Skincare product brand Fancl has announced that it would pull out of both the Taiwan and Singapore markets from March 2014.
In it’s shift, it will be focusing more on wholesale distribution and growing its online presence. Lawrence Chong, CEO at Consulus, believes this to be a positive sign.
“I think the brand should have taken the last two years to build its mobile platform to strengthen its following. Fancl is a great brand and it has a lot of equity so it should have built a customised platform to gather personalised preferences and develop products meant for the Southeast Asian environment.” Chong said.
For his full thoughts on the matter, visit the Marketing Magazine article here