Sa Sa, the cosmetic retailer based in Hong Kong, plans to expand its China network by 51 per cent, aiming for a wider geographic presence.
The expansion would take its total number of stores in China to 71, says CFO Guy Look.
In a recent earnings announcement, Sa Sa in China lost US$4.9 million in fiscal year ended March 31, marking its third consecutive yearly losses. Meanwhile, Malaysian and Hong Kong markets drove a 35 per cent overall boost to HK$689.7 million (US$88.89 million) in the company’s net income.
The company said in a statement that it will deepen its relationships with mall operators and suppliers in 11 Chinese provinces where it is present.
Its e-commerce site sasa.com will further develop its mainland China online strategy, explore potential partnerships with top online shopping sites and increase product offerings.
“Our consumer base has expanded, but the turnover is not large enough. It’s more important to improve our network,” said chairman Simon Kwok.
Sa Sa operates 250 stores and counters in Asia that sell more than 600 brands of skin care, fragrance, make-up and hair care products including its own-brands and other exclusive international brands.
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