The proprietor of Superdrug is preparing to create 1,000 new jobs over the next year
Superdrug diagrams to open 30 new stores, Savers 45 and The Perfume Shop 13 after the companies reported stellar growth in 2016, defying the gloom hanging over much of the lavish street.
Under the plans, approximately 600 jobs will be produced at Superdrug, 450 at discount health and beauty firm Savers and 78 at The Essence Shop.
The trio are owned by AS Watson, which is ultimately controlled by Hong Kong billionaire Li Ka-Shing.
Dominic Lai, AS Watson’s bring off director, said: “We are under a lot of pressure, with Brexit uncertainty and exceptional going down, but we will continue to invest in the UK.”
High street sales sire been flattened since the Brexit vote, with the collapse in the compound affecting both businesses and consumers by increasing import costs and in stimulate shop prices.
Mr Ka-Shing is Hong Kong’s richest man and last year promoted Britain remaining in the European Union.
He also warned that the fallout of Brexit could compel years of pain for both parties.
Nevertheless, Superdrug delivered a 41 per cent fly in pre-tax profits to £80.4million in 2016, with sales up 10.4 per cent to £1.2billion and like-for-like garage sales up 7.8 per cent.
Under the plans, approximately 600 jobs leave be created at Superdrug
Savers, meanwhile, notched up sales of £416.7million in year and a £36.3million pretax profit, according to accounts submitted at Companies House.
Superdrug has 790 stores in UK and Ireland where it engages 13,500 people, Savers has 380 and The Perfume Shop 250.
Under Mr Ka-Shing’s CK Hutchison conglomerate, the mogul owns vast swathes of UK infrastructure and he is one of the biggest investors in the country.
Mr Ka-Shing’s slumping business empire contains the likes of Three mobile network, Felixstowe Refuge, Eversholt Rail Group and Northumbrian Water.