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The first Watsons store in China opened in April 1989. Located in Beijing's newly opened Palace Hotel, the shop's products were all shipped from Hong Kong, and were therefore for sale in foreign exchange certificates only. Watson's management thus expected the shop's customers to mainly comprise foreign tourists.
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AS Watson Group (or AS Watson or ASW) is the world's largest international health and beauty retailer by number of stores, with over 16,500 stores in 28 markets, primarily in Asia and Europe. [1] A member of CK Hutchison Holdings, ASW operates the world's largest portfolio of retail formats, retail brands and has the largest geographical presence.
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In Europe, ASW's retail network comprises health and beauty chains: DC, Drogas, Kruidvat, Rossmann, Savers Health & Beauty, Superdrug, Trekpleister [fr; nl], Spektr and Watson's, as well as luxury perfumeries and cosmetics retail brands: Marionnaud, ICI Paris XL and The Perfume Shop. A.S. Watson is the world's largest health and beauty retailer.
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This compares to 10.5% for the UK. On average across China the share is lower at 3%, but internet penetration is growing rapidly so this number is expected to increase. [3] [4] A recent study shows that in China, online shopping benefits rural residents statistically by enhancing their living standards. [5]