Protests take a toll on sales at Watsons, one of Hong Kong’s most instantly recognisable retail chains
- Health and beauty giant Watsons has seen sales plummet during almost two months of frequent street rallies, says managing director Diane Cheung
Seven weeks of unprecedented civil unrest have taken their toll on one of Hong Kong’s most instantly recognisable retail chains.
Health and beauty giant Watsons has seen sales plummet during the period the city’s streets have been frequently taken over by an army of angry protesters occasionally clashing violently with riot police, according to managing director Diane Cheung. She said other factors had also contributed to the decline, but the Watsons shops in districts at the centre of the massive rallies were among the worst affected.
“Month-to-date July our sales have fallen by a double-digit [percentage] from the same period last year,” she told reporters on Monday after a product launch event.
“That said, last year’s comparison base was relatively high, and given we achieved favourable first-half sales and that we expect openings of new and renovated stores in the second-half, we believe we will fare better than the entire retail market for the full year.”
Watsons’ ubiquitous shops in Hong Kong are owned by AS Watson Group, a multinational retail giant itself a unit of tycoon Li Ka-shing’s conglomerate CK Hutchison. Sales declined year on year in June and July, according to Cheung.