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Watsons will leave Estonia
Juhan Tere, BC, Tallinn, 02.11.2010.
Print version
Print versionThe world’s largest health and beauty goods retailer A.S. Watson Group has decided to end its activities at the Estonian market from January, LETA/Delfi reports.
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“No, it is not a bankruptcy, there are no problems. We just do not wish to continue operating,” said representative of Drogas OÜ.
The 2007 and 2008 reports of the company indicate that both years were ended with a loss, 6.4 mln and 7.5 mln kroons respectively. The company has not submitted its 2009 report.
Watsons entered the Estonian market in 2005. A year earlier, A.S. Watson Group bought the Latvian Drogas chain and expanded to Estonia via Latvia.
A.S. Watson belongs is a member of the world renowned Hong Kong-based conglomerate Hutchison Whampoa Limited. The group has 8,900 stores in 34 countries.
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