A chart illustrating Best World's distribution channels in its Feb 23 clarification announcement filed to the SGX The group also adds that it has confirmed with its legal counsel that the operation of its franchise model is lawful as it has obtained all material licenses for conducting its operations in China, and that its businesses under the export and franchise models do not constitute direct selling activities in China. In its Feb 18 article, BT said a spokesperson from market research firm Euromonitor “expressed surprise” when shown Best World’s league table from its latest corporate presentation, which cited Euromonitor data to back the group’s claims of being the 13th largest company in China’s premium skincare market. Best World says in its response that its ranking was ascertained after conducting additional market information and industry data obtained by the firm through ‘customised research’ which it engaged Euromonitor to perform – including primary and secondary research, as well as a review of the company’s audited financials and operating data. It adds that Euromonitor has confirmed the validity of this statement with Best World, and intends to do the same with BT. “The company would like to assure its shareholders that it has conducted all areas of its business ethically and in compliance with applicable laws and accounting standards, and is confident that the business and accounting practices of the group will stand up to scrutiny,” says Best World.
