Eslite store would close at the end of September and Taichung Fengjia store in March next year.

Source: 86shop

86shop was established in 2006 where beauty products are sold through both online and offline platforms. At the beginning, the company opened up to 15 stores all over Taiwan with revenue of 1.6 billion TWD.

However, in recent years, with the increase in e-commerce companies and the import of Japanese and Korean cosmetic brands, the competition is unbearable, causing the decline in 86shop’s sales. The decline in sales growth eventually forced 86shop to shut down its offline stores.

Just last year, five of 86shop stores in the Eastern District, Xinyi District, and Shilin Night Market have been closed down one after another. Now there are only two stores left in the whole country.

86shop has been constantly trying to expand its e-commerce and actively developing its overseas e-commerce to reach more consumers. In 2017, 86shop announced its merger with ASAP Shopping Network. Unfortunately, ASAP was closed down less than a year after the merger with 86shop.

In April 2019, under the lead of PChome Chairman Zhan Hongzhi, 86shop, UNT, and PayEasy’s BeautyMaker, BeautyEasy and four other beauty brands signed an agreement to merge into one beauty company. The goal is to fight in the beauty industry together.

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Now that 86shop will soon have no physical markets, what would it do to develop in the future?

(Source: Ettoday)