Cosmed Opens 600th Store, Surpassing Watsons to Become Taiwan's Top Drugstore Chain

(CNA, by reporters Ho Hsiu-ling, Chiang Ming-yen, Taipei, 19th) Uni-President announced that its drugstore chain, Cosmed, and Starbucks have simultaneously opened their 600th stores in Taiwan. For years, Cosmed has been closely trailing drugstore leader Watsons in store count. However, with an accelerated pace of expansion in recent years, the opening of its 600th store has allowed it to surpass Watsons for the first time and take the market leader's throne. Uni-President Group's Cosmed and Starbucks synchronously celebrated their dual 600th stores in Taiwan and, in combination with 7-ELEVEN, are launching a new 'Yuanxiu Store' in Nangang, which is set to open on the 24th. A media photoshoot was held today. Cosmed stated that it has gradually evolved from a traditional drugstore to a new type of channel that combines beauty, health, and lifestyle. The Yuanxiu Store will focus on new-generation beauty and lifestyle trends, gathering first-in-Taiwan specialty counters for brands like Korean cosmetics, and launching a 'mini bar' select-item section. The move is driven by the observation that customers' trial rates for mini-sized products are 5 times higher than for regular products. Consequently, over a hundred small-sized beauty items have been introduced to allow consumers to experience popular new products at a lower threshold. To capture the Taiwanese market, Cosmed has been expanding its footprint. Kao Shiu-ling, Chairperson of Uni-President Group's beauty business, announced in 2022 a goal for Cosmed to open 100 pharmacies. After achieving this target in June 2023, the company has continued to actively expand its store count across Taiwan. In addition to the expansion strategy, store formats have also been dynamically adjusted. Kao once stated that besides 30 to 50-ping (approx. 1067-1779 sq ft) stores, opening 100-ping (approx. 3558 sq ft) flagship stores would be a key focus, aiming to become 'urban mini-department stores.' As of now, according to the Watsons official website, its total number of stores in Taiwan exceeds 580. Compared to Cosmed's announcement of 600 stores, it is clear that Cosmed's network has surpassed Watsons for the first time, making it the leader in the drugstore channel. In the coffee chain market, Starbucks has now opened its 600th store, firmly holding its position as the number one coffee chain. Meanwhile, Louisa Coffee, which carved out a niche with its affordable coffee and once surpassed Starbucks in store count, has shifted its strategy in recent years towards multi-brand development, gradually transforming from a single coffee brand into a diversified food and beverage group. Louisa stated that its current number of stores nationwide has reached about 560. Its expansion strategy has shifted from large-scale openings to a core focus on 'store optimization' and 'efficient location management' to enhance single-store operational efficiency and brand penetration. As the domestic coffee market becomes more competitive, Louisa stated that to meet market demand and create a multiplier effect, its main focus for expansion this year is on its food and beverage brands, and Louisa Coffee