Sa Sa plans major expansion in mainland China
Hong Kong-based cosmetics retail group Sa Sa International has said it will expand business in mainland China to account for 50% of total sales from a current 20% in three to five years. The group's chairman Simon Kwok said in a radio interview that mainland market development would be the main task over the next none months. Further retail outlets will be opened in Shanghai and Beijing and other cities.
Hong Kong-based cosmetics retail group Sa Sa International has said it will expand business in mainland China to account for 50% of total sales from a current 20% in three to five years. The group's chairman Simon Kwok said in a radio interview that mainland market development would be the main task over the next none months. Further retail outlets will be opened in Shanghai and Beijing and other cities.
Kwok underlined the relatively minor impact of the global economic crisis by noting Sa Sa's 12% sales growth last year to HK$609m with retail sales in Hong Kong and Macau up 9.2% over 2007. Profits last year increased by 14.4%. However, sales in the second quarter this year have dropped 10% largely due to the decline in visitors to the region due to swine flu fears.