Follow us twitter facebook
Edition: Global
Click here to subscribe toour free weekly newsletter click here
Industry buzz

Cosmetics retailer Sa Sa to close all stores in Taiwan

Hong Kong headquartered Sa Sa International Holdings Limited has announced it will close all stores in Taiwan to concentrate its resources on mainland China, Hong Kong, Macau, Singapore and Malaysia markets as well as its e-commerce business.

Sa Sa Supreme, Lifestyle Concept Store

Sa Sa Supreme, Lifestyle Concept Store

The decision comes after six consecutive years of losses in the island and several attempts to reorganise the operations and reduce costs. For the 10 months ended 31 January 2018, Sa Sa’s turnover in Taiwan decreased by 11.5% in local currency terms year on year to HK$154.3 million.

Sa Sa had 21 shops in Taiwan and approximately 260 employees will be affected by the closure which should be effective on 31 March 2018. “They will be compensated according to local labour regulations,” said the company.

The group operates 119 stores in Hong Kong, 56 in mainland China, 19 in Singapore and 75 in Malaysia, selling over 700 brands ranging from skincare to beauty supplements. Sa Sa considers the closure of the Taiwan business will help it “to more fully capture the opportunities that will arise” in other markets.

Sa Sa Supreme, Lifestyle Concept Store

Sa Sa Supreme, Lifestyle Concept Store

While the closure of all the stores in Taiwan will result in a loss, it will not have a significant adverse effect on the Group’s financial performance and operations as the Taiwan market only accounts for a small portion of the Group’s turnover (2.5% for the six months ended 30 September 2017),” added the company in a release.

© 2018 - Premium Beauty News - www.premiumbeautynews.com
latest news
Focus
MakeUp in newYork hosted more than 3800 visitors, with a growth of 12% of international guests.

MakeUp in New York moves to Javits Center to continue growing

The latest edition of MakeUp in NewYork was a huge success, announced the organisers. Held at the Center415 on 5th Avenue, in Manhattan, on September 11&12, 2019, the two-day B2B event dedicated to the makeup and skincare supply chain welcomed more than 3800 visitors, with a growth of 12% of international guests. Brazil, Canada, (...)

read more
job opportunities
Experts’ views
Victoria's Secret or the failure of a conservative positioning?

Laurence Bacilieri
Victoria’s Secret or the failure of a conservative positioning?

When the Victoria’s Secret show was cancelled it didn’t come as a surprise. In May, it was reported by The New York Times that the show would no longer be broadcast on network television. “We must evolve and change to grow. With that in mind, we have decided to re-think the traditional Victoria’s Secret Fashion Show". From 2001 to 2018, (...)

read more

Features

We use cookies to give you a better browsing experience. By continuing your visit to this site, you accept the use of cookies. Read more and set cookies
close