Li Ka-shing's Watson defies online rivals with 4 new stores a day
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Hong Kong
WHO says brick-and-mortar retail is dead? Billionaire Li Ka-shing's A.S. Watson Group is opening nearly four stores a day because selling baby and skincare products in China is generating profit margins that Amazon.com Inc could only dream of.
The operator of the Watsons health-and-beauty stores and Superdrug chain plans to open 1,400 outlets globally this year, more than a third of which will be in China, chief operating officer Malina Ngai said in an interview.
