Asia Pacific distributor Luxasia has acquired a majority stake in Pacific SMM. The investment allows for expansion into Australia and New Zealand.
WHO: Pacific SMM is the leading fragrance and beauty distributor for Australia and New Zealand. Their portfolio includes Elizabeth and James, Memo Paris, Jessica Simpson, Kenneth Cole, and Chopard, among others.
Founded in 1986, Luxasia is a Singapore-based beauty and luxury lifestyle brand distributor that works across niche, prestige, and masstige categories. Their portfolio includes La Prairie, Bvlgari, Guerlain, Prada, and Hermes. In addition, they have joint ventures with the likes of LVMH Group, PUIG, Yves Rocher, and Elizabeth Arden.
IN THEIR OWN WORDS: Dr Wolfgang Baier, Group CEO, Luxasia, said: “We are excited by the immense potential of our partnership, given that Australia and New Zealand are mature beauty markets. By combining Pacific SMM’s extensive market knowledge in ANZ with Luxasia’s end-to-end brand distribution and channel management competencies, Luxasia is well-poised to bring its repertoire of beauty brands to the ANZ market speedily and successfully.”
Nicholas Gorick, Managing Director, Pacific SMM, added: “We have great admiration for the Luxasia team’s consumer-centric approach in brand distribution, having worked closely with them for several years across numerous brands. Leveraging our collective strengths, we are confident that Luxasia Oceania will be a dominant force in ANZ’s beauty industry.”
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