Fragrance house Puig has signed a joint venture deal with leading Asian prestige beauty distribution and retail company, Luxasia.
The deal is set to go ahead as of 1 February, 2017, with Luxasia helping drive Puig’s growth development in the Asian market thanks to its omni-channel distribution approach and ‘consumer-centric go-to market’ strategy.
Mark Puig, Chairman and CEO of Puig, said, “The joint venture between Puig and Luxasia is an important step towards accelerating the development of our brands in Asia. We are delighted to bring our relationship to the next level and look forward to a successful partnership.”
Luxasia covers South East Asian markets including Singapore and Malaysia and works with more than 120 international companies in the fragrance, skin care and professional salon industries. These include brands such as Aveda, Dior, La Prairie, Prada and Shiseido.
Patrick Chong, Chairman of Luxasia, said, “Puig is a strong and innovative company with established brands and a long-term business view.
“We are very excited by the opportunities this strategic partnership presents. We are confident we can harness our deep market knowledge, influence, customer analytics and talents to sustainably grow the presence of the Puig brands in this part of the world”.