Hong Kong-based beauty retailer Watsons is set to launch more locations across the Middle East to consolidate its footprint in the region.
The company expects to launch around 10 more stores in the Middle East this year, taking its regional network to 100 in the near future.
CEO of Watson in Asia & Europe, Malina Ngai, said: “As a Hong-Kong based international health and beauty retailer, Watsons has already expanded to 14 markets outside of Hong Kong.
“We see opportunities to bring the Watsons brand to GCC in 2020 and opened our first store in Dubai (UAE) that year despite the Covid challenge. We then entered into KSA in 2021. Customers in the Middle East like beauty and personal care products, especially our expertise in skincare.”
Currently, the brand operates five outlets in Saudi Arabia, 10 in the UAE and two in Qatar.
Watsons opened its first store in Dubai Mall in the UAE in 2020 after reaching an exclusive franchise arrangement with Al Futtaim to debut Watsons.
A year later, the brand entered Saudi Arabia.
Last year, Watsons added four locations to its portfolio in the kingdom, bringing the total number of stores in the GCC to 17.
Having reached a revenue of $4.64 billion last year, Watsons has set out to focus to evolve in Saudi Arabia due to the country’s growing population of more than 36 million and a fast-growing consumer market for beauty and personal care.
According to a Statista report, revenue in the beauty and personal care in Saudi Arabia market amounts to $5.00 billion in 2023. The market is expected to grow at a compound annual growth rate of 4.64 per cent between this year and 2027.
