HONG KONG, NNA - Leading Japanese wig maker Aderans Co. has opened its first outlet in Hong Kong, aiming to expand in Asia on the back of fast economic growth in the region after ramping up sales in North America and Europe.
The shop, located in Causeway Bay, one of the busiest shopping districts in the territory, sells ready-made and tailor-made hairpieces while providing beauty care and consulting services.
Aderans President Yoshihiro Tsumura told NNA that the company plans to open "at least five stores in Hong Kong in the next three to five years."
The Tokyo-based company, with consolidated sales of 74.8 billion yen ($664 million) in the business year to February 2017, is planning to increase the ratio of overseas sales from the current 50 percent to 70 percent over the next decade.
Overseas revenue currently consists mainly of sales in North America and Europe. Tsumura said his firm plans to boost business in Asia "through our own operations by local units as well as through mergers and acquisitions."
The president said Aderans expects to foray into Indonesia, Malaysia, Thailand and Vietnam in the future in addition to China, Hong Kong, Singapore and Taiwan, in which it has already established sales arms and shops.
"We will gear up to explore the Asian market as China, Thailand and other production bases have been changing to consumer markets," said Tsumura, adding that people are becoming more beauty conscious. (NNA/Kyodo)