屈臣氏要IPO了

Core Viewpoint - The company Watsons, a pioneer in drugstore retail, is planning a dual listing in Hong Kong and the UK, with a valuation expected to exceed $30 billion (approximately RMB 213.2 billion) [1][3]. Group 1: Company Background - Watsons has a history of approximately 200 years, originally founded in Guangzhou in 1828 as Guangdong Pharmacy [2]. - The company was acquired by Li Ka-shing in 1981 and has since expanded significantly, entering various markets including Taiwan, Macau, and major cities in mainland China [2]. - Watsons became the world's largest cosmetics retailer during a rapid expansion phase, opening an average of 200 stores annually for a decade [2]. Group 2: Recent Developments - The company is reportedly in discussions for a potential IPO, aiming to raise $2 billion or more, with plans to initiate the listing as early as next year [3][6]. - Watsons' revenue for the first half of 2025 reached HKD 98.84 billion, marking an 8% year-on-year increase, although growth is primarily driven by Europe and emerging markets, with a 3% decline in the Chinese market [4][5]. Group 3: Challenges and Strategic Changes - Watsons has struggled to regain growth in China since 2016, failing to capitalize on the e-commerce boom and facing stiff competition from new beauty retail formats targeting younger consumers [5]. - The company is undergoing significant leadership changes and strategic shifts, including plans to open 500 new stores, focusing on lower-tier cities and enhancing its online order fulfillment capabilities [5][6]. - The current market environment for IPOs in Hong Kong is favorable, with a significant increase in new stock financing, suggesting a potential opportunity for Watsons to reposition itself [6].