WORRIES about the economy may run high, but not for the beauty and wellness industry.

“To be honest, we’re not very concerned about inflation affecting our sales,” said Robert Sun, chief operating officer of retailer Watsons Personal Care Store Philippines Inc. (Watsons) during the company’s Men’s Zone culmination event held Friday.

He said Filipinos keep purchasing beauty and hygiene products despite current economic conditions which is why Watsons is proceeding with plans to open 20 new stores this year with about 15 of these planned for Metro Manila and rest in major cities across the country.

He said this will help in Watsons achieving a 14-percent sales growth for 2008, similar to their 2007 performance. He said they also expect sales to grow because of their newly established men’s zone, an area within Watsons outlets devoted to products targeted for men.

“Men traditionally compose about 3 percent of our business but we expect this grow by about 25 percent this year,” the company executive said. Watsons total Philippines sales for 2007 amounted to some P10 billion, mostly driven by women skin-care products such as their whitening lotions, soaps and creams.

Watsons Personal Care Store Philippines Inc. is a joint venture between the SM Group of Companies and A.S. Watsons Personal Care Stores, a wholly owned subsidiary of multinational conglomerate Hutchison Whampoa Ltd. 

A.S. Watsons Personal Care Stores is the leading health and beauty retailer in Asia operating over 1,500 stores and 900 pharmacies in 10 Asian markets including mainland China, Hong Kong, Macau, Taiwan, Singapore, Thailand, Malaysia, Philippines, South Korea and Indonesia.

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Watsons to open 20 new stores

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