President Pharmaceutical Corp (統一藥品) plans to accelerate its overseas expansion and increase its revenue to NT$4 billion (US$132.9 million) this year, the company said last week.
That would represent a nearly 20 percent growth from the NT$3.36 billion in sales recorded last year, said the company, which is 73.74 percent owned by President Chain Store Corp (PCSC, 統一超商).
President Pharmaceutical, founded in 1993, owns five pharmaceutical, skin care and cosmetic brands. The company is also the sole distributor for 10 foreign brands.
Last year, the company reported as net profit of NT$412.57 million, enabling it to contribute NT$302.16 million to its parent company.
“This year, the company is focusing on boosting revenue of the 15 brands it currently handles, instead of launching new brands,” President Pharmaceutical president Martin Chang (張聰本) told a press conference last week.
Over the past few years, the company has expanded one of its major facial mask brands — My Beauty Diary (我的美麗日記) — to 11 countries, with the brand’s market share topping peers in Hong Kong and Singapore, Chang said.
The strong sales of My Beauty Diary products led President Pharmaceutical’s own brands to contribute more than half of its overall sales last year, Chang added.
Chang said the company is targeting the Chinese market this year, where it plans to launch a skin care brand before the end of the year.
With its experience selling brand-name products, President Pharmaceutical said it would help other PCSC affiliates such as 7-Eleven, the nation’s largest convenience store chain, and President Drugstore Business Corp (統一生活事業), which owns Taiwan’s second-largest drugstore chain, Cosmed (康是美), develop their products.