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INTRODUCTION
With its acquisition of the Kruidvat Group in 2002, A.S. Watson made an impressive entrance into the European luxury perfumery sector through Belgium's market leader, ICI PARIS XL.
Keen to expand in the sector, A.S. Watson focused on European market by acquiring Marionnaud, the leading perfumery and cosmetics chain in France, and subsequently, The Perfume Shop in the United Kingdom in 2005.
The Marionnaud acquisition brings tremendous opportunities for the Group in the perfumery sector as this high-performing company boasts 1,220-plus retail stores and is the retail market leader in 10 European countries.
In light of the growing use of multiple fragrances among consumers, the rise of a new generation of exclusive, custom-made fragrances and the enduring popularity and mystique of the perfume product, A.S. Watson stands to benefit greatly in its position as one of the world leaders in the sector.
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