Spa and beauty-services provider Natural Beauty Bio-Technology is expanding its presence in Hong Kong.
The Taiwan-based firm, which operates more than 600 retail shops in Taiwan and another 1,000 counters in China under its 'Natural Beauty' label, is seeking a listing on the Hong Kong main board.
Chairman Tsai Yen-ping said it planned to spend about HK$60 million opening spa salons and retail shops in Hong Kong. Each spa salon might involve an investment of HK$1.5 million to HK$2 million. Similar spas in the mainland would cost about HK$1 million each due to lower rent, Ms Tsai said.
The retail shops will sell skin and beauty products and the spa salons will provide body-care and slimming services. The company hoped to expand to about 300 retail shops in Hong Kong under its label this year.
Ms Tsai did not give details of its listing plan but said She would hold about 75 per cent interest in the proposed listed company.
Ms Tsai had planned to sell the Natural Beauty label to the proposed listing company for HK$1. She said the move would enhance the company's competitiveness. The company did not have any plan for a listing in China, despite its large investment there.