WATSON'S GROWTH ENSURED
THE balanced portfolio of manufacturing, agencies, food and non-food retailing will ensure the continued growth of A.S. Watson in Hong Kong and other Far Eastern countries, according to the company's managing director Ian Wade.
"Our portfolio, combined with the fact that we are a Hutchison subsidiary with a committed management team and a knowledgeable and enthusiastic staff, has made us one of the best known names in Hong Kong," he says.
With a history dating back to a small dispensary in Canton in the last century, A.S. Watson today has four major divisions. These cover the manufacture and marketing of beverages, ice cream and the representation of complementary agencies; food retailing through Park'N Shop supermarkets; and non-food retailing through Watson's variety stores and Peter Pan toy shops. The group has recently created a fourth division to handle the marketing and distribution of Watson's own-label pharmaceuticals and toiletries, branded cosmetics and fragrances, and the packaging of products for other pharmaceutical houses for Far Eastern distribution.
The best known Watson enterprise is the Park'N Shop supermarket chain, pioneer of one-stop shopping in Hong Kong. Three years of expansion beginning in 1982 have brought the number of Park'N Shops in the territory to 108 and have changed the buying habits of the population.
Mr Wade forecasts that the number of Park'N Shops will continue to increase over the next few years, as will the number of Peter Pan outlets. Peter Pan has grown from three shops in 1980 to 10. It is set to increase to around 20 shops within three years.
"With Peter Pan and the toy departments of Watson's variety stores, we are Hong Kong's biggest toy retailer with a wide international range of toys," says Mr Wade.
Watson's, with 39 outlets already and more to come, holds a strong position in the market-place and presents a concept unique for Hong Kong.
The manufacturing division holds large market shares for its beverages and refrigerated products in Hong Kong, with significant representation in China, but Mr Wade is far from complacent about its success.
"Although we have over 80% of the Hong Kong market for distilled water, 65% for fruit juice, one quarter for canned drinks and one third for ice cream, we are constantly looking for new products to fill market gaps.
"Future expansion plans for the division include the possibility of soft drinks and ice cream manufacturing in China and we are examining the potential for entering other Asian markets as both manufacturer and retailer."
Mr Wade points out that the company has set its sights high. "We are aiming for growth of our existing businesses as well as for diversification and development."'
IAN WADE,
MANAGING DIRECTOR
OF A.S. WATSON.
"We are constantly
looking for new products
to fill market gaps.""
20
HUTCHISON WHAMPOA LIMITED
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