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Hong Kong cosmetics chain reports rise in Sa Sa sales

By Michelle Yeomans , 15-Jan-2013

Sa Sa International Holdings has announced that its sales climbed 20.4 percent reaching $279 million in the last three months leading up to the 31st of December.

The specialty cosmetics chain has a vast presence in Hong Kong, Macau, Mainland China, Taiwan, Singapore and Malaysia offering its own range of skin care, fragrance, hair care and BFW supplements as well acting as a representative for over 100 international cosmetics brands.

According to Forbes, the company’s Hong Kong-traded shares have risen by more than 60 percent in the past twelve months, and that although its’ recent announcement didn’t include any details about profit, Sa Sa is now in a position to be “cautiously optimistic” about this quarter.

One to watch…

The business magazine has been keeping a close eye on the Asian company of late, ranking its founders Simon and Elenor Kwok as No. 33 on its’ 2013 'Hong Kong Rich List'.

Months earlier, Forbes placed Sa Sa's market capital at $1.81 billion in July 2012, while dedicating the cover profile of its' Asian edition to the company.

On the back of its' recent announcement, the company says it remains ‘cautiously optimistic’ for the coming year as it continues with its expansion in the Asia-Pacific region.

“Looking ahead, we will ride on our brand strength with high management flexibility, and prudent development strategy to drive expansion in Hong Kong, Mainland China and other markets,” said chairman and CEO, Dr. Simon Kwok.

Continuing to build momentum in Asia

Back in 2010, Cosmetics Design reported that the cosmetics retailer had had a strong online sales year, bringing in a 2009 annual turnover of HK$4.1bn (€430m), up 13.9 percent from the previous year whilst also recording improved sales in Singapore, Malaysia and Taiwan, as well as an increase of more than 50 percent in online sales.

Then, Kwok attributed the strong performance to increased spending by residents and tourists, as well as an increase in the number of transactions, which although affected initially by the H1N1 outbreak and financial crisis, improved during the second half of the year.

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