Before you start asking why a grown-ass man like me cares about Sasa closing their outlets—well, I’ll have you know that I go to Sasa pretty often.
No, seriously. Before I sold my soul to Goody Feed and decided to write for a living, I spend a good portion of my free time experimenting with SFX makeup techniques.
(Caution: fake injury ahead)
Well, yeah. The fake injury on my arm is done with makeup. I hope you’re convinced now!
Anyway, Sasa is my go-to place for my cosmetics, since they tend to sell the items I need at a much cheaper price as compared to other shops out there.
According to a report by South China Morning Post, Sasa will shut 21 of its stores in Taiwan and approximately 260 employees will be affected by the decision.
The decision was made after 6 years of consecutive losses in Taiwan. Well, I suppose that would make sense. Even I wouldn’t want to stay in a place incurring these much losses!
Sasa will instead focus on their other markets, including China, Hong Kong, Macau, Malaysia and Singapore.
The affected employees would be compensated according to local labour regulations.
“The group’s performance in Taiwan has been persistently weak, and the possibility of improvement is low into the foreseeable future. Having considered the interests of the group and the shareholders, we decide to close our business in Taiwan so that we can concentrate our resources on other markets and businesses,” said Simon Kwok Siu-ming, company chairman of Sasa.
Just for the 10 months leading up to January 2018 alone, the turnover at Sasa’s Taiwan business dropped by 11.5%.
As for the 3 months leading up to Dec 2017, Sasa’s turnover in Taiwan decreased by 5.5%. In comparison, business in Hong Kong has an 8.1% increase while business in China has a 13% increase.
As such, don’t you think that this is the perfect reason for leaving the market?
Whatever the situation is, I’m just glad that we aren’t losing our Sasa stores anytime soon!
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This article was first published on goodyfeed.com
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Featured image: SCMP
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