Walgreens Boots Alliance (WBA), which owns Boots health-and-beauty chain, plans to continue expanding its business in Asia because of the growing middle class.
As Boot Thailand celebrates 20 years, WBA co-COO Ornella Barra says Asia, particularly China, South Korea and Thailand, are integral to the company’s expansion plans, with the Asia-Pacific region forecast to account for more than one-third of the global economy by 2021.
Growth rates in the region continue to outpace the mature economies of the west, driven in part by the rising middle class.
Moreover, led by regional and domestic players, the market is still fragmented, says Barra, noting that strong beauty brands have huge opportunities for growth in many Asian markets, especially those that can build on brand awareness built in established markets.
