Puig has signed a joint venture agreement with Asian prestige omnichannel beauty distribution and retail company Luxasia.
The agreement will commence on 1 February and covers selected Southeast Asian markets such as Singapore and Malaysia.
Barcelona-headquartered Puig is a family-owned fashion-to-fragrances house.
Luxasia Chairman Patrick Chong noted: “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 Puig brands in this part of the world.”
The Luxasia Group has 11 offices across Asia with 2,000 full-time employees. The company has worked with over 120 international fragrance, cosmetics, skincare and professional salon brands to help them penetrate Asian markets. These brands include Aveda, Burberry, Dior, Guerlain, La Prairie, Prada, Shiseido and Diptyque.
Luxasia has previously signed joint venture agreements with the Coty Group, Elizabeth Arden, LVMH Group and Yves Rocher.
Puig posted revenues of €1,645 million in 2015 and its products are sold in over 150 countries. Brands under the Puig umbrella include owned brands such as Jean Paul Gaultier, Carolina Herrera and Paco Rabanne, licences including Prada, Valentino and Comme des Garçons, and celebrity fragrances.
