Watsons Philippines, a leading health and beauty retail brand under the SM Group, reported that ended 2024 with 1,166 stores after it opened 80 new stores last year as part of its strategic expansion.
In a statement, the company said more than 50 of the new stores opened last year were located outside Metro Manila. The Watsons brand also opened its 8,000th store in Asia at the Mall of Asia last year, led by Dr. Malina Ngai, Group CEO of AS Watson Group.
Ngai said the opening of the 8,000th store marks a significant milestone in their global expansion, “The Philippines has been selected for this momentous occasion because it’s one of the fastest-rising economies in Asia and a strategic market for AS Watson.”
“This vibrant and highly potential market has a young demographic that increasingly focuses on health and beauty, aligning perfectly with Watsons’ expertise,” she added.
Since its first store opened in 2002, Watsons Philippines has grown significantly through a joint venture between the SM Group and Hong Kong-based A.S. Watson & Co. Ltd.
The brand continues to enhance its presence nationwide, making healthcare and beauty products more accessible to Filipino consumers.
Last year’s new store openings include key cities and municipalities in Visayas and Mindanao, reflecting Watsons’ commitment to reaching communities in need.
A recent study by Bain and Company, titled “Asia-Pacific Front Line of Healthcare 2024,” reveals that about 85 percent of consumers in the region prioritize healthcare maintenance, with 51 percent willing to increase out-of-pocket spending for improved health outcomes and experiences.
Jared de Guzman, Customer Director at Watsons, emphasized the brand's focus on community pharmacies, noting that, “Watsons is not only expanding in malls but is also committed to establishing a strong presence in local neighborhoods.”
“By the end of 2024, we have 400 community stores throughout the Philippines, ensuring accessibility and convenience for our customers,” he added.
Watsons began its community pharmacy journey in 2015 with its first store in Pateros. Today, the brand operates in three formats: Watsons Pharmacy, with more than 1,000 locations in various settings; SM Beauty in 76 SM Stores; and LOOK, a multi-brand outlet at SM Aura and SM Mall of Asia.
De Guzman highlighted the significance of these community pharmacies as a growth driver since “Our community stores bring essential healthcare products closer to home, catering to the convenience sought by our busy shoppers. They have become vital destinations for health, beauty, and wellness needs.”