A.S.Watson Group scents a fragrant future in UK market

A.S. Watson Group scents a fragrant future in UK market

A.S. Watson Group today confirmed the completion of cancellation of the listing of Merchant Retail Group shares on the official list and of trading on the London Stock Exchange following the completion of the Merchant Retail Group acquisition including The Perfume Shop. Hong Kong based A.S. Watson, the world's largest health and beauty retailer, purchased the UK company which owns the 114 strong Perfume Shop chain last month.

The Perfume Shop will continue to run as a stand-alone business with the existing management team and Ian Wade, Group Managing Director of the A.S. Watson Group today said that he could see the potential for adding another 100 stores in the next three to five years.

The A.S. Watson Group is the world's largest fragrance retailer and whilst the Merchant Retail deal is a relatively small acquisition for the Group it further reinforces its position in the world fragrance retail market; particularly in UK. The retailer purchased the French chain Marionnaud, Europe's largest perfumeries and cosmetics retailer, earlier this year.

Ian Wade added,"The Perfume Shop is a great addition to our portfolio, we're very excited about the future prospects for the chain and the continued growth of our fragrance business."