Watsons boosts Philippine business
Health and beauty retailer Watsons plans to roll out 50 new stores annually across the Philippines to boost its market share.
The Watsons Philippine business is a joint venture between SM Prime and Hong Kong’s AS Watson of the Hutchison Whampoa Group.
Watsons plans to increase its store count in the country from 382 at the moment to 410 by the end of the year.
The expansion is aimed at increasing its current six per cent market share by one per cent annually.
Watsons Philippines health business director Danilo Chiong said the company will also widen its selection to consumers and improve customer service levels to draw higher footfall.
The chain competes with the country’s leading health and beauty store Mercury Drug, which holds more than 50 per cent market share.