The partnership, which aims to help Puig develop its brand presence in Asia, will commence on 1 February
Puig Tower in Barcelona, Spain
Puig, the family-owned company behind popular fragrance brands including Paco Rabanne, Prada and Jean Paul Gaultier, has entered into a joint venture agreement with Luxasia, a premium beauty distributor and retail company in Asia.
The joint venture will commence on 1 February and will apply to selected Southeast Asian markets including Singapore and Malaysia.
Three distributor markets – Taiwan, Phillipinnes and Thailand – will be supervised with plans for them to be affiliated at a later stage.
Marc Puig, Chairman and CEO, 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.”
Patrick Chong, Luxasia Founder and Chairman, added: “Puig is a strong and innovative company with established brands and a long term business view.
“We are very excited by the opportunity this strategic partnership presents. We are confident we can harness our deep market knowledge, influence, customer analytics and talents to sustainably grow the present of the Puig brands in this part of the world.”
Previous partnerships for Luxasia include Coty, Yves Rocher, LVMH and Elizabeth Arden.
Luxasia is credited for having helped scores of brands enter the Asian market including: Aveda, Burberry, Bvlgari, Chloé, Dior, Ferragamo, Guerlain, Hermès, Issey Miyake, La Prairie, Montblanc, Paco Rabanne, Prada, Valentino and Shiseido.