Test-Rite Group reports robust growth

Taiwan-based home products company Test-Rite Group reports robust growth in its retail and trading units in the first half of this year.

Test-Rise had consolidated revenue of NT$3.01 billion (US$93.661 million) for June, NT$8.76 billion for the second quarter and NT$18.40 billion for the year to date.

Despite Taiwan’s macroeconomic climate slowing, the company has had major growth through developing new categories in auto and building materials.

Retail sales maintained “decent growth” of 2.5 per cent for the first half of this year, mainly from surging demand at its TLW DIY stores.

“While Taiwan real-estate prices remain high and the number of monthly transactions go south to a record low, many households turned to renovating their residences,” says the group. This led to more demand for DIY products like paint and LED bulbs.

Meanwhile, Test-Rite closed three Hola stores in China, in Beijing, Nanjing and Shanghai. Instead of expanding in China, the group is more carefully reviewing the profitability of each of its stores there. Total retail sales in China dropped because of the store closures in the first half of this year.

To keep driving sales, the group has launched a franchise model, increased investments in eCommerce, strengthened customer experiences in physical stores, and integrated merchandisers in China and Taiwan.

Test-Rite Group has 27 TLW stores, 25 Hola stores in Taiwan, and 36 Hola stores in China.

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