Chinese beauty group Natural Beauty has announced in Shanghai that it has opened 11 upgraded new concept stores and plans to expand its retail network to 100 new concept stores in China by the end of 2010.
According to Zeng Xinsheng, chief executive officer of Natural Beauty Group, Natural Beauty's new concept stores will break the traditional beauty salon mold, and will provide one-stop services, including skin tests, skin care services, and sales of beauty products, with a newly-established and unified image.
Zeng revealed to local media that at present, Natural Beauty has built 40 new concept stores in mainland China, with average openings of three stores every day.
In addition, the company has signed a strategic cooperation agreement with Carrefour. In the next 30 months, Natural Beauty will open new concept chain stores in Carrefour's 20 outlets in China. In the future, Natural Beauty's new concept stores will enter 50% of Carrefour's retail sites in China, covering over 30 first- and second-tier cities. Carrefour currently has over 160 outlets in China.
Natural Beauty's latest semi-annual financial report shows that the company's operating revenue in the first half of 2010 was CNY229.6 million, a year-on-year decrease of 10.1%; while its net profit decreased by 85.4% to merely CNY15.8 million. It saw significant losses in all markets, including Taiwan and Hong Kong, except for the Chinese mainland.