Major wigmaker Aderans Co. plans to open nearly 100 stores specializing in wigs for women in China in three years after it failed to create interest among Chinese men.
Aderans will first open a flagship store in Shanghai in September and then additional stores in Beijing and other places, the company said in its medium-term business plan released Thursday.
Aderans currently has only one store in China that sells wigs for men. Since demand for men's wigs has been sluggish, however, the company is aiming to boost sales by encouraging women to wear wigs.
The company is also planning to increase promotional activities in Japan to cultivate demand among young women and those suffering from hair loss due to chemotherapy.
In fiscal 2010, which ends next February, the company expects to remain in the red for the second consecutive year on an operating profit basis.
Aderans is trying to revamp its business under the management selected by U.S. hedge fund Steel Partners, the top shareholder of the wig firm.
With the new business plan, Aderans hopes to return to the black in the 2011 business year.