INTERNATIONAL. Perfume Holding (the new group combining Selective Beauty and Morris) and Singapore-based Luxasia have combined forces to create a joint venture to handle the Asian market.
According to the terms of the agreement, by the end of 2010 both parties will have set up the company Perfume Holding Asia, based in Singapore, which will co-ordinate all marketing and sales activities of Perfume Holding in this region.
The joint venture will sell the products manufactured and supplied by Perfume Holding through a mix of Luxasia affiliates and other distributors, who are already partners of Perfume Holding in the region.
Perfume Holding President Enrico Ceccato commented: “Luxasia is the ideal partner to develop the sales and image of our prestige and masstige fragrance brands in Asia, a market which will continue to experience steady growth in the future.”
Luxasia President Patrick Chong added: “We are enthusiastic about this joint venture, since it is our first step to build a leadership position in the masstige market, in which Perfume Holding has a strong know-how and brand portfolio.”
MORE ABOUT PERFUME HOLDING
Perfume Holding is the new commercial name of the group combining Selective Beauty and Morris. Morris is an Italian developer, manufacturer and marketer of fragrance and cosmetics products. Licensed brands include Ferrari, La Perla, Sergio Tacchini, Ducati, Fiorucci and Bois. Morris also owns Atkinsons, a body treatment products, soaps and fragrances brand acquired in 2008 from Procter & Gamble. Morris is based in Parma, Italy, where it manages its own manufacturing unit.
Selective Beauty, now Perfume Holding, is a Paris-based developer, manufacturer and marketer of fragrance. Selective Beauty’s current licence brands include John Galliano, Trussardi, Max Mara, Iceberg and Benetton. Furthermore, Selective Beauty has a distribution joint venture in Italy with Interparfums.
Morris and Selective Beauty are controlled by the same financial holdings, in which Investindustrial, a leading South-European fund with €2.1 billion under management, has the majority and Orlando Italy, a leading Special Situation Fund with €200 million under management, has a relevant minority stake. In September 2009, Enrico Ceccato, Orlando Italy Managing Partner, became CEO of Morris, replacing Giovanni Borri. He also became also CEO of Selective Beauty.
MORE ABOUT LUXASIA
The Luxasia group describes itself as the leading distributor of world-renowned fragrance and beauty brands in Asia. The group’s portfolio spans more than 80 brands, including those of Beiersdorf, Clarins, Estée Lauder, LVMH, P&G, Puig and the Shiseido Group. The portfolio encompasses five key pillars: Fragrances, Cosmetics, Cosmeceuticals & Nutraceuticals, Salon Professional and Haircare.
Established in 1986, the group has grown regionally to 10 offices and more than 1,500 full-time employees in Singapore, Malaysia, Indonesia, the Philippines, Thailand, Vietnam, India, China, Hong Kong and Taiwan.
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