Luxasia buys Australasian business Pacific SMM
Singapore-based beauty and luxury lifestyle brand distributor Luxasia has entered Australia and New Zealand through its purchase of a controlling stake in fragrance and beauty distributor Pacific SMM.
The deal takes the fast-expanding company’s regional presence to 14 markets, in line with its strategic plan to deliver an omnichannel beauty experience and “transform the beauty landscape in Asia Pacific”.
“We are excited by the immense potential of our partnership, given that Australia and New Zealand are mature beauty markets,” said Luxasia group CEO Dr Wolfgang Baier.
“By combining Pacific SMM’s extensive market knowledge in Australia and New Zealand 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.”
The purchase will be settled next month, when the target business will be renamed Luxasia Oceania.
Baier said Luxasia would build upon Pacific SMM’s current setup with experienced team members, innovative retail concepts, e-commerce best practices, and an efficient back-office and supply chain management and complement the fragrance-heavy offer with more skincare and cosmetics brands.
Pacific SMM managing director Nicholas Gorick said his team admired Luxasia’s consumer-centric approach in brand distribution, having worked closely with the company for several years across numerous brands.
“Leveraging our collective strengths, we are confident that Luxasia Oceania will be a dominant force in Australia-New Zealand’s beauty industry.”
This story originally appeared on sister-site Inside Retail Asia.
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