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Hall of Fame Biographies

Ian Wade

AS Watson

When Ian Wade stepped down as group managing director of AS Watson at the end of 2006 he had presided over a remarkable period in the retailer’s growth. Part of conglomerate Hutchison Whampoa since 1963, the company was founded in 1828 and by the end of the 20th century was a significant regional player in health and beauty and grocery retail. Under the guidance of Wade, who spent 25 years with the company, it made a series of large acquisitions – mainly in Europe.

Indeed, when the ink dried on the deal for French beauty and cosmetics business Marionnaud in 2006 ASW became the largest health and beauty operator in the world, with an impressive power base in Europe and Asia and, in Hong Kong, the ideal geographical launch pad for mainland China, where it already operates.

In Asia ASW had grown to be the largest health and beauty retail chain with over 980 stores and 680 pharmacies, operating its flagship Watsons Your Personal Store in ten markets - Hong Kong, Taiwan, mainland China, Macau, Singapore, Thailand, Malaysia, the Philippines, Korea and Turkey.

AS Watson’s European push kicked off in late 2000 when it acquired the Savers discount drugstores in the UK. By the end of 2000, Savers had 170 stores and although AS Watson’s support allowed the chain to expand rapidly throughout 2001, it gave little indication of what was to come. The seismic shift came in August 2002 when AS Watson purchased the Dutch-based Kruidvat business. Kruidvat, the largest drugstore retailer in the Netherlands, also operated the ICI Paris XL perfumeries and the Trekpleister drugstores, both in its home market and Belgium, as well as Superdrug, the second largest drugstore chain in the UK. Kruidvat also had a 50:50 joint venture with Rossmann to operate drugstores in the Czech Republic, Hungary and Poland. As part of the deal AS Watson gained the option of buying a 40% stake in Rossmann, one of the largest drugstore chains in Germany. So, the acquisition of Kruidvat immediately catapulted AS Watson from a peripheral player into a European drugstore giant.

AS Watson continued to acquire health and beauty retailers across Europe at a breakneck speed. The purchase of Drogas gave it a foothold in the Baltic States, while the option to acquire the 40% stake in Rossmann was exercised in 2004. Meanwhile, French perfumery giant Marionnaud was snapped up in 2005, with Merchant Retail Group (operator of the The Perfume Shop in the UK) following a few months later. Meanwhile, a presence in Russia was secured when the Spektr chain came on board in late 2005. Superdrug then followed suit.

Wade’s low key approach and AS Watson’s relentless acquisition programme projected the company into the big time almost unnoticed and Wade’s retirement was a similarly low profile event, though his tenure covered the rise of the most powerful health and cosmetics retail group in the world. Indeed, when he joined the company had just a 16-store chain.

Outside of AS Watson, he is president of the Hong Kong Tennis Patrons’ Association (TPA).